F. A. Z. exclusive: Federal employment Agency makes a 10 billion Euro deficit

The Corona-crisis rips in the budget of the Federal employment Agency (BA) is a substantial financial gap. In just the first six months of the year she has made

F. A. Z. exclusive: Federal employment Agency makes a 10 billion Euro deficit

The Corona-crisis rips in the budget of the Federal employment Agency (BA) is a substantial financial gap. In just the first six months of the year she has made of 10.28 billion euros deficit, such as from the as yet unpublished report on the financial development of the unemployment insurance for the first half of the year, which has been submitted to the F. A., for example. The major reason is the rapid rise in expenditures for short - time workers and the unemployed of money.

Britta Beeger

editor in the economy.

F. A. Z. Twitter

The revenue, amounted, therefore, to the end of June to around 16 billion Euro due to lower premium income of almost one billion euros less than originally planned. Significantly more serious is the difference, however, in the case of expenditure. They amounted in the first six months of the year to more than 26 billion euros and was thus 41.5 percent over the plans.

Here, in particular, the economic fall short-time working money, including the associated reimbursement of the social insurance contributions: The expenditure amounted to 7.85 billion euros – after only 62 million Euro in the prior-year period. The payments for unemployment benefit exceeded the prior-year figure, with 9,33 billion euros, after all, more than a fifth.

spending more

As the BA writes in the report, are to be expected for the second half of the year, "more substantial, more spending" to. The signs of other, internal, according to the documentation now. Accordingly, the expenditure for the economic increased short-time working allowances and the reimbursement of social security contributions until the beginning of August to around 11.9 billion euros for the unemployed money to 12.2 billion Euro – an order of magnitude, which has not existed in the history of the BA yet. For the full year, the authority calculates, according to chief financial officer Christiane Schönefeld, at the recent press conference currently with a deficit of up to 30 billion euros.

How high it is, does not depend only on the number of short-time workers is developing, but also on how long you are in short-time work and work failure. The BA has so far assumed that the average loss of work time amounts to 50 per cent. On the basis of the accounting data of the enterprises they now, however, that it may be more like 40 percent, which would reduce the expenditure. In this direction, a survey by the Munich Ifo Institute suggests. Accordingly, the loss of work is an average of 43 percent – but with considerable Differences between the individual sectors.

Updated Date: 12 August 2020, 10:19

You need to login to comment.

Please register or login.

RELATED NEWS