The article examines the efficiency of medium-term financial planning in Germany from the point of view of the accuracy of budget projections for federal expenses. The author used the data on the formation and execution of three five-year plans (for 2002–2006, 2007–2011, 2012–2016). In order to consolidate and standardize the items of the functional classification of expenses used in Germany’s federal financial plans, the author has transformed these items into the divisions of  the  functional  classification  of  expenses  established  by  the  International  Monetary  Fund.  This transformation  allowed  to  estimate  the  accuracy  of  German  financial  planning  according  to  the PEFA methodology. The comparison of financial plans with their execution was carried out in four profiles  (total expenses  by  functional  classification,  total  expenses  by  economic  classification, current  expenses  by  functional  classification,  capital  expenses  by  functional  classification).  The results  of  calculations  ledto  the  conclusion  that  with  the  transition  from  the  first  of  the  above-mentioned  five-year  plans to  the  second  one  and,  further,  to  the  third  one,  the  deviations  of  the actual expenses from the planned ones reduced consistently: in total volumes, in both classifications (functional  and  economic),  in both  dimensions  (absolute  and  relative).  This  indicates  a  deliberate increase  in  the  accuracy  of  the  budget  expenditures’  planning  in  Germany  on  the  base  of  new budget technologies.