Austria's Public Debt Ratio Increases to over 80%

Business › Economy ♦ Published: March 8, 2011; 00:27 ♦ (Vindobona)

By including again non-active budget items, which are no longer allowed under EU law, debts of the Republic of Austria increase dramatically.

Austria's Public Debt Ratio Increases to over 80% / Picture: © Vindobona.org

The official debt ratio is currently ranked at 72.5%. Because of the new rules of the EU statistics agency Eurostat for measuring the debt ratio, a strong upward correction is expected. The consolidation policy is strongly impeded by the reintegration of items handled previously as off-budget. Only recently, the sale of housing loans for € 400m was not recognized. The amounts due from…

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