Deadline until January
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The European Commission is considering opening an excessive deficit procedure against Austria: Austria's budget deficit does not meet Brussels' requirements.
The EU Commission "could" therefore recommend to the Council (of Member States) that an "excessive deficit be established".
Decision pending
Austria has announced that it will quickly submit measures to reduce its deficit. The Commission will then assess these. The Council will take the final decision.
"Intention expressed"
In its communication, the Commission also refers to the ongoing government negotiations in Austria. The Austrian authorities had "recalled and expressed their intention" to take the necessary measures to reduce the deficit below the three percent mark required by Brussels in 2025.
The Commission said it was ready to assess the measures as soon as they were "agreed by the government and sufficiently detailed". If this is achieved before the meeting of the relevant Council of Economics and Finance Ministers in January, the opening of proceedings could be avoided.
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