Austria breathes on: EU Commission does not use deficit procedures!

Austria breathes on: EU Commission does not use deficit procedures!

Österreich, Land - Austria has successfully averted an impending EU deficit procedure, as the European Commission confirmed in a letter to Finance Minister Gunter Mayr. This positive decision came after a decisive meeting between Mayr and the EU Commissioner Valdis Dombrovski, in which the measures to reduce the budget deficit for 2025 were discussed. According to the Commission, the measures submitted by the Austrian government could help reduce the deficit to less than 3 % of gross domestic product (GDP). This means that no excessive deficit procedure against Austria is initiated, which is a significant relief for the financial markets, as also from bmf.gv.at

budget measures ensure relaxation

The European Commission had admitted Austria to present a package of measures by mid -January, which contributes to avoiding the deficit procedure. A savings volume of around 6.3 billion euros in 2025 should enable this. The critical exchange between the black and blue negotiation teams and the Commission has proven to be successful because the measures help to protect the Maastricht boundaries. Furthermore, some experts not only supported a strict austerity course, but also the initiation of a deficit procedure, which also fueled the political discussion within the Austrian parties. Nevertheless, the insight to maintain the budget sovereignty over the differences, as