Massive Increase in Public Debt

Politics ♦ Published: February 10, 2011; 00:56 ♦ (Vindobona)

Austrian public debt could rise dramatically soon by a new calculation involving separate legal entities.

Massive Increase in Public Debt / Picture: ©

Austria is currently in negotiations with representatives of the EU statistical office, Eurostat. Depending on the results of the negotiations, the official debt of the Republic might increased significantly. Currently, the debt ratio amounts to 70% of the GDP.

This is due to the separate state infrastructure legal entities, such as the federal railways ÖBB and the motorway…