2023-06-30 08:17:12
Public debt increased in the first quarter of 2023. On March 31, according to Statistics Austria, it was 368.5 billion euros and was thus 17.7 billion euros higher than at the end of 2022. The debt ratio – the ratio of government debt to gross domestic product (GDP) – rose from 78.4 percent at the end of 2022 to 80.6 percent at the end of March 2023.
This means that “they have moved further away from the Maastricht target of 60 percent,” said Statistics Austria Director General Tobias Thomas in a press release. 323.5 billion euros of the debt was attributable to bonds, 43.1 billion euros to loans, 1.9 billion euros to deposits.
The federal sector was responsible for the largest increase in public debt, where liabilities of 17.4 billion euros were added. The largest part of this was once more accounted for by the “core federal unit”, which covered the current deficit with new debt and ensured additional liquidity.
The government deficit was 6.6 billion euros in the first quarter of 2023, or 5.8 percent of quarterly GDP. For comparison, in the first quarter of 2022, it accounted for 5.2 billion euros and 5.0 percent of quarterly GDP.
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