13 January 2020, Vienna Budget surplus significantly higher than expected Blümel: “A surplus of 1.4 billion euros is a good basis to further relieve people in Austria”

 “We have ended the borrowing policy, achieved a surplus, and thus created scope for further relief and investments into the future,” said Finance Minister Blümel, pleased with the provisional administrative budget surplus of € 1.4 bn.

Austria has not only managed, for the first time since 1954, to achieve an administrative surplus – it is even much higher than predicted. The original budget was € 514 million. At € 1.4 billion, the figure is now considerably higher. Incoming payments of € 80.3 bn are offset by outgoing payments totalling € 78.9 bn. “This is a good basis for reducing the tax burden further. That is exactly what we are about to do. People in Austria will have more to spend in future,” said Blümel.

Chancellor Sebastian Kurz is also satisfied with the result. He ascribes the increase to the strict budget course and the good labour market situation: “You see that you can have it both ways: Saving and relieving are not contradictory. The strict budget course has opened up more opportunities for us. Our course therefore remains clear: Relieving working people and not incurring new debts at the expense of the next generation.