As is well known, the catastrophic budget position of Austria assumes threatening dimensions. The federal deficit is estimated for almost 3.5 % of gross domestic product (GDP) this year. According to the last WiFo forecast, economic growth is -0.3 %. The federal government urgently needs to initiate sharp renovation steps. A savings package of 6.4 billion euros is planned for today, and it should already be 8.7 billion euros for 2026.
Austria is currently still threatening a so-called EU deficit procedure. This is initiated if an EU member state does not comply with the mandatory fiscal political rules, for example if the budget deficit is over three percent of GDP. Such a procedure existed for Austria from 2009 to 2014.
Norbert Ranftler, Gf. State chairman of the Freedom Economy in Salzburg, states: “In no other EU country, the economy has recently shrunk and broken in as much as in Austria. Our country loses prosperity-there is a risk of a lost decade. The ÖVP was particularly important in this catastrophic development. As our mother party FPÖ correctly, it is correct in the state finances Real black hole.
Such a procedure would have serious negative effects on the business location of Austria: further loss of trust in the location, fewer investments in infrastructure and innovation, massive inhibition of state demand, less orders for companies, a compulsion to further austerity measures and thus considerable damage to our country. It threatens to deter potential companies and investors – up to the capital deduction from Austria. We are on the edge of an economic depression!
“The Federal Government must therefore take all -powering measures: reduction in corporate taxes, reduction of bureaucracy – in short: a real unleashing of the economy! Otherwise we threaten to go under in an economic whirlpool,” concluded Ranftler.
OTS original text press release with the exclusive in terms of content of the sender – www.ots.at | RFW