Between Consolidation and Growth. Federal Financial Framework 2013 to 2016, "Consolidation Package II" and Stability Programme

The financial market and economic crisis has put severe strain on government budgets also in Austria. The costs of the crisis, to the extent that they can be quantified (support for banks, cyclical stimulus measures and contributions to the euro-area crisis management), have shifted the debt ratio up by almost 7¾ percentage points by 2012. Additional discretionary measures (anti-inflation package and parliamentary decisions of September 2008) as well as statistical revisions push the debt ratio up by a further 9 percentage points to a level slightly above 74 percent of GDP in 2012.