The Federal government attained the goal of budget consolidation in 1997. The net deficit declined to 2.6 percent of GDP. The other territorial authorities have also exceeded their goals. Thus, the general government deficit totaled only 2.5 percent of GDP, and Austria has easily met the budget...

Austria's budget policy is focused on the goal of achieving a balanced household for the general government by the year 2002. This goal includes the states (Länder) and communities and thus requires intense co-operation between territorial authorities. The reasons for a balanced household are,...