Federal Employment Agency plans €8.2bn deficit in 2027 budget
NUREMBERG – November 13, 2026 -- The Federal Employment Agency (Bundesagentur für Arbeit, BA) plans a deficit of €8.2 billion in its 2027 budget, which its Administrative Board has adopted. Federal loans will cover the gap. With loans taken in 2025 and 2026, the debt to the federal government is set to reach up to €18.7 billion by the end of 2027. That equals about 44% of the €42.4 billion in contribution income planned for 2027, by our calculation.
The 2027 deficit is smaller than 2026's, but the loan stock keeps growing
The BA expects a shortfall of up to €9.0 billion in 2026, also covered by federal loans. Against that ceiling, the 2027 deficit is €0.8 billion, or about 9%, lower. If 2026 reaches the full €9.0 billion, the stated figures imply roughly €1.5 billion in loans from 2025 (€18.7 billion minus €9.0 billion minus €8.2 billion). The BA did not disclose repayment terms or interest conditions for the loans.