Economic news
Austria plans to bring budget deficit within 3% of GDP next year
2022.10.12 04:28
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© Reuters. FILE PHOTO: People walk along a shopping street after the fourth full national coronavirus disease (COVID-19) lockdown lifted, in Vienna, Austria, December 13, 2021. REUTERS/Lisi Niesner
VIENNA (Reuters) – Austria plans to bring its budget deficit within the European Union’s limit of 3% of gross domestic product in 2023, a finance ministry presentation published shortly before Finance Minister Magnus Brunner’s budget speech said on Wednesday.
The presentation showed the budget deficit shrinking from 5.9% of GDP last year to 3.5% this year and 2.9% next year. It also showed the debt-to-GDP ratio falling from 82.3% in 2021 to 78.3% this year and 76.7% in 2023.
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