Austrian Government Debt on the Rise

BusinessEconomy ♦ Published: June 29, 2012; 17:02 ♦ (Vindobona)

The Austrian public debt level rose to 73.5% of GDP or € 222.6bn in the first quarter of 2012. Above all, the situation of Austrian municipalities is precarious.

Austrian Government Debt on the Rise / Picture: ©

According to latest calculations by Statistics Austria, government debt amounted to € 222.6bn or 73.5 % of GDP on 31.03.2012. Government debt thereby is € 11.8 bn higher than in the fourth quarter 2011, which corresponds to an increase of 1.1 percentage points of GDP. By finance instruments € 182.2bn of government debt were securities other than shares, whereas € 40.4bn were…