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Budget deficit to remain high in 2023 as a result of new support measures

Office of the Fiscal Advisory Council expects general government deficits of 2.3% and 1.1% of GDP in 2023 and 2024 according to the latest flash estimate. Decline in debt ratio exclusively due to high nominal GDP growth.more

Corporate energy cost subsidy II entails high budgetary burden and offers potential for improvement in the design of measures

Office of the Fiscal Advisory Council calculates high budgetary costs of EUR 7.0 to 8.0 billion for the corporate energy cost subsidy II presented in the Council of Ministers at the end of December 2022more

To open up fiscal space in the medium term, expansionary fiscal policy needs to be tightened again while considering the business cycle

From the Fiscal Advisory Council point of view the federal government should present a holistic concept for the long-term stabilization of public finances, which needs to include ways to fund crisis measures. more

Distributional effects of Inflation-Relief Packages of the federal government in 2022

According to an analysis of the Office of the Fiscal Advisory Council the majority of households receive transfers amounting to more than 1.000 Euro, for the highest 10% of households (in terms of disposable income) the amount is lower on average. A means-tested lump-sum transfer to low-income households would lead to significantly lower budgetary costs.more

Budgetary impact of 3ʳᵈ anti-inflation package significantly restrict budgetary leeway and complicate compliance with fiscal rules

According to an analysis of the Office of the Fiscal Council, the package of measures and the inflation trend will result in a cumulative additional budgetary burden of 15.1 billion euros by 2026.more

NEWS

Press information of the FISK-office (DE)

of April 14, 2023

Budgetary outlook 2023 and 2024 – A quick assessment of the Office of the Austrian Fiscal Advisory Council

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Press information of the FISK-office (DE)

of March 7, 2023

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Press information (DE)

of December 12, 2022

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General government gross debt – Austria

General government balance – Austria

EU fiscal rules applied for Austria: Maastricht criteria

EU fiscal rules applied for Austria: structural requirements

**EU fiscal rules**

		EC estimate		FISK estimate		MoF estimate
	2021	2022	2023	2022	2023	2022	2023

Maastricht deficit of no more than 3% of GDP	⭙	⭙	✓	⭙	✓	⭙	✓
MTO of no more than −0.5% of GDP	general escape clause
Government expenditure growth	general escape clause
Reduction of debt ratio	✓	✓	✓	✓	✓	✓	✓

Legend: ✓ … compliant with fiscal rule and significant deviation; ⭙ … not compliant with fiscal rule, ⭙ …not compliant with fiscal rule and significant deviation EC … European Commission; FISK … Fiscal Advisory Council; MoF … Ministry of Finance
Source: Fiscal Advisory Council fiscal forecast (autumn 2022).

Organization and members

The Fiscal Advisory Council is an independent body responsible for monitoring the fiscal discipline of government entities in Austria. It consists of 15 members that are mandated to act independently. Its Office is attached to the Oesterreichische Nationalbank (OeNB).

Tasks of the Fiscal Advisory Council

The Fiscal Advisory Council analyzes Austria’s public finances, monitors compliance with national and EU fiscal rules and contributes to the public debate.

Press materials

Here you can find all press materials published by the Fiscal Advisory Council. You may also subscribe to a newsletter to receive press materials.

Budget deficit to remain high in 2023 as a result of new support measures

Corporate energy cost subsidy II entails high budgetary burden and offers potential for improvement in the design of measures

To open up fiscal space in the medium term, expansionary fiscal policy needs to be tightened again while considering the business cycle

Distributional effects of Inflation-Relief Packages of the federal government in 2022

Budgetary impact of 3ʳᵈ anti-inflation package significantly restrict budgetary leeway and complicate compliance with fiscal rules

NEWS

Press information of the FISK-office (DE)

Press information of the FISK-office (DE)

Press information (DE)

Organization and members

Tasks of the Fiscal Advisory Council

Press materials

Publications