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Federal Budget 2003-04: Postponing the Goal of a Balanced Budget

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Author Info

  • Gerhard Lehner

    (WIFO)

  • Margit Schratzenstaller

    (WIFO)

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    Abstract

    A stagnating economy and a marked rise in unemployment prevented the attainment of a balanced public budget in 2002. Because of the persistent cyclical weakness and of the tax reform envisaged for 2004-05, a balanced budget position will be achieved only after 2007. In spite of a noticeable increase in the debt ratio, which is the result of statistical revisions, Austria's budgetary position compares favourably with the EU average. To achieve medium-term fiscal consolidation the government aims at reducing the revenue and expenditure ratios. Starting with 2004 there will be a decline in the share of transfer expenditures. Tax revenues will gain in importance within total federal revenues; a shift from direct taxes to indirect taxes can be observed.

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    Bibliographic Info

    Article provided by WIFO in its journal Quarterly.

    Volume (Year): 8 (2003)
    Issue (Month): 3 (October)
    Pages: 102-117

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    Handle: RePEc:wfo:wquart:y:2003:i:3:p:102-117

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    Related research

    Keywords: budget policy; public budget; public revenues; public expenditure; taxes; public debt; Austria;

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