8 hours agoCOVID-19 will cost Austria 54 billion euros
Periskopi(6 years ago)
(6 years ago)Austria's Fiscal Council has calculated how the consequences of the coronary crisis will affect the budget this and next year. According to estimates, this year's pandemic alone will cost 34.6 billion euros, while next year 19.2 billion euros. The Fiscal Council assessment is based on the assumption that there will be a development [...]
According to estimates, this year's pandemic alone will cost 34.6 billion euros, while next year 19.2 billion euros.
The Fiscal Council assessment is based on the assumption that there will be a positive development next year.
The 53.8 billion euro burden for the budget for these two years includes costs of stimulating measures, as well as the consequences of the economic downturn.
Fiscal Union President Martin Kocher said he was of the opinion that “unblocking” as it was in spring must be avoided.
At the same time, he warned that the increasing number of new infected people has a negative impact on economic activities.
According to the Fiscal Council, the effects of pandemic will be felt until 2024.
