News Austria Finance: Austria says Ukraine war is swelling deficit back to EU's 3% limit
The Ukraine war's negative impact on economic growth and associated costs such as reducing dependence on Russian natural gas have forced Austria to increase its budget deficit and debt forecasts for this year, the Finance Ministry said on Wednesday. Austria, as did many of its peers, spent lavishly on measures to cushion the blow of the coronavirus pandemic and had expected a stronger economic recovery this year to help it bring its budget deficit back within the European Union's limit of 3% of gross domestic product (GDP) for the first time since 2019. Economic researcher WIFO, which provides the forecasts on which the government bases its budget, last month cut its GDP growth outlook for this year to 3.9%, almost a percentage point less than the 4.8% it expected when the 2022 budget was announced last October.
News Austria Finance: Lindner One of Eight New Faces at EU Finance Chief Meetings
Germany’s Christian Lindner may be the biggest name to make his debut at a gathering of euro-area finance ministers in Brussels on Monday, but he’s far from alone: His newly appointed counterparts ...
News Austria Finance: Israeli finance minister tests positive for coronavirus
Israeli Finance Minister Avigdor Lieberman speaks to the media during the weekly cabinet meeting at the prime minister's office in Jerusalem August 1, 2021. Abir Sultan/Pool via REUTERS ...
