TEHRAN (ANA)- Austria’s finance ministry raised its forecast of this year’s government deficit to 3.3 percent of gross domestic product (GDP), above the Maastricht criteria of 3 percent.
The ministry’s deficit forecast in March was 2.9 percent of GDP.
The ministry attributed the hike to the country’s slow economic recovery, the economic toll of the recent flood disaster, and an increase in government payouts to residents, Austrian broadcaster ORF reported.
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