Between Consolidation and Growth: Federal Financial Framework 2013-2016, "Consolidation Package II" and Stability Programme
The government debt ratio in Austria will rise above 74 percent of GDP in 2012. The quantifiable costs of the financial market crisis and the global recession account for nearly 7¾ percentage points of this ratio, further discretionary measures and statistical revisions for the last few years add nearly 6 percentage points. The "consolidation package" adopted in spring 2012 is to ensure a balanced general government budget (according to the Maastricht definition) by 2016. In addition, it is intended to reduce the structural deficit to 0.4 percent of GDP and the debt ratio to 70.6 percent of GDP.
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Volume (Year): 17 (2012)
Issue (Month): 3 (September)
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- Margit Schratzenstaller, 2011. "Draft Federal Budget for 2011 Takes First Steps Towards Consolidation," Austrian Economic Quarterly, WIFO, vol. 16(1), pages 35-56, March.
- Hans Pitlik & Margit Schratzenstaller, 2009. "Financial Market Crisis and Public Budgets," WIFO Monatsberichte (monthly reports), WIFO, vol. 82(12), pages 961-966, December.
- Douglas Sutherland & Peter Hoeller & Rossana Merola, 2012. "Fiscal Consolidation: How Much, How Fast and by What Means?," OECD Economic Policy Papers 1, OECD Publishing.
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