Austria is heading for a zero deficit again in 2025
According to Finance Minister Gernot Blümel, a regular zero deficit is possible again in Austria in 2025. The strong economic upswing creates the prerequisites for this, said Blümel on Wednesday in his budget speech in front of parliament.
In the coming years, the debt ratio should also fall from around 83 percent to just over 70 percent of gross domestic product. This would have reached the level before the Corona crisis.
“That saves taxpayers money and gives us leeway that we can use to implement the eco-social tax reform,” said Blümel. To overcome the economic consequences of the Corona crisis, 200 aid measures have been initiated. 40 euros in aid are currently billions or promised.
It is legitimate to go into debt in difficult economic times in order to help, according to Blümel. “Getting into debt permanently in growth phases is a convenience at the expense of taxpayers.” According to the minister, next year there will be more money for climate protection, for promoting German courses for immigrants, for projects to curb better violence against women and for equipping the police.
The opposition criticized the fact that the tax burden remains extremely high. The cold progression, in which the taxpayers automatically have to be burdened more and more, must be abolished, said the Neos MP Gerald Loacker. What the country needs is “comprehensive relief, deregulation and de-bureaucratisation”.
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