Maastrichtdeficit ratio for 2007 amounting to 0.2%
WIESBADEN– As reported by the Federal Statistical Office (Destatis), net lending/net borrowing of general government, which has to be calculated for purposes of the European Stability Pact, must be corrected for reference year 2007 with regard to the result published in August 2008. This is due to the implementation of a Eurostat decision stating that the actions taken by the Kreditanstalt für Wiederaufbau (Development Loan Corporation) in 2007 in the context of the risk protection for the Deutsche Industriebank AG must be recorded in the general government accounts. Consequently, net borrowing of the Federation deteriorated from EUR 18.7 billion to EUR 26.0 billion in reference year 2007. This results in – recalculated – net borrowing of general government of EUR 4.0 billion. Net borrowing of EUR 26.0 billion was calculated for the Federation, whereas the Länder (net lending of EUR 3.4 billion), municipalities (net lending of EUR 8.3 billion) and social security funds (net lending of EUR 10.4 billion) achieved in part considerable surpluses. When measured by the gross domestic product at current prices (EUR 2,422.9 billion), this corresponds to a deficit ratio of general government of 0.2% in the reference year. The ratio thus was markedly below the reference value of 3% of the gross domestic product indicated in the protocol of the Maastricht Treaty. The data for the first half of 2008, which were published in August 2008, are not affected by the correction. For further information please call: Thomas Forster, tel: (+49-611) 75-2795,
