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20 September 2018

Overview of fed­er­al bud­getary and fi­nan­cial da­ta up to and in­clud­ing Au­gust 2018

Data from the September 2018 monthly report

Federal budget trends up to and including August 2018

 

Actual 2017

2018 target

Actual1 January-August 2018

Expenditure (€bn)2

325.4

343.6

222.2

Year-on-year change in % (year to date)

 

+1.3

Revenue (€bn)2

330.4

341.7

221.4

Year-on-year change in % (year to date)

 

+7.7

Tax revenue (€bn)

309.4

321.3

204.0

Year-on-year change in % (year to date)

 

+6.0

Fiscal balance (€bn)

5.0

-1.9

-0.8

Financing/use of surplus:

-5.0

1.9

0.8

Cash resources (€bn)

-

-

42.2

Seigniorage (€bn)

0.3

0.3

0.2

Movements in reserves3 (€bn)

-5.3

1.6

0.0

Net borrowing4 (€bn)

0.0

0.0

-41.6

Debt trends for the Federation and its special funds (in €m)

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

Federal bonds

694,160

5,928

-

700,088

5,928

30-year federal government bonds

213,574

993

-

214,567

993

10-year federal government bonds

480,586

4,936

-

485,521

4,936

Inflation-linked federal securities

63,554

2

-

63,556

2

30-year inflation-linked federal bonds

7,504

27

-

7,531

27

10-year inflation-linked federal bonds

56,051

-25

-

56,026

-25

Federal notes

188,626

2,875

-

191,501

2,875

Federal Treasury notes

95,753

3,839

-

99,592

3,839

Treasury discount papers issued by the Federation

18,755

2,413

-7,023

14,145

-4,610

Other federal securities

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

-

Total general government tax revenue (provisional, in €m)

Period

Total tax revenue

Projection for 20181

710,545

August

49,872

January to August

454,442
Guarantees

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