The reserves of the Federal Agency for work has risen to the beginning of the year to the record level of around 23.5 billion euros. This is according to the calculations of the research Institute of the BA is sufficient to cyclical fluctuations, told the authority on Tuesday after their annual financial statements for 2018.
The Federal Agency had achieved in the past year in the contributions of workers and employers, financed unemployment insurance Fund a Surplus of EUR 6.2 billion. “So that we can reduce the contribution rate significantly and still with a solid Economic losses in the future,” said BA’s chief financial officer, Valerie Holsboer.
2019 expected Surplus
The Surplus was much higher than initially expected. Originally the BA was assumed to be an increase in the amount of 2.5 billion euros, later they had corrected the forecast but, to 5.3 billion euros. The reason is the positive development on the labour market, which have led to significantly lower expenditure, BA-chief financial officer Valerie Holsboer said on Tuesday in Nuremberg. “Unemployment is down for the fifth Time in a row and is at its lowest level since reunification.”