Austrian Government Plans Deficit of EUR 22.6 Billion

Lifestyle & TravelMore+ ♦ Published: November 20, 2020; 17:15 ♦ (Vindobona)

Due to the ongoing Covid-19 pandemic and the resulting economic crisis, the Austrian government has agreed on a budget that plans with a deficit of EUR 22.6 billion for next year. Estimated lower revenues due to the weak economy on the one side face higher expenditures because of the subsidies for various businesses on the other.

Next year's budget focuses on Covid-19 aids as well as a decrease in revenue due to the pandemic. / Picture: © BMF - Federal Ministry of Finance - Bundesministerium für Finanzen / Andy Wenzel / Flickr Attribution 2.0 Generic (CC BY 2.0)

The parliamentary discussions on the 2021 budget have been concluded.

After ten days of negotiations, the National Council gave the green light for the second Covid-19 crisis budget and the new federal financial framework.

No changes were made to the draft budget approved by the committee. …