Austria to Narrow Budget Gap in Push to Enforce EU Rules

(Bloomberg) -- Austria plans to cut next year’s budget deficit to one of the narrowest in the European Union as it leads a lobbying effort to return to strict fiscal rules among member states. The nation aims for a gap of 2.3% of economic output, down from a 6% shortfall in 2021, according to a draft budget presented Wednesday. Austria said it wants to tighten the deficit after the coronavirus pandemic to help rebuild stimulus capacity for future crises.

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