Vienna, 30 August 2012 Fekter: “Budget targets will be met” “Our domestic fiscal position is very strong now”

Austrian Finance Minister Dr. Maria Fekter is optimistic about the government’s ability to meet its budget targets for this year. “The budget calls for new government borrowing of 3.0% of GDP, and that is very realistic at present”, the Finance Minister stated. 

Although the Greece haircut and the aid package for the distressed Volksbank Group are drags on the Austrian state budget, Dr Fekter is nevertheless optimistic that budget targets will be met, thanks to lower interest payments on the financial markets and higher levels of tax revenues. “Because the economy is currently showing signs of improvement and we are not expected any serious downturns, we are optimistic as far as our tax revenues are concerned ”, Dr Fekter said. 

“We have charted a very clear course that is orientated to EU requirements. If we continue to rigorously pursue this path, we will achieve all of our targets, which will enable us to guarantee stability, prosperity and security over the long term”, Finance Minister Dr Fekter affirmed.