After agreement on financial package
Financial agency: With debt package, higher interest expenses
The huge debt plans of the Union and the SPD will leave traces in the state finances. The finance agency is still optimistic about borrowing – for several reasons.
The financial agency responsible for the federal debt management is well equipped for the immense financial package of the SPD and Union, but expects higher state interest expenses. The finance agency for the time being, the finance agency states, as the company in Frankfurt announced.
The finance agency can cover a short -term medium -sized requirement with its liquidity buffer, said Managing Director Tammo Diemer. “We can rule out a Middle Sengpass.” The finance agency has a liquidity buffer in the amount of a medium -sized double -digit billion dollar amount. The money comes from public institutions that borrow excess funds from the finance agency and get interest.
34 billion euros for interest expenses 2024
According to December, around 380 billion euros are to come to the state treasury via the auction of federal securities. According to the federal government, the interest expenditure of the federal government was 34 billion euros. In the future it will be more: “Increased funds will bring with increased interest expenses.” Diemer did not name a specific amount.
The issuing planning for the second quarter remains the same, according to the finance agency. Diemer said that no major changes are planned when planning for the second half of the year. However, the finance agency, which is entrusted with the federal government’s borrowing, will again spend federal bonds in the second half of the year with seven years of term.
To be expected further billions
The Union and SPD financial package provides for a loosening of the debt brake for higher defense spending and a credit -financed special fund for infrastructure and climate protection of 500 billion euros.
The Federal Audit Office expects additional annual interest payments of twelve billion euros after the ten-year infrastructure special. Due to the loosening of the debt brake for defense, another 25 billion euros in interest payments cannot be ruled out annually.
Retites of federal bonds have increased significantly
Germany enjoys a top bereau on the financial markets. Large investors such as banks, insurers and pension funds like to buy German government bonds. In expectation of rapidly increasing public debt, the returns of ten -year federal bonds have risen rapidly. So a flood of new bonds should be made, which the federal government has to make investors tasty.
dpa
Source: Stern
