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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