© June O/Unsplash
01.02.2021
Federal Budget and Public Debt During the COVID-19 Crisis
Budget Analysis in View of the Federal Aid Measures
In a recent article of the WIFO-Monatsberichte (monthly reports) by Simon Loretz, Hans Pitlik and Margit Schratzenstaller examine fiscal measures against the COVID-19 crisis in light of the federal budget 2021 and Medium-term Financial Framework 2021 to 2024.
Uncertainties about macroeconomic and epidemiologic developments are shaping the budget process for 2021 to 2024. To mitigate the economic and social consequences of the COVID-19 crisis, the federal government implemented a number of measures, the cost of which contributed to a record deficit in 2020 and will continue to lead to a sharp increase in the general government debt ratio to up to 85 percent of GDP (2022). In the long term, the high debt burden should be reduced; however, the persistently low level of interest rates favors a reduced pace of fiscal consolidation and also allows partial reliance on "growing out" of debt.
Publications
WIFO-Monatsberichte
28.01.2021
Finalization: January 2021
Specialist publication: WIFO-Monatsberichte
Please contact
Macroeconomics and Public Finance
Macroeconomics and Public Finance
Macroeconomics and Public Finance
Further news
Examination of the Extent of Revisions for the Period from 2020 to 2024
09.07.2025
Mid-term Evaluation of the Federal Government's RTI Strategy 2030
07.07.2025
Economic Development in the Austrian Federal States in 2024
03.07.2025
WIFO Economists Publish New Book on Austrian Competitiveness
30.06.2025
Video: Opening Discussion and Pulse Lecture
27.06.2025
Results of the WIFO-Konjunkturtest (Business Cycle Survey) of June 2025
27.06.2025
Research Group Industrial, Innovation and International Economics
20.06.2025
Workshop on Sustainability, Inequality and Innovation
18.06.2025
Video: Research Seminar with Matthias Schnetzer and Eva Six
18.06.2025
WIFO Business Cycle Report of June 2025
12.06.2025
WIFO Research Brief: Between Insurance and Social Policy
06.06.2025
That is Slightly Higher Than the EU Average of 0.66 Percent
26.05.2025
"EU GDP to grow by of 1.2 percent in 2025 and 1.5 percent in 2026"
23.05.2025
Call for Papers – Deadline for submissions: 15 July 2025
20.05.2025
Video: Research Seminar with Ulrich Glogowsky
19.05.2025
Price Effects Dampen Real Development
14.05.2025
But Global Uncertainty Persists
13.05.2025