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Austria's Double Budget 2018/2019 - Cautious Optimism

Published: March 22, 2018; 15:00 · (Vindobona)

Finance Minister Hartwig Löger (ÖVP) presented his first budget. Austria's new federal government wants to earn more than it spends. The double budget for 2018 and 2019 should herald a new era. The Austrian state has been spending more than it takes for 65 years and this is to be reversed for the first time in 2019. Debt policy is to be ended. A budget surplus of 541 million euros is to be achieved and thus a turning point in budget policy. Most money should be spent on pensions, least on health.

Löger: Double budget 2018/2019: "Saving within the system" / Picture: © BMF - Bundesministerium für Finanzen / citronenrot [CC BY 2.0]

The Austrian economy is doing well at present. The upswing will lead to a new record in government revenue. Between 2018 and 2022, state revenues will increase by almost 9 billion euros, an increase of 12 percent.

A budget surplus could therefore have been targeted as early as 2018, but was not implemented. Thanks to the low-interest policy, the interest burden on the…

This article includes a total of 472 words.

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