The EU is serious: Austria is officially sent to the shortage procedure. With 4.5 percent, the state’s fault is considerably higher than the permitted 3 percent of gross domestic product. Saving is now the order of the day. But where exactly should our government escape from the belt?
Finance Minister Markus Marterbauer (Spö) is calm – the budget consolidation is nevertheless urgently needed, regardless of the requirements of Brüssel. The first decisions have already been made as part of the double budget and the consolidation plans must be completed in 2028. Nevertheless, a lot remains open. What would you advise the federal government – where should you first start with the red pencil?
Which areas should save your opinion – and where would there be real reform needs? Would structural reforms such as reducing bureaucracy or an administrative reform are a feasible path of debt trap? How honest do you feel the previous course of the federal government? And: do you really have to save – or instead invest in growth and innovation to achieve a higher income in the long term?
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Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
