Public Deficit Amounts to 9.4%, Public Debt to 82.6% of GDP in First Half Year of 2020

PeopleOther ♦ Published: September 30, 2020; 11:30 ♦ (Vindobona)

Austria's government has lost its successful path to a lower public deficit due to Covid-19. In the first half year of 2020, the public deficit amounted to 9.4% while public debt rose to 82.6%. The outlook for the second half of 2020 is not much better and an increase of public debt is expected.

Statistics Austria head Tobias Thomas reveals an expected high public deficit and increase of public debt caused by Covid-19. / Picture: © Statistik Austria/Ranger–Marton

In the first half of 2020 (H1 2020), Austria recorded a public deficit of 9.4% of gross domestic product (GDP) or compared to H1 2019, this represents a deterioration of EUR 17.3 billion according to Statistics Austria (H1 2019: government surplus of EUR 0.5 billion or 0.2% of GDP). …