Regulation on the procedure for the determination of the economic component in accordance with Article 115 of Article 115 (Article 115-Regulation-Art115V)

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Art115V

Date of completion: 09.06.2010

Full quote:

" Article 115-Regulation of 9 June 2010 (BGBl. I p. 790) "

Footnote

(+ + + Text evidence from: 19.6.2010 + + +) 

  

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Input formula

Pursuant to Article 5 (4), first sentence, of Article 115 of the Law of 10 August 2009 (BGBl. 2702, 2704), the Federal Ministry of Finance, in agreement with the Federal Ministry of Economics and Technology, is responsible for: Unofficial table of contents

Article 1 Subject of the Regulation

This Regulation regulates the determination of the economic component in the establishment of the federal budget in accordance with § 2 (2) of the Act, on supplements to the budget law in accordance with § 8 sentence 3 of the Act and after the financial year has been concluded in accordance with § 7 The first sentence of paragraph 1 of the Act. Unofficial table of contents

Section 2 Determination of the economic component in the budget

(1) The economic component of the budget allocation (Section 2 (2) of the Law in conjunction with Section 5 of the Law) shall be multiplied by the output gap determined in accordance with paragraph 2 by the budget sensitivity determined in accordance with paragraph 3. (2) In order to calculate the output gap as the difference between gross domestic product and production potential (Article 5 (2) of the Law), the production potential is estimated to be the one achievable in the normal utilisation of the factors of production. Gross domestic product. The estimation shall be carried out in accordance with the procedure followed in the context of budgetary surveillance in accordance with the European Stability and Growth Pact, with the aid of an overall economic production function of the Cobb-Douglas type. The production function results in the production potential as a combination of the normally used production factors labour and capital stock, multiplied by the trend of total factor productivity as a measure of the technical (3) Budget sensitivity (Section 5 (3) of the Act) records the cyclically-induced change in the federal funding balance in relation to the gross domestic product, if the gross domestic product is a percentage of the gross domestic product. Production potential is different. It is calculated as the sum of the partial elasticities of the general government budget sensitivity, weighted with the federal shares in the revenue and expenditure of the general government budget, which is also weighted in the procedure for Budgetary surveillance in accordance with the European Stability and Growth Pact. (4) The data base for the determination of the business cycle component is the data of the National Accounts of the Federal Statistical Office and the Current macroeconomic forecast of the Federal Government for the short and medium term. Unofficial table of contents

Section 3 Determination of the economic component after financial statements

In the determination of the deviation to be booked in accordance with § 7 of the law on the control account, the effect of the economic development on the budget is to be used for the calculation of the permissible borrowing (economic component according to the invention). Financial statements). For this purpose, the economic component determined at the time of the budget preparation according to § 2 shall be adapted to the actual economic development by the production gap for the relevant financial year. The correction is made on the basis of the difference between the change in gross domestic product observed at the time of booking on the control account by the Federal Statistical Office and the expected change in gross domestic product at the time of the budding of the budget. Unofficial table of contents

Section 4 Determination of the economic component in case of supplements to the budget law

In the case of subsequent to the budgetary act in accordance with § 8 sentence 3 of the law, the economic component determined at the time of the household presentation in accordance with § 2 will be addressed to the interim changes in the assessment of the overall economic development in the financial year adjusted by the difference between the production gap determined at the time of the presentation of the budget and the difference between the expected change at the time of the drawing up of the supplementary budget and the expected change at the time of the presentation of the budget. gross domestic product in the financial year. Unofficial table of contents

§ 5 Entry into force

This Regulation shall enter into force on the day following the date of delivery.