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Massive Rise of Debt in the Public Sector
Politics ♦
Published: December 31, 2010; 16:44 ♦ (Vindobona)
Austria's debt is rising dramatically. Not only the state budget, but also the provinces and municipalities are the major contributors to this situation.
Massive Rise of Debt in the Public Sector / Picture: © Vindobona.org
In the period September 2009 to September 2010, government debt rose by € 10.5bn, equivalent to 2.0 percentage points of the GDP. Therefore, according to calculations by Statistik Austria, the national debt on September 30, 2010 amounts to € 195.6bn or 69.5% of the gross domestic product.
In the yearly comparison, the federal debt increased by 3.9%, that of the provinces…
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