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...

In 1994 the federal budget stimulated the cyclical upturn. The main factors shaping the budget proposal for 1995 are the accession to the EU, which increases the net deficit by some Sch 27.5 billion, and the austerity package, which reduces the shortfall by about Sch 17 to 18 billion. The budget...