Austria's 2006 budget deficit at 1.1 pct of GDP, 2007 deficit seen below 1 pct |
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Thu, 15 Mar 2007 15:04
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VIENNA (AFX) - Austria's budget deficit for 2006 will come in lower-than-expected at 1.1 pct of gross domestic product on the back of unexpectedly strong tax revenues, according to preliminary figures presented by Finance Minister Wilhelm Molterer.The 2007 budget deficit -- currently projected at 1.12 pct of GDP -- is likely to fall below 1 pct according to estimates by the chairman of the government debt committee, Bernhard Felderer, Austrian press agency APA reports.Revenues from corporate income taxes were unexpectedly high during 2006, filling public coffers with 4.8 bln eur - 1.0 bln eur more than had been budgeted.Revenues from wage taxes and value-added taxes were also significantly higher than had been projected.The 2006 budget deficit was originally forecast at 1.7 pct of GDP, with the estimate later lowered to 1.15 pct of GDP.peter.klopf@thomson.compkl/sljCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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