EU finance ministers say Austria on track to exit deficit procedure

The Eurogroup of EU finance ministers, meeting in Brussels, concluded that Austria’s 2027 budget proposal complies with the European Commission’s assessment and that the country remains on course to exit the EU deficit‑procedure by the end of 2028. The group noted Austria’s recent budget deficit of 5.8 % of GDP and urged the government to submit an updated draft for 2028 by 15 October 2027 if the fiscal path changes.

Austrian Green Party budget spokesperson Jakob Schwarz, citing an analysis by the Austrian National Bank, criticised the budget as disproportionately affecting low‑income earners, families with children and part‑time workers while leaving wealthy households and large inheritances untouched. He called for a fairer fiscal consolidation that includes contributions from the super‑rich, cuts to climate‑harmful subsidies and a halt to multi‑billion‑euro road‑building projects.