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Austrian budget deficit outlook unchanged by Hypo bailout
November 14, 2012 / 12:31 PM / 5 years ago

Austrian budget deficit outlook unchanged by Hypo bailout

VIENNA, Nov 14 (Reuters) - The Austrian government still expects the country’s budget deficit to come in at 3.1 percent of gross domestic product (GDP) this year, despite pumping more money into the state-owned bank, the Austrian finance ministry said on Wednesday.

Hypo said earlier that Austria would inject another 500 million euros ($636 million) to help the troubled lender shore up its balance sheet.

The bank, nationalised in 2009 to avert a collapse which would have been felt throughout the region, is scrambling to meet regulatory requirements to boost its balance sheet by 1.5 billion euros by the end of the year.

$1 = 0.7867 euros Reporting by Angelika Gruber

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