Austria said a sharper economic downturn and spending related to recent floods are likely to push its budget deficit past European Union limits, adding to urgency for belt-tightening following federal elections.
The budget deficit is expected to widen to 3.3% of estimated gross domestic product this year from 2.7% in 2023, the finance ministry in Vienna said by email. That compares with a shortfall of 2.9% of GDP projected for this year in March.
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Publish date : 2024-10-03 07:35:00
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