Badelt: "Budgetdefizit Zu Hoch, Werte Des Finanzministeriums Falsch"

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Post on Nov 05, 2024

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Badelt: "Budget Deficit Too High, Finance Ministry Values Wrong"

Austria's Finance Minister Gernot Blümel has been criticized for his handling of the budget deficit, with the leading economist and former Finance Minister, Hannes Androsch, voicing his concerns.

Androsch, in an interview with the Austrian news outlet "Der Standard," stated that the projected budget deficit for 2023 is "too high" and that the Finance Ministry's economic projections are "not realistic." He claims that the ministry is overestimating growth and underestimating inflation, which will ultimately lead to a larger deficit than anticipated.

"The ministry's economic projections are not realistic," Androsch said. "They are overestimating growth and underestimating inflation. This will lead to a larger deficit than the ministry is currently projecting."

Androsch's comments come at a time of growing concern about Austria's public finances. The country's debt levels have been rising steadily in recent years, and the COVID-19 pandemic has further exacerbated the situation. The government has implemented a number of measures to stimulate the economy, but these have come at a cost.

The Finance Ministry has defended its economic projections, arguing that they are based on the best available data. However, Androsch remains unconvinced. He argues that the ministry's projections are overly optimistic and that the government needs to take a more realistic approach to managing the country's finances.

"The government needs to take a more realistic approach to managing the country's finances," Androsch said. "We cannot continue to spend more than we take in. We need to get our finances in order."

Androsch's criticism of the Finance Ministry is likely to fuel further debate about Austria's economic future. The country faces a number of challenges, including an aging population and rising healthcare costs. It remains to be seen how the government will address these challenges and whether it will be able to reduce the budget deficit in the coming years.

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