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RH Warns: Alarming Increase in Public Debt
Politics ♦
Published: September 15, 2011; 19:31 ♦ (Vindobona)
Austrian government debt is growing rapidly. From 2006 to 2010, government expenditures went up by 18.2%.
RH Warns: Alarming Increase in Public Debt / Picture: © Der Rechnungshof
Austrian payments for pensions and interest will account for 40% of total government expenditures by the year 2015, compared to a share of only 33.9% in 2010. This is the result of the federal financial statements 2010 which were published on Wednesday by the Court of Auditors (Rechnungshof, RH).
In absolute terms, pension and interest payments totaled € 22.8bn last year. As…
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