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Austrian Federal States and Municipalities Record Massive Rise in Debt

Politics ♦ Published: September 24, 2012; 21:45 ♦ (Vindobona)

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Since 2007, the debt level of Austrian federal states rose by 87%. In the same period, the Austrian Federation´s debt was up by 27%.

Austrian Federal States and Municipalities Record Massive Rise in Debt / Picture: © Vindobona.org

According to the Austrian Audit Court, the debt situation of Austrian municipalities and federal states is concerning. In the last five years, the debt of municipalities was up by 72.3%. The debt level of federal states grew even stronger. However, federal states and municipalities received 75% of the tax increase.

At the moment, the debt level of Austrian provinces comes at €…