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Austria's Government Under New Challenge: Are New Elections Coming?
With his statements, Thomas Schmid, ex-Secretary General at the Ministry of Finance, has incriminated many former and current top politicians of the Austrian People's Party (ÖVP), some of them heavily. Although much was already relatively well known in the investigations by the Public Prosecutor's Office for Economic Affairs and Corruption (WKSta) triggered by the Ibiza affair, Schmid has provided a great deal of new material in the cases surrounding appointments to posts, tax and advertising deals in the Austrian government. In Austrian politics, a new crisis is now brewing for the ÖVP-Green coalition government.
October 20, 2022
Statistics Austria: Highest Public Deficit Since Records Began
Due to the Covid-19 pandemic, Austria has recorded its highest public deficit since the start of the record in 1954. The deficit in 2020 amounted to 8.9 percent of the GDP (EUR 33.2 billion), which was caused by a sharp increases in government spending and a decrease in government revenue.
April 1, 2021
Public Deficit Amounts to 9.4%, Public Debt to 82.6% of GDP in First Half Year of 2020
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.
September 30, 2020
Austrian Government Says It is Prepared to Pump Virtually Unlimited Money into Economy
The Federal Government announced today that an aid package of up to 38 billion euros is being prepared to deal with the consequences of the coronavirus.
March 18, 2020
Coronavirus Crisis in Austria: Four Billion Euro Package for the Economy
The Austrian government today cancelled the budgetary "zero deficit" for 2020 and announced the provision of four billion euros for immediate measures.
March 14, 2020
Austria: Second Recession Ahead
The double-dip scenario becomes more and more likely. In the third quarter, Austria´s GDP was down for the first time since 2009.
November 15, 2012
Slovak Deficit to Reach 2.9% of GDP in 2013
The Slovak government approved the 2013 state budget. The deficit will be reduced step by step in the next years.
October 12, 2012
Slovenia to Sharpen Austerity Measures
The Slovenian centre-right government announces new austerity cuts. The budget deficit should be lowered to 3.0% of GDP.
October 5, 2012
Slovakia´s Growth Still Driven by Exports
The industrial sector still shows dynamics. However, government spending and consumption is falling further.
October 5, 2012