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IHS: No Zero Deficit until 2021

People ♦ Published: August 24, 2011; 14:44 ♦ (Vindobona)

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The research institute calculated that Austria will not be able to achieve a balanced budget in the next ten years. Felderer calls for reforms of the pension and healthcare systems.

IHS: No Zero Deficit until 2021 / Picture: © IHS Vienna

Bernhard Felderer, head of the Institute for Advanced Studies (IHS), on Tuesday presented a model calculation which shows that Austria will not achieve a balanced budget in the next ten years. In the year 2021, the public deficit would still be approximately 1.8% of GDP. The government debt ratio would decline to 65% by this date, however, the 60% mark would be out of reach without…