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Austria's Budget Deficit One Billion Higher Than Expected
The Austrian economy faces far-reaching challenges: while the overall government budget deficit for 2025 is forecast to be one billion euros higher than originally assumed, massive bankruptcies, including that of Süba AG and the Höhrhan Group, are shaking the real estate and automotive supply industries.
The Austrian economy, which is in its longest recession since World War II, thus continues to face a tense budgetary situation and a sustained wave of insolvencies ranging from the automotive to the real estate industry. / Picture: © Wikimedia Commons / Gugerell / CC0
The Ministry of Finance informed the public and the EU about the revised budget forecast for 2025. The deficit is now expected to be around €23 billion, which corresponds to 4.54 percent of GDP (originally: 4.51 percent). Although this means that the deficit target of 4.5 percent of GDP will essentially be met, the figure is still miles above the EU's maximum requirement of three…
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