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Public finances Report on Germany’s public finances sent to EU: Budget surpluses amid a strong upturn
On 18 April 2018, the federal cabinet adopted the German Stability Programme for 2018. Germany will now send the programme to the European Commission and the ECOFIN Council, thereby fulfilling its obligations under EU rules to submit its medium-term fiscal plans to Brussels by the end of April each year. In the Stability Programme, Germany reports on its compliance with the requirements of the …
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Public finances Draft 2019 budget and financial plan to 2022: forward-looking, fair and responsible
On 6 July 2018, Germany’s federal cabinet adopted the government draft for the 2019 federal budget and the financial plan to 2022.
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Public finances Provisional closure of the 2018 federal budget
On 15 January 2019, the Federal Ministry of Finance presented the provisional closure of the 2018 federal budget. It showed that budgets have been well-managed while investments reached record levels. The provisional data shows that the Federation achieved a structural surplus of roughly 0.15% of gross domestic product (GDP) in 2018, thus meeting the requirements of Germany’s constitutional …
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Climate action FAQs: Climate Action Programme 2030
Germany has made both national and international commitments to cut its greenhouse gas emissions by more than half by 2030, compared with 1990 levels. To this end, the German government has launched a comprehensive climate package. What are its key elements? How does carbon pricing work? And how much will all of this cost? Here are the answers to these and other important questions.
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Public finances The cabinet makes social cohesion and modernisation priorities
On 20 March 2019, the federal cabinet adopted the benchmark figures for the 2020 federal budget and the financial plan to 2023. The government is planning record-level investments, the biggest tax cuts in over 10 years as well as comprehensive measures to boost social cohesion, ensuring that everyone in the country benefits from Germany’s economic success.
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Financial markets Key-issues paper on the regulatory treatment of electronic securities and crypto tokens
The Federal Ministry of Finance and the Federal Ministry of Justice and Consumer Protection have jointly published a key-issues paper discussing the possible introduction of electronic securities and the regulation of public offers of certain crypto tokens. The paper forms part of efforts to strengthen Germany’s role as one of the world’s leading digital technology and fintech locations.
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Financial markets Germany contributes to global financial stability
During a recent visit to Washington, D.C., former State Secretary Wolfgang Schmidt confirmed German financial support for two thematic technical assistance funds at the International Monetary Fund (IMF). The funds help IMF member countries to improve their statistics systems and to make their financial markets more resilient against crises.
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Financial markets Joint initiative with the Netherlands and France on the Capital Markets Union
Former Federal Minister of Finance Olaf Scholz has teamed up with Wopke Hoekstra and Bruno Le Maire, the finance ministers of the Netherlands and France, to launch an initiative to advance the Capital Markets Union, a step that will durably strengthen the EU internal market. The three finance ministers want to set up a high-level group of experts that will formulate specific milestones this year …
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Financial markets German Financial Stability Committee releases sixth annual report
In its meeting on 27 May 2019, the German Financial Stability Committee (G-FSC) decided to submit a recommendation to the German Federal Financial Supervisory Authority (BaFin). It is recommending to BaFin that the domestic countercyclical capital buffer (CCyB) be activated as from the third quarter of 2019 and lifted to 0.25%.
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Climate action Sustainable Finance Committee takes up work
The German government created a Sustainable Finance Committee on 6 June 2019. The Committee’s purpose is to advise the German government as it drafts and implements a sustainable finance strategy, as well as to pool existing expertise and foster dialogue between the relevant players.