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News from 2019-06-12 / KfW Research
KfW Municipal Panel 2019
Full coffers provide a reprieve but the outlook is clouding over
Most municipalities reported a good or even very good budget situation in the KfW Municipal Panel 2019. They were able to plan or even start many investment projects, so according to a nationwide estimate the perceived investment backlog has dropped to around EUR 138 billion, roughly the level of 2015. The surveyed treasuries, however, are significantly more sceptical about their future financial position. Moreover, around one third of investments cannot be realised as planned. So it remains to be seen whether the reduction in the backlog of investment can continue. The KfW Municipal Panel is based on an annual representative survey conducted by the German Institute for Urban Affairs. It covers municipal financial decision-makers in cities, communities and districts and is recognised as an important point of reference in economic policy debate in Germany.