Austria's Debt Rises to Nearly 400 Billion Euros

As of September 30, the public debt stood at 398.4 billion euros, Statistics Austria announced on Monday. This is 3.6 billion euros more than at the end of the previous quarter. The public deficit was last at 4.5 billion euros or 3.8 percent of GDP.

National Debt Continued to Rise in the 3rd Quarter

"Austria continued to accumulate debt in the third quarter of 2024," said Tobias Thomas, Director General of Statistics Austria, according to a press release. "At the same time, the debt ratio, i.e. the ratio of public debt to economic performance, rose from 82.9 percent in the second quarter of 2024 to currently 83.2 percent and thus moved further away from the Maastricht target of 60 percent." 354.1 billion euros of the debt was attributable to bonds, 42.3 billion euros to loans, and 2.0 billion euros to deposits.

Federal Sector with Largest Increase

The largest increase in public debt was in the federal sector: Here, new liabilities of 1.8 billion euros were added. The increase can be attributed primarily to the state railway infrastructure units, which made investments in infrastructure with newly incurred debt, according to Statistics Austria.

An increase in debt was also recorded in the state and municipal sector, mainly to finance ongoing deficits.

(APA/Red)

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