household debts in Austria

Gross debt in Austria

General government debt of Austria refers to the debts of the state, their states and municipalities, and also of public sector institutions such as social security funds.

The government debt in the period from 2000 to 2021 was between 129.7 billion and 398.1 billion USD. The highest level of the last years at 398 billion US Dollar was reached in 2021. The budget deficit in the same year was 27.7 billion USD.

Based on the number of inhabitants, this is a debt of 44,454 USD per person. For comparison, the average debt per person in the same year in the European Union was 35,341 USD.

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Gross debt of the last 21 years in billion USD

This is how much debt Austria can afford

In accordance with the Maastricht Treaty, government debt in Austria is aggregated for the federal, state and local governments as well as state institutions, and therefore includes the debt of all public budgets. As it is gross debt, the government's assets are not deducted. According to the EU convergence criteria, each EU country must meet certain requirements. For the debt budget, these two conditions in particular are decisive:
  • Consolidated gross debt may not exceed 60% of gross domestic product (GDP).
  • The budget deficit, i.e. new annual debt, may not exceed 3% of GDP.
Between 2000 and 2021, Austria exceeded the 60% ceiling 22 times. The budget deficit exceeded the 3 percent limit 5 times. If a country repeatedly fails to comply with these limits, infringement proceedings can be initiated on the part of the EU. During the COVID years in particular, aid programs were launched in most countries to offset the consequences of the economic downturn. Around half of all EU countries were therefore unable to comply with these limits.

At the end of 2021, the debt of all EU countries averaged 92 percent.

YearAustria total% of GDPper capitaEU per capita
2000129.69 bn USD65.74%16,188 USD10,328 USD
2001131.06 bn USD66.35%16,296 USD10,404 USD
2002143.60 bn USD66.98%17,768 USD11,368 USD
2003170.21 bn USD64.90%20,958 USD14,148 USD
2004195.49 bn USD64.85%23,922 USD16,162 USD
2005215.95 bn USD68.32%26,246 USD16,918 USD
2006225.31 bn USD67.00%27,249 USD17,549 USD
2007251.96 bn USD64.74%30,373 USD19,574 USD
2008295.60 bn USD68.42%35,522 USD22,721 USD
2009319.72 bn USD79.58%38,320 USD23,701 USD
2010323.30 bn USD82.42%38,657 USD25,145 USD
2011354.75 bn USD82.18%42,274 USD28,417 USD
2012334.32 bn USD81.66%39,659 USD27,784 USD
2013348.50 bn USD81.01%41,098 USD30,021 USD
2014370.70 bn USD83.76%43,375 USD30,832 USD
2015322.39 bn USD84.40%37,302 USD26,170 USD
2016326.76 bn USD82.55%37,401 USD26,655 USD
2017327.98 bn USD78.60%37,281 USD27,535 USD
2018336.90 bn USD74.05%38,108 USD29,172 USD
2019313.80 bn USD70.58%35,339 USD27,927 USD
2020362.57 bn USD83.31%40,661 USD32,227 USD
2021398.12 bn USD82.88%44,454 USD35,341 USD

Comparison of gross debt per capita with the European Union in U.S. dollars

      Austria       European Union

Budget deficit in Austria

household debts in AustriaThe budget deficit of a country is the result of all its claims and liabilities. This includes incomes and expenses, repayments and building of new debts in other countries, but also domestic positions of the government, such as social insurance, local authorities and communities. It is the financial balance of the economic accounts. In simple terms: If a country at the end of the year has more money than at at the beginning, it is a surplus. If it is less, it is called a deficit.

The budget balance in Austria in the period between 1998 and 2022 varied between -34.77 billion euros and +2.52 billion euros. In 2022, Austria reached a balance of -15.05 billion euros.

In ratio to population, this equals a new indebtedness of 1,681 euros per capita in Austria in 2022. For comparison, the average debt per capita in the European Union in the same year was 1,254 euros.

Budget deficit and surplus in the last 24 years

YearAustria total% of GDPper capitaEU per capita
1998-4.95 bn USD-2.27%-621 USD-398 USD
1999-4.78 bn USD-2.20%-598 USD-204 USD
2000-3.23 bn USD-1.64%-403 USD112 USD
2001-0.09 bn USD-0.05%-12 USD-299 USD
2002-1.48 bn USD-0.69%-183 USD-565 USD
2003-3.83 bn USD-1.46%-472 USD-840 USD
2004-14.35 bn USD-4.76%-1,756 USD-920 USD
2005-8.03 bn USD-2.54%-976 USD-822 USD
2006-8.53 bn USD-2.54%-1,031 USD-568 USD
2007-5.27 bn USD-1.35%-636 USD-360 USD
2008-6.46 bn USD-1.50%-776 USD-1,085 USD
2009-21.41 bn USD-5.33%-2,566 USD-2,021 USD
2010-17.42 bn USD-4.44%-2,083 USD-1,970 USD
2011-11.02 bn USD-2.55%-1,314 USD-1,463 USD
2012-8.96 bn USD-2.19%-1,063 USD-1,220 USD
2013-8.39 bn USD-1.95%-989 USD-1,027 USD
2014-12.08 bn USD-2.73%-1,413 USD-851 USD
2015-3.86 bn USD-1.01%-446 USD-574 USD
2016-6.07 bn USD-1.53%-695 USD-421 USD
2017-3.41 bn USD-0.82%-387 USD-263 USD
20180.77 bn USD0.17%88 USD-134 USD
20192.52 bn USD0.57%284 USD-191 USD
2020-34.77 bn USD-7.99%-3,899 USD-2,317 USD
2021-27.74 bn USD-5.78%-3,098 USD-1,852 USD
2022-15.05 bn USD-1,681 USD-1,254 USD

(negative numbers = deficit)
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