world-news

Austrian 2012 budget deficit lower than expected

Vienna, March 29 : Austria's budget deficit for 2012 has proven significantly lower than the government expected, Statistics Austria said.


Standing at 2.5 percent of gross domestic product (GDP), or 7.7 billion euros (USD 9.87 billion), the deficit ended up below the finance ministry's Autumn forecast of 3.1 percent of the GDP and also puts it below the EU Stability and Growth Pact (SGP) target of 3 percent, reported Xinhua.

The nation's leading politicians praised the outcome, with Chancellor Werner Faymann saying the surprisingly low figure showed Austria was on the right track.

Finance Minister Maria Fekter thanked states and local councils for their "impressive budget discipline", and also the Austrian people.

The news was not all positive, however, with Austrian sovereign debt climbing to a new high of 227.4 billion euros or 73.4 percent of GDP, well over the SGP target of 60 percent, though it too was below the previous prognosis, which was 74.6 percent.

--IANS (Posted on 29-03-2013)

world-news headlines

UN urges UK to address violence against women

Nigeria: UN seeks immediate release of abducted school girls

UNAIDS names Brazilian footballer as Goodwill Ambassador

Argentina violated rights of prisoner with disabilities: UN

UNSC marks 20th anniversary of Rwandan genocide

UN seeks emergency funds to aid civilians fleeing CAR

South Sudan: UN concerned over swelling number of refugees

Ban pushes for 2015 global agreement on disaster risk

DR Congo: UN condemns attack on Virunga National Park director

Unrest in eastern Ukraine risks entire country: UN

South Korea: 4 killed in ferry sinking

New Zealand to expand military links with China

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014

Comments

Your e-mail:


Your Full Name:


Type verification image:
verification image, type it in the box

Message:

Back to Top