Austria: Government Wants “Restrictive Budget Performance”

Politics ♦ Published: April 8, 2014; 17:55 ♦ (Vindobona)

Today the Austrian government has decided upon a “restrictive budget performance.

The government still hopes to achieve zero deficit in 2016. / Picture: ©

By this the deficit is supposed to remain below the level of three percent, as required by the European Union, in spite of the downsizing of problem bank Hypo Group Alpe Adria. In case deviations appear, counter measures are supposed to be applied. Moreover, as reported by the Austrian Press Agency (APA), there are rules for the use of reserves, according to the decision made in the…