Austria passes budget for 2012

16.11.2011 November 18 2011 Austrian Parliament will vote for passing 2012 national budget. The budget draft provides tax revenues of EUR 64.41bln, as well as expenses in the amount of EUR 73.58bln. Thus the planned budget deficit in 2012 is 2.6% of GDP.
In spite of disappointing forecast experts declare that Austria is in a stable position. The state has high economic indicators, including employment indicators. Perhaps more strict fiscal policy of the state will be in 2013-2015.

Expert’s opinion

“Today Austria is in a stable position. It is reliable and consequently popular jurisdiction for foreign capital investments. Still the state doesn’t introduce strict economic measures and investors have no grounds for concern”.

On the basis: www.tax-news.com

Andrianova Irina ( the lawyer of international consulting department of Honest&Bright)