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Austrian Budget: One Third for Pensions and Interest Spending
Politics ♦
Published: September 19, 2012; 17:53 ♦ (Vindobona)
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The Austrian Audit Court published a report on the budgetary situation today. Last year, expenses “for the past” already came at € 24bn.
Austrian Budget: One Third for Pensions and Interest Spending / Picture: © Vindobona.org
In Austria, the welfare state is not sustainable, Kapsch criticizes. Problems are obvious for years, Kapsch says. Financial institutions did not create the weakness of the public finance. The weakness of the budgetary situation became only transparent and was sharpened, Kapsch said.
Interest spending totaled € 6.8bn in 2011. Moreover, pension costs reached € 17.1bn. The…
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