Germany recorded a EUR 189.2 billion budget deficit in 2020, the first gap since 2013 and the highest since the German reunification 30 years ago, due to the coronavirus pandemic. It compares with a EUR 45.2 billion surplus in 2019. Expenses jumped 12.1 percent to EUR 1679 billion while revenues decreased 3.5 percent to EUR 1489 billion. In 2020, the government adopted the largest assistance package ever to help containing the effect of the coronavirus pandemic, including tax benefits, support for companies and families. Also, income from taxes fell 3.8 percent as the pandemic led to a rise in unemployment and a fall in consumption. German Finance Minister promised in March to do whatever was needed to help the economy rebound from the pandemic as the country continues to battle with rising infections and a nationwide lockdown and announced a supplementary budget of EUR 60 billion, raising the net borrowing to more than EUR 240 billion so far this year. source: Deutsche Bundesbank
Government Budget Value in Germany averaged -11.24 EUR Billion from 1991 until 2020, reaching an all time high of 40.63 EUR Billion in the third quarter of 2000 and a record low of -68.41 EUR Billion in the third quarter of 2020. This page provides the latest reported value for - Germany Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany General Government Budget Value - values, historical data and charts - was last updated on May of 2021.
Government Budget Value in Germany is expected to be -17.00 EUR Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Budget Value in Germany to stand at -13.00 in 12 months time. In the long-term, the Germany General Government Budget Value is projected to trend around 11.00 EUR Billion in 2022 and 20.00 EUR Billion in 2023, according to our econometric models.