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Austrian Public Debt Almost at 80% of GDP

Published: April 24, 2014; 18:42 · (Vindobona)

The Austrian public debt burden will reach a new all-time high at the end of the current year. The challenging fiscal situation is partly attributable to the capital injections into Hypo Group Alpe Adria.

Spindelegger: Fiscal Situation Becomes Even More Difficult / Picture: © Flickr / The Austrian Foreign Ministry

Due to the enormous capital injections into the nationalized lenders Hypo Group and Kommunalkredit, Austria´s indebtedness is growing massively. Since 2008, the Republic of Austria has provided more than 9€ .0bn to distressed lender. At the end of 2014, the public debt level is expected to reach 79.2% of the gross domestic product, according to Minister of Finance Michael…

This article includes a total of 96 words.

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