The Draft Federal Budget 2013: Consolidation Path Subject to Uncertainties

Margit Schratzenstaller

Austrian Economic Quarterly, 2013, vol. 18, issue 1, 49-64

Abstract: The draft federal budget for 2013 needs to reconcile a substantial move towards fiscal consolidation with a reinforcement of spending in areas crucial for long-term growth of income and employment. The government debt ratio is expected to peak at 75.4 percent of GDP in 2013 and decline subsequently to below 71 percent by 2016. The government deficit (Maastricht definition) is to be brought below 3 percent of GDP in 2013 in compliance with the recommendation of the Excessive Deficit Procedure for Austria. Public support measures to banks in distress have so far boosted the deficit by a total € 4 billion; an additional € 800 million are provided for in the budget for 2013.

Date: 2013
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