Beate Meinl-Reisinger in a rage: "Now there's fire under the roof," said the leader of the Neos party after the WIFO and IHS presented the corrected deficit figures. The economic forecast fell sharply compared to June and sees the second year of recession in a row. "The longest recession since 1946," said WIFO boss Gabriel Felbermayr.

Fierce criticism of the nation's financial situation also came from the FPÖ and SPÖ. Next hammer: the forecast for the budget deficit was raised by the institutes to 3.7 and 3.5 percent of GDP respectively. That is well above the Maastricht limit. And above the figures provided by the Ministry of Finance. Minister Magnus Brunner had only raised his forecast from 2.9 to 3.3 percent shortly after the election.

Meinl-Reisinger is now even accusing Brunner of deliberately lying to the public about the situation before the election. Explosive: the leader of the Pinken party would like to join the chancellor's party in government. It remains to be seen whether such attacks will be helpful.

Finance Minister right, but ...
One thing is certain: The figures could not have been obtained earlier - it is standard procedure. "The time of transmission has been standardized throughout the EU for years and is always in the same period," says the Ministry of Finance. Current figures could therefore not have been available before the elections.

In general, the ministry points to uncertainty in forecasts: "Revisions are normal. Like the recent WIFO forecast for the deficit." The current forecast is primarily due to the crises of recent years and the effects of the flood disaster, which are still difficult to assess at present, as well as measures that have been adopted, such as the increase in the climate bonus.

Nevertheless, several warnings from renowned economists were thrown to the wind. For example, the head of the Fiscal Advisory Council, Christoph Badelt, who predicted in April that the country would fail to meet the Maastricht criteria and run a deficit of 3.4 percent. In June, the National Bank and WIFO followed suit. The government was relaxed about this and saw no cause for concern. During the election campaign, little or nothing was heard about possible austerity measures. Except from the Neos. 

One thing is certain: Savings must now be made. In the billions. Finance Minister - probably the most brutal political job at the moment. Magnus Brunner will be spared this. He will become EU Commissioner. Beate Meinl-Reisinger claimed the Ministry of Finance for her party in July. Asked about this yesterday, a spokesperson said: "We are not talking about portfolios. It is clear that tough reforms are needed. And that we can do it, too." 

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