Austrian 2010 Deficit Wider Than Expected on Rail, Bank Debt
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Austria’s budget deficit widened to 4.6 percent of gross domestic product last year, more than previously announced, after debt of government-owned companies including the railway and a nationalized bank was reclassified.
The Austrian Statistics Office in Vienna partially included OeBB Infrastruktur AG, which builds and maintains the country’s railroad infrastructure, in the government’s deficit and debt, it said in a statement today. It also included debts of public hospitals and of KA Finanz AG, a nationalized bank.