Landeskreditbank Baden-Württemberg - L-Bank

BUDGET OF THE STATE OF BADEN-WÜRTTEMBERG
The following table sets forth the revenues and expenditures of Baden-Württemberg for the years indicated.
Revenues and Expenditures for the fiscal years ended December 31, 2004, 2003, 2002, and 2001
Year ended
Year ended
Year ended
Year ended
2004 Change (1) 2003 Change (1) 2002 Change (1) 2001
December 31,
December 31,
December 31,
December 31,
(in billions
of EUR) (in %)
(in billions
of EUR) (in %)
(in billions
of EUR) (in %)
(in billions
of EUR)
I. Revenue
1. Taxes ........... 22.3 1.4 22.0 3.3 21.3 (3.4) 22.1
2. Net borrowing (2) . . . 2.0 0.0 2.0 9.4 1.9 (17.4) 2.3
3. Miscellaneous
revenues ......... 7.2 (2.2) 7.4 1.0 7.3 (3.0) 7.6
4. Total ............ 31.6 0.5 31.4 3.1 30.5 (4.3) 31.9
II. Expenditures
1. Public servants .... 13.1 2.1 12.8 0.5 12.7 3.5 12.3
2. Investments (3) ..... 2.6 (10.8) 2.9 (5.3) 3.1 (25.1) 4.1
3. Interest
payments ........ 1.9 3.2 1.8 8.0 1.7 4.8 1.6
4. Principal
payments ........ 0.1 30.9 0.1 2.0 0.1 68.9 0.0
5. Payments for
horizontal revenue
equalization (4) ..... 2.1 14.2 1.9 2.6 1.8 (21.3) 2.3
6. Miscellaneous
expenditures ...... 11.5 (6.2) 12.3 5.7 11.6 2.7 11.3
7. Total ............ 31.7 (0.1) 31.7 2.4 31.0 (2.2) 31.7
III. Adjusted total
expenditures (5) 31.3 0.7 31.0 0.9 30.8 (2.5) 31.6
(1) Percentage changes are calculated on the basis of unrounded figures.
(2) In the capital markets. Net borrowings include borrowings to finance the purchases of silent participations in
LBBW for an amount of EUR 1,009.7 million in 2001.
(3) Investments include the purchases of silent participations in LBBW for an amount of EUR 1,009.7 million
in 2001.
(4) Actual payments, not payment obligations, for the year indicated.
(5) Formal budget volume minus retirement of debt in the capital markets and special financing procedures.
Source: State Ministry of Finance, Department 2, Team 21.
Projected Total Indebtedness
The following table sets forth projected total indebtedness of Baden-Württemberg as formulated in the
State’s most recent medium term plan drafted in 2005:
2005 2006 2007 2008
(in millions of EUR)
Projected total indebtedness incurred .................................... 1,990 1,990 1,7 1,500
Source: State Ministry of Finance, Department 2, Team 21.
62