Austria: Public Spending Ratio Forces Country to Reforms

Politics ♦ Published: March 2, 2013; 10:32 ♦ (Vindobona)

Austria’s economy is stronger than the European average, however, it is still in need of reforms. Suggestions are made by head of WIFO Aiginger who demands a new strategy until 2025.

Austria: Public Spending Ratio Forces Country to Reforms / Picture: © WIFO Wirtschaftsforschungsinstitut

According to the newest data by the Austrian economic research institute (WIFO), the high public spending ratio, the chronically underfinanced education system and the financial instability of municipal administration are the major weaknesses of the economy. Head of WIFO, Karl Aiginger, considers the ratio of government expenditure to gross national product much too high. Currently,…