Austrian Stability Pact Signed

Politics ♦ Published: May 10, 2012; 17:04 ♦ (Vindobona)

The Austrian Federation, the provinces and the municipalities agreed on the stability pact. Until 2016, a zero deficit should be reached.

Austrian Stability Pact Signed / Picture: ©

After weeks of negotiations, the Austrian public authorities agreed on a common austerity policy. With a new stability pact, the public budget deficits should be completely cut until 2016. The Austrian Ministry of Finance plans to reach a zero deficit then. This year, the federal budget deficit is expected to amount to 2.47% In 2013, the deficit should reach 1.75%. By 2017, the treaty…