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Austria's Tax Revenues are Higher than Expected

People ♦ Published: December 17, 2010; 00:00 ♦ (Vindobona)

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As the economy developed relatively well this year relatively, tax revenues increased. The deficit for 2010 might therefore turn out to be lower than planned.

Austria's Tax Revenues are Higher than Expected / Picture: © IHS Vienna

The Austrian Ministry of Finance can count on € 1.5bn more in tax revenues than was projected. Also gratifying for the state is the continuing low interest rate environment, which is why expenditure has not risen as much as had been calculated. Bernhard Felderer, head of the Government Debt Committee and outgoing Director of HIS (Institute for Advanced Studies), said that the budget…