# Austria plans to bring budget deficit within 3% of GDP next year
Author:  Pal Sinha,Barnali
Author URL: https://economystandard.com/author/pal-sinha-barnali/
Published: 2022-10-12
Category: Headlines
Category URL: https://economystandard.com/category/headlines/
Meta Title: Austria aims to reduce budget deficit to EU's 3% limit by 2023
Meta Description: Learn about Austria's plan to reduce budget deficit to 3% of GDP by 2023, as Finance Minister Magnus Brunner outlines the path to fiscal stability.
URL: https://economystandard.com/austria-plans-to-bring-budget-deficit-within-3-of-gdp-next-year10115-2/

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VIENNA (Reuters) – Austria plans to bring its budget deficit within the European Union’s limit of 3% of gross domestic product in 2023, a finance ministry presentation published shortly before Finance Minister Magnus Brunner’s budget speech said on Wednesday.

The presentation showed the budget deficit shrinking from 5.9% of GDP last year to 3.5% this year and 2.9% next year. It also showed the debt-to-GDP ratio falling from 82.3% in 2021 to 78.3% this year and 76.7% in 2023.

(Reporting by Francois Murphy)


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