Closing of accounts

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The Vorarlberg state government presented its financial statements on Tuesday: in 2023, the deficit amounted to around 40 million euros and the reserve fund shrank from 196.7 to 126.7 million euros. The debt level, on the other hand, was reduced.

The state had come up with a particularly attractive title for the presentation of the 2023 financial statements. This time, the not-so-nice figures were hidden behind the heading "Relief and investments despite inflation".

With a budget volume of around 2.3 billion euros, last year closed with a whopping minus of 39.4 million euros - and yet turned out better than planned. The missing money was taken from the reserve fund, which shrank from 196.7 to around 126.7 million euros. "Despite all the difficulties, we made forward-looking investments and reacted correctly during the inflation crisis," commented Governor and Finance Minister Markus Wallner (ÖVP) on the result.

The year 2023 went better than expected, but the situation was certainly challenging

Landeshauptmann Markus Wallner (ÖVP)

He attributed the better result to financial support from the federal government and also to "moderation". It had been a firm goal to be able to tackle 2024 and 2025 with a cash reserve. The remaining liquidity reserve essentially stems from a loan taken out in 2021.

Corona pandemic
The debt level was reduced from EUR 476.2 million to EUR 450.9 million in 2023; all liabilities with variable interest rates had already been settled in 2022. The majority of the debt is due to the coronavirus pandemic; as recently as 2019, it amounted to just 110.5 million euros.

The very high inflation with corresponding wage settlements and the cushioning of the inflation crisis had made 2023 a difficult year for the budget, said Wallner. For example, an electricity discount had been introduced for all households (this will run until March 2025), the standard rates for social welfare had been increased and the heating cost subsidy had been extended and expanded.