Government net lending/borrowing in Germany

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: -3.8% 2027: -4.2% 2028: -4.1% 2029: -3.9% 2030: -3.8% 2031: -3.7%

-1.9 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	-1.9
Jan 1998	-2.6
Jan 1997	-3.0
Jan 1996	-3.6
Jan 1995	-9.4
Jan 1994	-2.5
Jan 1993	-3.1
Jan 1992	-2.6
Jan 1991	-3.2

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

Germany's government deficit is the negative balance of general government accounts when spending exceeds revenue over the year; when revenue exceeds spending, there is a surplus. It is compiled by Destatis and is usually expressed as a share of GDP.

How it's calculated

It is calculated as general government net lending or borrowing (federal government, Länder, municipalities and social security funds) under the harmonised ESA 2010 national accounts rules, measured against GDP to obtain the ratio.

Market implications

The deficit drives the government's financing needs and the path of debt. In Germany, the fiscal anchor of the euro area, it is followed closely against the constitutional debt brake (Schuldenbremse) and the EU rules; its stance sets the fiscal tone for the bloc.

Limitations

It is a low-frequency figure subject to revision alongside the national accounts. The headline balance should be distinguished from the primary balance (which excludes interest) and from the cyclical component tied to the economic cycle.