New High for Austria´s New Indebtedness

BusinessEconomy ♦ Published: April 27, 2011; 07:30 ♦ (Vindobona)

Austria´s budget deficit for 2010 is at 4.6%, which is the highest one in the last 15 years. However, the average of EU-countries is even higher.

New High for Austria´s New Indebtedness / Picture: ©

The public deficit for Austria in 2010 amounted to 4.6%. Thus, the figure was below the average EU level of 6.0%. However, the deficit is the highest one since 1995. The overall debt ratio of Austria is with a 72.3% quota significantly above the Maastricht criteria, which allows a maximum of 60%. The ration in 2009 was at 69.6%. This increase is not only due to new…