AT: Deficit in 2024 much higher than expected
Short Note Major Markets , 31. März
Today, Statistics Austria presented the public finances of the Republic of Austria for 2024. With a budget deficit of -4.7% of GDP, Austria clearly failed to meet the Maastricht criterion of a 3% deficit. According to Statistics Austria, the largest part of the increase can be attributed to high wage agreements in the public sector, the adjustment of pensions and the valorization of social benefits. It now seems almost inevitable that the EU Commission will initiate an excessive deficit procedure.