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Austria: Budget Deficit in 2012 Lower Than Expected
The country has reached a significantly lower deficit than the government had expected. According to Statistik Austria, the deficit was at 2.5 % of GDP in 2011, equaling € 7.7bn.
Austria: Budget Deficit in 2012 Lower Than Expected / Picture: © Vindobona.org
The data was released on Thursday by Statistik Austria. Only in fall last year, the Finance Ministry assumed a deficit rate of 3.1 %. Compared with 2011, the debts have increased. At the end of 2012 it was 73.5 % of GDP which equals a total of € 227.4bn (2011: 72.5 %, € 217.9bn). The federal budget deficit estimate for 2012 was 74.6 %.
Therefore, the budget deficit was again…
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