AUSTRIA: TOWARDS A BALANCED BUDGET

Article Abstract:

The Austrian government's budget consolidation plan entails a balanced budget from year 2002. Budget deficit in year 2000 is estimated at Sch 46bn and in 2001 at Sch 22.2bn, down from Sch 57.4bn in 1999. The consolidation target of Sch 101bn is to be achieved by cutting federal spending by Sch 42.8bn and by increasing revenue. This involves a reduction of tax benefits for companies, which means a revenue increase of about Sch 14bn. On the spending side, savings are to be derived largely from the reforms of the pension system and the public administration. Spending on railway construction is to be cut back, which should contribute Sch 3bn to savings.

Public Finance Activities, National Government Liabilities & Debt, Public Debt, Budget Process, Brief Article, Budgeting, National debt

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AUSTRIA: STATES CALL FOR INFRASTRUCTURE PROJECTS

Article Abstract:

In view of the planned expansion of the European Union towards central/eastern Europe, the three Austrian federal states of Vienna, Lower Austria and Burgenland are calling for investments in the infrastructure of eastern Austria. In their opinion, the most important projects are: - four-track expansion of the Westbahn - Sudbahn with connection to the TEN corridor V - motorway ring around Vienna - motorway north of Vienna These projects should be realised by 2015 and require an investment volume of Sch 100bn.

Highways & Streets Constructn, Highway and Street Construction, Intnl Affairs & Finance, National Security and International Affairs, Road construction

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AUSTRIA: KALLINGER CHANGES HANDS

Article Abstract:

Swietelsky has taken over Kallinger Bahnbau, the railway construction division of the insolvent construction group of Anton Kallinger-Prskawetz. Kallinger Bahnbau generates an annual turnover of about Sch 100mn.

Asset sales & divestitures, Construction

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