{"id":114928,"date":"2024-01-22T19:06:02","date_gmt":"2024-01-22T18:06:02","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/114928\/"},"modified":"2024-11-07T04:26:09","modified_gmt":"2024-11-07T03:26:09","slug":"draft-federal-budget-for-2011-takes-first-steps-towards-consolidation","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/114928\/","title":{"rendered":"Draft Federal Budget for 2011 Takes First Steps Towards Consolidation"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-114928","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"With the trough of the recession following the global financial market crisis having been passed, fiscal policy is faced with the need to return to a sustainable path. The federal government targets a reduction of the general government deficit (in the Maastricht definition) below the ceiling of 3 percent of GDP as from 2012; subsequently, the deficit is to be lowered stepwise to 2.2 percent of GDP by 2014, with the public debt ratio levelling off at around 72 percent of GDP. Underlying the consolidation path for the period from 2011 to 2014 is a government programme that assigns, from an overall federal perspective, slightly more than half of deficit reduction to expenditure restraint, and somewhat less than half to higher taxes. For the federal budget, the expected savings cumulate to \u20ac 8.1 billion, while additional revenues amount to some \u20ac 6 billion.","onlinedate":"2011-03-30 02:00:00","lang":"English","publication_series":"","publication_date":"20110301","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"Draft Federal Budget; Financial Framework; Fiscal policy; Austria\"]","jelcodes":"[]","related_publications":"[]","pdf":340359,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"16","monthly_report_pages":"35-56","monthly_report_pages_sort":"35","issue":"1","journal":"Austrian Economic Quarterly","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[183747],"research_groups":[3500],"collaboration":"","persons":[3830],"persons_data":"[{\"personId\":3830,\"personName\":\"Margit Schratzenstaller\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Schratzenstaller, M.<\\\/span> (2011). <span>Draft Federal Budget for 2011 Takes First Steps Towards Consolidation<\\\/span>. <span><em>Austrian Economic Quarterly<\\\/em><\\\/span>, <em>16<\\\/em>(1), 35-56. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/41483\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/41483<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Schratzenstaller M<\\\/span>. <span class=\\\"title\\\"><span>Draft Federal Budget for 2011 Takes First Steps Towards Consolidation<\\\/span><\\\/span>. <span>Austrian Economic Quarterly<\\\/span>. 2011 Mar;16(1):35-56.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{9dea684cece845ebae89b2e88f02e862,<\\\/div><div>  title    = \\\"Draft Federal Budget for 2011 Takes First Steps Towards Consolidation\\\",<\\\/div><div>  abstract = \\\"With the trough of the recession following the global financial market crisis having been passed, fiscal policy is faced with the need to return to a sustainable path. The federal government targets a reduction of the general government deficit (in the Maastricht definition) below the ceiling of 3 percent of GDP as from 2012; subsequently, the deficit is to be lowered stepwise to 2.2 percent of GDP by 2014, with the public debt ratio levelling off at around 72 percent of GDP. Underlying the consolidation path for the period from 2011 to 2014 is a government programme that assigns, from an overall federal perspective, slightly more than half of deficit reduction to expenditure restraint, and somewhat less than half to higher taxes. For the federal budget, the expected savings cumulate to \u20ac 8.1 billion, while additional revenues amount to some \u20ac 6 billion.\\\",<\\\/div><div>  keywords = \\\"Draft Federal Budget; Financial Framework; Fiscal policy; Austria, Draft Federal Budget; Financial Framework; Fiscal policy; Austria\\\",<\\\/div><div>  author   = \\\"Margit Schratzenstaller\\\",<\\\/div><div>  note     = \\\"Draft Federal Budget 2011\\\",<\\\/div><div>  year     = \\\"2011\\\",<\\\/div><div>  month    = mar,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  volume   = \\\"16\\\",<\\\/div><div>  pages    = \\\"35--56\\\",<\\\/div><div>  journal  = \\\"Austrian Economic Quarterly\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Draft Federal Budget for 2011 Takes First Steps Towards Consolidation<\\\/p><p>AU  - Schratzenstaller, Margit<\\\/p><p>N1  - Draft Federal Budget 2011<\\\/p><p>PY  - 2011\\\/3<\\\/p><p>Y1  - 2011\\\/3<\\\/p><p>N2  - With the trough of the recession following the global financial market crisis having been passed, fiscal policy is faced with the need to return to a sustainable path. The federal government targets a reduction of the general government deficit (in the Maastricht definition) below the ceiling of 3 percent of GDP as from 2012; subsequently, the deficit is to be lowered stepwise to 2.2 percent of GDP by 2014, with the public debt ratio levelling off at around 72 percent of GDP. Underlying the consolidation path for the period from 2011 to 2014 is a government programme that assigns, from an overall federal perspective, slightly more than half of deficit reduction to expenditure restraint, and somewhat less than half to higher taxes. For the federal budget, the expected savings cumulate to \u20ac 8.1 billion, while additional revenues amount to some \u20ac 6 billion.<\\\/p><p>AB  - With the trough of the recession following the global financial market crisis having been passed, fiscal policy is faced with the need to return to a sustainable path. The federal government targets a reduction of the general government deficit (in the Maastricht definition) below the ceiling of 3 percent of GDP as from 2012; subsequently, the deficit is to be lowered stepwise to 2.2 percent of GDP by 2014, with the public debt ratio levelling off at around 72 percent of GDP. Underlying the consolidation path for the period from 2011 to 2014 is a government programme that assigns, from an overall federal perspective, slightly more than half of deficit reduction to expenditure restraint, and somewhat less than half to higher taxes. For the federal budget, the expected savings cumulate to \u20ac 8.1 billion, while additional revenues amount to some \u20ac 6 billion.<\\\/p><p>KW  - Draft Federal Budget; Financial Framework; Fiscal policy; Austria<\\\/p><p>KW  - Draft Federal Budget; Financial Framework; Fiscal policy; Austria<\\\/p><p>M3  - WIFO series<\\\/p><p>VL  - 16<\\\/p><p>SP  - 35<\\\/p><p>EP  - 56<\\\/p><p>JO  - Austrian Economic Quarterly<\\\/p><p>JF  - Austrian Economic Quarterly<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Draft Federal Budget for 2011 Takes First Steps Towards Consolidation - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/114928\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Draft Federal Budget for 2011 Takes First Steps Towards Consolidation\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/114928\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-07T03:26:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/114928\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/114928\\\/\",\"name\":\"Draft Federal Budget for 2011 Takes First Steps Towards Consolidation - 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