{"id":119994,"date":"2024-01-22T22:48:59","date_gmt":"2024-01-22T21:48:59","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/119994\/"},"modified":"2024-11-14T13:02:48","modified_gmt":"2024-11-14T12:02:48","slug":"short-and-medium-term-prospects-of-fiscal-policy-draft-federal-budget-2014-15-and-federal-medium-term-expenditure-framework-2015-2018","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/119994\/","title":{"rendered":"Short- and Medium-Term Prospects of Fiscal Policy. Draft Federal Budget 2014-15 and Federal Medium-Term Expenditure Framework 2015-2018"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-119994","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Framework conditions for fiscal policy remain difficult: besides the medium-term outlook of only moderate economic growth, the liquidation of Hypo Alpe-Adria-Bank International AG will weigh on the budget. The need for further subsidies to (partly) nationalised banks in distress cannot be ruled out. Due to statistical revisions, the public debt ratio for 2013 rises to 81.2 percent of GDP. With the draft federal budget for 2014-15 and the Medium-Term Expenditure Framework 2015-2018, the federal government pursues its strategy of consolidation. By 2016, the structural deficit is to be brought down to 0.4 percent of GDP. There remains the need for a fundamental overhaul of the current tax system with its heavy burden on labour, and for further expenditures for education including universities, child-care and research and development to strengthen long-term growth and employment potentials of the Austrian economy.","onlinedate":"2015-02-18 12:00:00","lang":"English","publication_series":"","publication_date":"20150201","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"Federal budget\",\"financial aid for banks\",\"fiscal consolidation\",\"government ratios\",\"indebtedness\",\"taxes\"]","jelcodes":"[]","related_publications":"[]","pdf":414466,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"20","monthly_report_pages":"31-46","monthly_report_pages_sort":"31","issue":"3","journal":"WIFO Bulletin","publisher":"","invisible":false,"external":false,"embargo_date":"2015-02-18 12:00:00","types":[50590],"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> (2015). <span>Short- and Medium-Term Prospects of Fiscal Policy. Draft Federal Budget 2014-15 and Federal Medium-Term Expenditure Framework 2015-2018<\\\/span>. <span><em>WIFO Bulletin<\\\/em><\\\/span>, <em>20<\\\/em>(3), 31-46. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/50943\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/50943<\\\/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>Short- and Medium-Term Prospects of Fiscal Policy. Draft Federal Budget 2014-15 and Federal Medium-Term Expenditure Framework 2015-2018<\\\/span><\\\/span>. <span>WIFO Bulletin<\\\/span>. 2015 Feb;20(3):31-46.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{c87ae8b853884f228075f50a3a29fa9e,<\\\/div><div>  title    = \\\"Short- and Medium-Term Prospects of Fiscal Policy. Draft Federal Budget 2014-15 and Federal Medium-Term Expenditure Framework 2015-2018\\\",<\\\/div><div>  abstract = \\\"Framework conditions for fiscal policy remain difficult: besides the medium-term outlook of only moderate economic growth, the liquidation of Hypo Alpe-Adria-Bank International AG will weigh on the budget. The need for further subsidies to (partly) nationalised banks in distress cannot be ruled out. Due to statistical revisions, the public debt ratio for 2013 rises to 81.2 percent of GDP. With the draft federal budget for 2014-15 and the Medium-Term Expenditure Framework 2015-2018, the federal government pursues its strategy of consolidation. By 2016, the structural deficit is to be brought down to 0.4 percent of GDP. There remains the need for a fundamental overhaul of the current tax system with its heavy burden on labour, and for further expenditures for education including universities, child-care and research and development to strengthen long-term growth and employment potentials of the Austrian economy.\\\",<\\\/div><div>  keywords = \\\"Federal budget, financial aid for banks, fiscal consolidation, government ratios, indebtedness, taxes, Federal budget, financial aid for banks, fiscal consolidation, government ratios, indebtedness, taxes\\\",<\\\/div><div>  author   = \\\"Margit Schratzenstaller\\\",<\\\/div><div>  note     = \\\"Draft Federal Budget 2014-15\\\",<\\\/div><div>  year     = \\\"2015\\\",<\\\/div><div>  month    = feb,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  volume   = \\\"20\\\",<\\\/div><div>  pages    = \\\"31--46\\\",<\\\/div><div>  journal  = \\\"WIFO Bulletin\\\",<\\\/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  - Short- and Medium-Term Prospects of Fiscal Policy. Draft Federal Budget 2014-15 and Federal Medium-Term Expenditure Framework 2015-2018<\\\/p><p>AU  - Schratzenstaller, Margit<\\\/p><p>N1  - Draft Federal Budget 2014-15<\\\/p><p>PY  - 2015\\\/2<\\\/p><p>Y1  - 2015\\\/2<\\\/p><p>N2  - Framework conditions for fiscal policy remain difficult: besides the medium-term outlook of only moderate economic growth, the liquidation of Hypo Alpe-Adria-Bank International AG will weigh on the budget. The need for further subsidies to (partly) nationalised banks in distress cannot be ruled out. Due to statistical revisions, the public debt ratio for 2013 rises to 81.2 percent of GDP. With the draft federal budget for 2014-15 and the Medium-Term Expenditure Framework 2015-2018, the federal government pursues its strategy of consolidation. By 2016, the structural deficit is to be brought down to 0.4 percent of GDP. There remains the need for a fundamental overhaul of the current tax system with its heavy burden on labour, and for further expenditures for education including universities, child-care and research and development to strengthen long-term growth and employment potentials of the Austrian economy.<\\\/p><p>AB  - Framework conditions for fiscal policy remain difficult: besides the medium-term outlook of only moderate economic growth, the liquidation of Hypo Alpe-Adria-Bank International AG will weigh on the budget. The need for further subsidies to (partly) nationalised banks in distress cannot be ruled out. Due to statistical revisions, the public debt ratio for 2013 rises to 81.2 percent of GDP. With the draft federal budget for 2014-15 and the Medium-Term Expenditure Framework 2015-2018, the federal government pursues its strategy of consolidation. By 2016, the structural deficit is to be brought down to 0.4 percent of GDP. There remains the need for a fundamental overhaul of the current tax system with its heavy burden on labour, and for further expenditures for education including universities, child-care and research and development to strengthen long-term growth and employment potentials of the Austrian economy.<\\\/p><p>KW  - Federal budget<\\\/p><p>KW  - financial aid for banks<\\\/p><p>KW  - fiscal consolidation<\\\/p><p>KW  - government ratios<\\\/p><p>KW  - indebtedness<\\\/p><p>KW  - taxes<\\\/p><p>KW  - Federal budget<\\\/p><p>KW  - financial aid for banks<\\\/p><p>KW  - fiscal consolidation<\\\/p><p>KW  - government ratios<\\\/p><p>KW  - indebtedness<\\\/p><p>KW  - taxes<\\\/p><p>M3  - WIFO series<\\\/p><p>VL  - 20<\\\/p><p>SP  - 31<\\\/p><p>EP  - 46<\\\/p><p>JO  - WIFO Bulletin<\\\/p><p>JF  - WIFO Bulletin<\\\/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>Short- and Medium-Term Prospects of Fiscal Policy. 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