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April:
A 
Stability Programme,
showing the medium-term development of the public
finances, is published in compliance with EU rules. These public finance figures reflect the
Benchmark Figures.
May-June:
Detailed budgetary discussions
take place between the Federal Ministry of
Finance (in particular its “mirror units” and their counterparts in the line ministries) on the
detail of their allocations and policies.
June/July: Cabinet decision
on the draft Federal Budget.
August:
The 
draft federal budget is submitted
by the government to the 
Bundestag
and
the 
Bundesrat
, along with the five-year Financial Plan. 
September: First reading
of the draft federal budget in the Bundestag and the 
Bundesrat
.
September-October:
The Budget Committee of the 
Bundestag
considers the draft budget.
Rapporteurs from the Budget Committee have detailed discussions with the various
ministries on the budget proposals. Amendments and further specifications/conditions
may be put forward.
December'>November/December:
The draft budget goes through second readings in the 
Bundestag
and
the 
Bundesrat
. A final “settlement session” is held in the Budget Committee of the 
Bundestag
,
at which all outstanding issues must be resolved in advance of the final reading and passage.
December
(of year 
y-1
): The 
Budget Act
for year 
y
is signed into law by the Federal President.
Meanwhile the new budget cycle for year for year 
y+1
will have commenced.

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BUDGET REVIEW: GERMANY
OECD JOURNAL ON BUDGETING – VOLUME 2014/2 © OECD 2015
18
best be described as comprising three distinct phases or “arcs”, in which budget policy
formulation receives inputs from independent sources, progresses internally within the
public administration, and gives rise to budget-related documents that feed into the
processes of both EU surveillance and parliamentary scrutiny and authorisation. These
policy arcs are presented in Figure 1and are described in more detail below.