What is a net lending position?

Question

The newspapers mention that Germany has only achieved a net lending position twice in the past 34 years.

Answer 1

This is government-speak for you. Net lending (surplus) or net borrowing (deficit) is the financial position of the federal government. It is calculated as follows:
(1) Total receipts minus total expenditures are reported as net saving.
(2) Net saving plus amounts reported for depreciation of federal government fixed assets is reported as gross saving.
(3) Gross saving minus federal government gross investment and plus relatively small amounts of net capital transfers is then reported as net lending or net borrowing.

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