Budget report – Blümel: Economic recovery already visible



Finance Minister Gernot Blümel (ÖVP) published the monthly success for September or for the first three quarters of 2021 on Monday. The economic recovery of the last few months is already visible in the budget execution, explained Blümel. “The economic upswing is particularly evident in payments. Compared to the same period of the previous year, they have increased by a total of 8.9 billion euros and are thus already above the level of 2019. “

“After the first months of 2021 were heavily influenced by the fiscal measures to manage the crisis, the economic recovery of the last few months is already visible in the federal budget implementation up to September 2021,” said Blümel in a written statement on the report that the ministry sent to the Transmitted to Parliament. “The current Wifo data show the rapid recovery of the Austrian economy over the summer. I already said in the spring that we will experience a rapid recovery and that is currently the case – the domestic economy was above its pre-crisis level for the first time in the third quarter. Our economic aid and the health pandemic fight made this recovery possible – now we have to ignite the vaccine turbo for the coming winter season in order not to endanger the economic upturn, ”said Blümel.

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Payments 8.9 billion euros higher than in 2020
According to the budget implementation, the payments have increased by a total of 8.9 billion euros compared to the same period of the previous year. This results mainly from higher income in the areas of public taxes (plus 7.6 billion euros), work (plus 0.7 billion euros) and family and youth (plus 0.5 billion euros).

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The disbursements increase compared to the same period of the previous year by 6.6 billion euros to 72.3 billion euros. The higher adjusted payments result primarily from higher payments in the areas of federal assets (plus 4.7 billion euros), health (plus 1.4 billion euros), financial equalization (plus 550.3 million euros) and business (plus 333.2 million euros) Euro).

The general government benchmarks were also updated in the overview submitted to the EU Commission. According to this estimate, the Maastricht balance is expected to be minus 24.2 billion euros or 6.0 percent of GDP – 8.1 billion euros or 2.4 percentage points of GDP better than in April. At 82.8 percent of GDP, the public debt-to-GDP ratio will be 6.8 percentage points lower than forecast in the spring.

Around 1.3 million employees are still on short-time work
The current data on Corona aid is also noted in the monthly success. By October 15, 296,795 applications for short-time work were approved, including extensions. 117,992 companies and around 1.29 million employees were affected. The total funding volume was 10.4 billion euros. The payments for short-time working total (years 2020 and 2021 together) until October 15 to 9.1 billion euros.

From the COVID-19 crisis management fund, 9.4 billion euros were paid out in 2021 by October 15. For the years 2020 and 2021, the payments from the fund add up to 17.9 billion euros.


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