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Austria's Initial Federal Deficit for 2024 Better Than Expected
Austria's federal deficit for 2024 ended up being 1.7 billion euros lower than initially forecast, standing at 19.1 billion euros. This positive outcome comes despite economic challenges, with lower-than-expected government spending helping offset revenue shortfalls.
Austria's federal deficit for 2024 ended up being 1.7 billion euros lower than initially forecast / Picture: © Wikimedia Commons, Håkan Dahlström from Malmö, Sweden, CC BY 2.0
Austria’s federal deficit for 2024 amounted to 19.1 billion euros, which is 1.7 billion euros lower than initially projected. This decrease is mainly due to lower-than-expected spending, particularly in areas like interest payments and export promotion. At the same time, revenue shortfalls of 1.1 billion euros were recorded, driven by delays in the EU recovery fund and reduced social…
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