Sponsored Content
Deficit Forecast for 2024 Rises to 3.3 %: Austria Facing Economic Challenges
The Ministry of Finance has raised its deficit forecast for the 2024 budget to 3.3% of GDP, which puts the deficit above the Maastricht limit of 3%. The reasons for this development include the sluggish economic recovery, the effects of the flood disaster, and the increase in the climate bonus. This represents a significant deterioration, as the forecast in March was still 2.9%.
The measures taken by the government to stabilize the economy, particularly concerning flood damage and climate change, will be decisive in determining whether the deficit can be reduced again in the medium term. / Picture: © Wikimedia Commons / Gugerell / CC0
Economic experts such as the Fiscal Council and the financial institutes WIFO and IHS had already expected a deficit of over 3%. The Fiscal Council is even forecasting a figure of 3.4%. The weak economic development and the unpredictable consequences of natural disasters have a particularly negative impact. Austria's debt ratio is now expected to be 79.3% of GDP in 2024, corresponding…
or Log In
Fast News Search