|
|
Actual 2017 |
2018 target |
Actual1 January-August 2018 |
|---|---|---|---|
|
Expenditure (€bn)2 |
325.4 |
343.6 |
222.2 |
|
|
+1.3 |
|
| Revenue (€bn)2 |
330.4 |
341.7 |
221.4 |
|
|
+7.7 |
|
| Tax revenue (€bn) |
309.4 |
321.3 |
204.0 |
|
|
+6.0 |
|
|
Fiscal balance (€bn) |
5.0 |
-1.9 |
-0.8 |
|
Financing/use of surplus: |
-5.0 |
1.9 |
0.8 |
|
- |
- |
42.2 |
|
0.3 |
0.3 |
0.2 |
|
-5.3 |
1.6 |
0.0 |
| Net borrowing4 (€bn) |
0.0 |
0.0 |
-41.6 |
| Any discrepancies in totals are due to rounding. | |||
| 1 As per accounts. | |||
|
2 Excluding revenue and expenditure from internal offsetting. |
|||
| 3 Negative values denote accumulation of reserves. | |||
|
4 (-) debt repayment; (+) borrowing |
|||
| Source: Federal Ministry of Finance | |||
|
Debt level |
Borrowing (increase) |
Debt repayment (decrease) |
Debt level |
Change in debt level (balance) |
|
|---|---|---|---|---|---|
|
31 July 2018 |
August 2018 |
August 2018 |
31 August 2018 |
August 2018 |
|
| Budget borrowing |
1.074,920 |
15,057 |
- 7,041 |
1,082,936 |
8,016 |
|
broken down by purpose |
|||||
|
Federal budget |
1,033,496 |
15,057 |
-7,041 |
1,041,512 |
8,016 |
|
Financial Market Stabilisation Fund |
22,466 |
- |
- |
22,466 |
- |
| Investment and Redemption Fund |
18,958 |
0 |
- |
18,958 |
0 |
|
broken down by dept type |
|||||
| Federal securities |
1,062,300 |
15,057 |
-7,041 |
1,070,316 |
8,016 |
|
694,160 |
5,928 |
- |
700,088 |
5,928 |
|
213,574 |
993 |
- |
214,567 |
993 |
|
480,586 |
4,936 |
- |
485,521 |
4,936 |
|
63,554 |
2 |
- |
63,556 |
2 |
|
7,504 |
27 |
- |
7,531 |
27 |
|
56,051 |
-25 |
- |
56,026 |
-25 |
|
188,626 |
2,875 |
- |
191,501 |
2,875 |
|
95,753 |
3,839 |
- |
99,592 |
3,839 |
|
18,755 |
2,413 |
-7,023 |
14,145 |
-4,610 |
|
1,451 |
- |
-19 |
1,432 |
-19 |
| Securitised loans |
8,145 |
- |
- |
8,145 |
- |
| Other loans and ordinary debts |
4,475 |
- |
- |
4,475 |
- |
|
broken down by maturity |
|||||
| up to one year |
159,439 |
|
|
154,972 |
-4,467 |
| one to four years |
323,566 |
|
|
327,183 |
3,617 |
| over four years |
591,915 |
|
|
600,781 |
8,866 |
|
Additional information:1 |
|||||
| Liabilities from the capital indexing of inflation-linked federal securities |
4,648 |
|
|
4,735 |
87 |
| Reserves in accordance with the Final Payment Financing Act ( Schlusszahlungsfinanzierungsgesetz ) |
3,484 |
|
|
3,484 |
- |
|
1 Liabilities resulting from the capital indexing of the nominal value are equal to the amount by which the underlying nominal value (issuance price) has increased, due to inflation, between the start date and the specified reference date. The reserves are the result of allocations made: - on a regularly scheduled basis, namely on each coupon payment date for inflation-linked securities (15 April of every year) (section 4(1) of the Final Payment Financing Act) and - on an exceptional basis, namely on each reopening date for inflation-linked securities (section 4(2) of the Final Payment Financing Act).
Discrepancies in totals are due to rounding. |
|||||
|
Period |
Total tax revenue |
|---|---|
|
Projection for 20181 |
710,545 |
|
August |
49,872 |
|
January to August |
454,442 |
| 1 Source: Working Party on Tax Estimates, May 2018 | |
|
Authorised amount |
Amount allocated as of 30 June 2018 |
Amount allocated as of 30 June 2017 |
|
|---|---|---|---|
|
in €bn |
|||
|
Export credit guarantees |
160.0 | 118.5 | 124.5 |
|
Loans to foreign debtors, direct foreign investment, EIB loans |
65.0 | 43.0 | 44.0 |
|
Financial cooperation projects |
28.5 | 20.7 | 17.9 |
|
Food stockpiling |
0.7 | 0.0 | 0.0 |
|
Domestic guarantees |
158.0 | 100.8 | 102.5 |
|
International financial institutions |
66.0 | 60.1 | 60.0 |
|
Treuhandanstalt successor organisations |
1.0 | 1.0 | 1.0 |
|
Interest compensation guarantees |
8.0 | 15.0 | 15.0 |