Austria Sees EU Budget Reprimand Unavoidable as Deficit Spirals

Despite the high level of government debt last year, the EUR 6.4 billion is expected to be enough to meet the EU's austerity targets in an EDP.

The general government deficit rose to 4.7 per cent of GDP in the previous year. Statistics Austria announced this in a press conference on Monday morning. Thus, the Maastricht limit of three per cent was clearly missed, an EU deficit procedure threatened

Austria Sees EU Budget Reprimand Unavoidable as Deficit Spirals

Austria won’t be able to avoid being reprimanded by the European Union for running an outsized deficit as last year’s economic developments were worse than feared, according to Finance Minister Markus Marterbauer.

Austria overspends by billions as pensions, wages and welfare drive up costs

Austria’s government spent more than it earned in 2024 - and it shows. The country’s public deficit reached 4.7 percent of its GDP, well above the EU’s 3 percent Maastricht threshold.

LH Mattle sees a challenging situation – Land remains a strong partner for the Tyrolean municipalitiesAmong other things, 3.42 million for Tirol's fire brigadesPromoting an energy transition: First distribution from the energy fundThe country Tyrol and its municipalities sometimes have the lowest level of debt in Austria. Nevertheless, the financial leeway for the country Tyrol and the 277 Tyrolean municipalities is currently severely limited du…

Austria's financial situation is getting worse. In view of the budget deficit of 4.7 per cent and the debt ratio of 82 per cent, an EU deficit procedure is threatening. "All countries have to examine their budgets," demands Salzburg's head of state Wilfried Haslauer from his counterparts.