Leitl: Municipal Financial Problems Act as Growth Brake

People ♦ Published: December 22, 2010; 12:46 ♦ (Vindobona)

The President of the Austrian Federal Economic Chamber (WKÖ), Christoph Leitl, demands greater spending efficiency in the public sector in order to improve municipal finances.

Leitl: Municipal Financial Problems Act as Growth Brake / Picture: © Vindobona.org

In Austria, seven out of ten municipalities are already undergoing a negative budget situation. While expenditure on health and social issues such as for example care services are increasing disproportionately, investment spending is decreasing. The President of the Austrian Federal Economic Chamber (WKÖ, Wirtschaftskammer Österreich), Christoph Leitl, says: "This reluctance to invest…

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