Austria's budget in the crisis: government has to act before it is too late!

Austria's budget in the crisis: government has to act before it is too late!

Österreich - Austria is on the financial abyss! The warnings from the fiscal council are unmistakable: if no budget is passed for 2025, the country is threatened with a deficit procedure of the EU. Fiscal council president Christoph Badelt criticized the delays in the government negotiations between the FPÖ and the ÖVP, which led to a dramatic increase in interest on Austrian government bonds. Badelt found that the chances of an EU deficit procedure with every week that passes without savings measures. "I believe that we have to go into the EU deficit procedure," he said when the budget agreement between the parties faltered, such as The press reported .

The situation is critical! In any case, according to the constitution, budgets must be decided within ten weeks before the new year, which the turquoise-green government should have observed. Instead, the republic could soon be insolvent, since only half of the debts of the previous year may be taken up and a large bond is due in April. Badelt called for a legal provisional to be decided in February that enables debt admission to avert impending insolvency.

long -term challenges