The Austrian Ministry of Finance statement expected an increase in the public debt ratio by 1.5 percent to 79.3 percent in the current year compared to last year 2023, which recorded 77.8 percent, which will lead to exceeding the limit of the Maastricht Treaty, which sets the value of the budget deficit at a rate not exceeding 3 percent of the gross domestic product. .
In a press statement, Christoph Badelt, head of the Financial Advisory Council, which is responsible for providing economic advice to the Austrian government, described the new forecasts as very optimistic and expected the real deficit to be “much higher.”
It is expected that the deficit will exceed Austria More than 3.5 percent of GDP, compared to expectations last March of 2.9 percent.