The Federal Government will continue the fiscal consolidation strategy in 1993. According to the budget proposal the net deficit will be reduced to a ratio of 2.7 percent of GDP. The cyclical effect of the budget is deemed to be neutral. The primary surplus will rise from AS 4 billion (1992) to...

The Federal Government budget drafts for 1996 and 1997 show a clear commitment to fiscal consolidation. The central government deficit is to be reduced to around ATS 68 billion, equivalent to 2.7 percent of GDP. Thereby, a crucial condition for Austria's participation in the future European...