Public finances German government adopts extensive assistance package for regions affected by floods
Germany’s federal cabinet today approved financial support measures to provide immediate and unbureaucratic assistance to regions affected by recent floods. The federal government will provide an initial €200m to cover half of the costs of immediate assistance measures launched by the Länder. In addition, it will contribute financially to a comprehensive recovery programme.
Public finances Emerging from the crisis with sound fiscal policy and optimism
The federal cabinet today adopted the government draft for the 2022 federal budget and the fiscal plan to 2025. The German government is continuing to pursue a decisive fiscal policy that includes large-scale assistance measures and record investment levels. In addition, the numbers show that the federal government is in good fiscal shape. Germany’s debt ratio is far lower than projected and …
Public finances German government adopts supplementary budget for 2020
German government adopts supplementary budget for 2020
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.
Public finances Financial Times interview with Olaf Scholz
In an interview with the Financial Times, German finance minister and vice chancellor Olaf Scholz speaks about current issues. Focusing on the federal budget, he also outlines the prospects for Brexit. He emphasises the importance of a balanced budget without new debt whilst taking account of the need for “social cohesion” and the importance of the welfare state.
Public finances Provisional closure of the 2018 federal budget – well-managed budgets and record investments
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 …
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 …