AT: Cautious budget consolidation

Yesterday, Finance Minister Marterbauer presented the Austrian federal government's draft budget. As part of the double budget presented, the government is planning a consolidation of EUR 6.4bn in 2025 and EUR 8.7bn in 2026, with the cancellation of the climate bonus making the biggest contribution this year. In addition, subsidies will be redimensioned and tax measures implemented. The consolidation path is to be maintained beyond 2026 in order to achieve the Maastricht criterion of a maximum of -3% of GDP in 2028. Deficit proceedings by the EU Commission seem unavoidable in any case.