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Markus Marterbauer
Austria's Debt Relief: A Focus on Billions
Since the turn of the millennium, Austria has waived debts amounting to around €3.4 billion owed to other countries. This information is based on a recent parliamentary response from the Ministry of Finance, which has drawn particular criticism from the Freedom Party of Austria (FPÖ).
July 16, 2025
EU Initiates Deficit Procedure Against Austria: Finance Minister Marterbauer Remains Confident
The European Union has officially initiated an excessive deficit procedure against Austria. This step, based on a recommendation by the European Commission, was decided at a meeting of EU finance ministers in Brussels. The reason for the procedure is that Austria's budget deficit, at 4.7 percent of GDP last year and a planned 4.5 percent this year, is significantly above the 3 percent limit set in the Maastricht criteria.
July 10, 2025
EU Commission Recommends Deficit Procedure Against Austria
The European Commission has formally recommended initiating EU deficit proceedings against Austria. This step, which is to be finalized at a meeting of the Council of Economic and Finance Ministers in Brussels on July 8, follows Austria's exceeding the deficit limit set out in the Maastricht criteria.
June 25, 2025
India's Finance Minister Visits Vienna to Intensify Trade and Economic Partnership
The visit of Indian Finance Minister Nirmala Sitharaman to Vienna marks a significant step towards deepening bilateral relations between Austria and India. The talks with Foreign Minister Beate Meinl-Reisinger and Finance Minister Markus Marterbauer focused on strengthening economic cooperation, particularly in the areas of digitalization, green technologies, and the exchange of skilled workers.
April 15, 2025
Taxes Rising, Deficit Growing: Austria Faces EU Criminal Proceedings
Austria is threatened with EU deficit proceedings - at 4.7 percent of GDP, the budget deficit is well above the Maastricht limit. To counteract this, the federal government is taking the first noticeable steps - above all, tax increases on tobacco, betting, e-vehicles, and court fees. However, experts warn that the road to budget consolidation is rocky and politically explosive.
April 1, 2025
Former Chancellor Karl Nehammer Nominated for Top Job at EU Bank
Finance Minister Markus Marterbauer (SPÖ) has nominated former Federal Chancellor and ex-ÖVP leader Karl Nehammer for a position on the Board of Directors of the European Investment Bank (EIB).
April 1, 2025
Austria's Budget Crisis: Between Austerity Measures and Deficit Procedures
The Austrian government is facing one of the biggest financial challenges in recent years: the budget deficit, originally estimated at 6.4 billion euros, has almost doubled according to current forecasts and could reach up to twelve billion euros. This dramatic development forces the coalition of ÖVP, SPÖ, and NEOS to rethink their austerity plans and possibly face an EU deficit procedure.
March 31, 2025
Austria Threatened by Recession: Finance Minister Marterbauer Warns of Difficult Year Ahead
Finance Minister Markus Marterbauer (SPÖ) made a grim forecast for the Austrian economy at a meeting of the EU Economic and Financial Affairs Council (ECOFIN) in Brussels. According to Marterbauer, the country must expect a recession in 2025. This could have far-reaching consequences for the budget and the government's ability to act financially. Despite this negative development, the federal government is sticking to its goal of avoiding an EU deficit procedure.
March 12, 2025
A New Chapter for Austria: The Faces of the Federal Government 2025
The inauguration of the new federal government marks the beginning of a new era in Austrian politics. For the first time, a three-party coalition of the ÖVP, SPÖ, and NEOS, led by Federal Chancellor Christian Stocker (ÖVP), is in power. He is joined by Vice-Chancellor Andreas Babler (SPÖ) and Foreign Minister Beate Meinl-Reisinger (NEOS). The new government has 21 members in total. But who are the people who will steer the country's destiny in the coming years?
March 3, 2025
Austria's New Federal Government Sworn In: A Coalition of Compromises
After a historic five-month struggle to form a government, Chancellor Christian Stocker (ÖVP), Vice-Chancellor Andreas Babler (SPÖ), and Foreign Minister Beate Meinl-Reisinger (NEOS) were sworn in together with their ministerial teams by Federal President Alexander Van der Bellen in Vienna's Hofburg Palace. The coalition, which seems unusual at first glance, promises a pragmatic approach, but key points of contention have been postponed for the time being.
March 3, 2025
Austria's Industry and Economy under Pressure: Economic Experts Discuss Solutions
The situation in Austrian industry has deteriorated continuously since mid-2021. The Federation of Austrian Industries (IV) is now issuing an urgent warning about the consequences of this development. “Industry is in a bleak situation,” explained IV chief economist Christian Helmenstein. There is no sign of a recovery shortly, which is seriously jeopardizing the competitiveness of the location and the prosperity of the country.
February 2, 2025
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