Austria: Budget Gap Smaller than Expected

People ♦ Published: November 13, 2013; 16:37 ♦ (Vindobona)

The budget gap will, according to the latest reports, comes at an amount between € 21bn and 25bn until the year 2018. Earlier there had been talk of a shortfall amounting up to € 30bn to € 40bn.

Austria: Budget Gap Smaller than Expected / Picture: ©

There is no end in sight to the budget negotiations between the coalition parties. The Finance Ministry was not able to publish any detailed figures about the budget gap. In the course of the coalition talks, fiscal issues turn out to be most controversial. Simply said, the fiscal situation is more tense than expected. Instead of tax cuts, Austrians face austerity measures.