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22 October 2018

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

Data from the October 2018 monthly report

Federal budget trends up to and including September 2018

 

Actual 2017

2018 target

Actual1 January-September 2018

Expenditure (€bn)2

325.4

343.6

247.3

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

 

+1.5

Revenue (€bn)2

330.4

341.7

253.4

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

 

+6.8

Tax revenue (€bn)

309.4

321.3

234.4

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

 

+5.8

Fiscal balance (€bn)

5.0

-1.9

6.1

Financing/use of surplus:

-5.0

1.9

-6.1

Cash resources (€bn)

-

-

35.7

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

-42.0

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 August 2018

September 2018

September 2018

30 September 2018

September 2018

Budget borrowing

1,082,936

13,969

-13,020

1,083,884

949

broken down by purpose

Federal budget

1,041,512

13,521

-12,572

1,042,461

949

Financial Market Stabilisation Fund

22,466

384

-384

22,466

0

Investment and Redemption Fund

18,958

64

-64

18,958

0

broken down by dept type

Federal securities

1,070,316

13,969

-13,020

1,071,264

949

Federal bonds

700,088

3,189

-

703,277

3,189

30-year federal government bonds

214,567

995

-

215,561

995

10-year federal government bonds

485,521

2,194

-

487,716

2,194

Inflation-linked federal securities

63,556

747

-

64,304

747

30-year inflation-linked federal bonds

7,531

179

-

7,709

179

10-year inflation-linked federal bonds

56,026

569

-

56,594

569

Federal notes

191,501

2,855

-

194,356

2,855

Federal Treasury notes

99,592

3,983

-13,000

90,575

-9,017

Treasury discount papers issued by the Federation

14,145

3,195

-

17,340

3,195

Other federal securities

1,432

-

-20

1,412

-20

Securitised loans

8,145

-

-

8,145

-

Other loans and ordinary debts

4,475

-

-

4,475

-

broken down by maturity

up to one year

154,972

 

 

157,149

2,177

one to four years

327,183

 

 

336,988

9,804

over four years

600,781

 

 

589,748

-11,033

Additional information:1

Liabilities from the capital indexing of inflation-linked federal securities

4,735

 

 

4,548

-187

Reserves in accordance with the Final Payment Financing Act ( Schlusszahlungsfinanzierungsgesetz )

3,484

 

 

3,505

20

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

Period

Total tax revenue

Projection for 20181

710,545

Spetember

68,972

January to September

523,415
Guarantees

Authorised amount

Amount allocated
as of 30 September 2018

Amount allocated

as of 30 September 2017

in €bn

Export credit guarantees

160.0 120.3 121.1

Loans to foreign debtors, direct foreign investment, EIB loans

65.0 42.8 44.0

Financial cooperation projects

28.5 21.1 17.9

Food stockpiling

0.7 0.0 0.0

Domestic guarantees

158.0 101.1 103.2

International financial institutions

66.0 60.0 60.0

Treuhandanstalt successor organisations

1.0 1.0 1.0

Interest compensation guarantees

8.0 15.0 15.0