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MNI BRIEF: Aid Plan Effect On Austrian Budget Deficit Unclear

(MNI) London
(MNI) London

Austria 2022 deficit forecast may be revised but further analysis of inflation, spending measures needed, officials tell MNI.

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Austria has yet to decide whether to adjust its 2022 funding target following the announcement of a raft of measures to cushion the effects of increased energy costs, Treasury officials told MNI, with analysts exploring the extent to which additional costs can be offset by rising tax revenues.

April’s forecast budget deficit of EUR 19.1 billion has not yet been updated to account for the announcement in mid-June of a inflation relief package of around EUR 6 billion, Markus Stix, Managing Director of the Austrian Treasury said. Stix said the budget deficit forecasts needed updating and analysing, but noted that “higher inflation will also lead to increased tax revenues."

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Austria has yet to decide whether to adjust its 2022 funding target following the announcement of a raft of measures to cushion the effects of increased energy costs, Treasury officials told MNI, with analysts exploring the extent to which additional costs can be offset by rising tax revenues.

April’s forecast budget deficit of EUR 19.1 billion has not yet been updated to account for the announcement in mid-June of a inflation relief package of around EUR 6 billion, Markus Stix, Managing Director of the Austrian Treasury said. Stix said the budget deficit forecasts needed updating and analysing, but noted that “higher inflation will also lead to increased tax revenues."

Keep reading...Show less