Statement on the draft budget for 2023
Prof. Dr. Monika Köppl-Turyna
Director
In mid-October, Federal Finance Minister Magnus Brunner presented the draft budget for the coming year 2023. The expert hearing will take place in parliament today. The Federal Finance Act presented by the government provides for incoming payments of EUR 98.1 billion and outgoing payments of EUR 115.1 billion for the coming year. According to the Maastricht definition, the federal deficit should amount to 3.1% of GDP. For the state as a whole, i.e. including the federal states, municipalities and social security funds, a deficit of 2.9% of GDP is expected. The structural deficit is also expected to amount to 2.9%. The draft budget is based on the assumption that the economy will grow by 0.2% in 2023 despite the current crisis. According to the draft budget, the overall government debt ratio is set to fall slightly to 76.7% of GDP at the end of 2023. By the end of the term of the new federal financial framework in 2026, the debt ratio is expected to fall to 72.5% despite a significant increase in interest payments.
In a statement addressed to Parliament, EcoAustria Director Monika Köppl-Turyna explains what the Institute considers to be the most important recommendations for action for the coming year and beyond.
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