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Austria´s Budget Deficit to Decrease Slightly
Politics ♦
Published: November 16, 2012; 22:50 ♦ (Vindobona)
Today, the Austrian National Assembly has resolved the budget for 2013. This year, Austria will not fulfill the Maastricht Criteria.
Austria´s Budget Deficit to Decrease Slightly / Picture: © Vindobona.org
In 2013, Austria´s budget deficit is expected to reach 2.3%. Due to the banking package, the austerity target of 2012 will not be reached. Initially, the Austrian government expected to reach a budget deficit of 2.9% in 2012. However, the deficit will come at 3.2%.
As Hypo Group needs a capital injection of € 500m, public expenses were higher than estimated. The Ministry of…
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