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Austria plans to bring budget deficit within 3% of GDP next year

Published by Uma Rajagopal

Posted on October 12, 2022

1 min read

· Last updated: February 3, 2026

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Aerial view of Vienna showcasing economic recovery efforts post-lockdown - Global Banking & Finance Review
The image depicts an aerial view of Vienna, reflecting the city's economic recovery as Austria aims to reduce its budget deficit to below 3% of GDP in 2023, highlighting financial stability.
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VIENNA (Reuters) – Austria plans to bring its budget deficit within the European Union’s limit of 3% of gross domestic product in 2023, a finance ministry presentation published shortly before Finance Minister Magnus Brunner’s budget speech said on Wednesday. The presentation showed the budget deficit shrinking from 5.9% of GDP last year to 3.5% this […]

VIENNA (Reuters) – Austria plans to bring its budget deficit within the European Union’s limit of 3% of gross domestic product in 2023, a finance ministry presentation published shortly before Finance Minister Magnus Brunner’s budget speech said on Wednesday.

The presentation showed the budget deficit shrinking from 5.9% of GDP last year to 3.5% this year and 2.9% next year. It also showed the debt-to-GDP ratio falling from 82.3% in 2021 to 78.3% this year and 76.7% in 2023.

(Reporting by Francois Murphy)

Frequently Asked Questions

What is GDP?
Gross Domestic Product (GDP) measures the total economic output of a country. It represents the monetary value of all finished goods and services produced within a country's borders in a specific time period.
What is the debt-to-GDP ratio?
The debt-to-GDP ratio is a measure of a country's public debt in relation to its Gross Domestic Product. It indicates the country's ability to pay back its debt and is expressed as a percentage.

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