March 15, 2020 / 9:01 PM / 3 months ago

Austrian budget deficit will be 'massive', Chancellor Kurz says

VIENNA, March 15 (Reuters) - Austria’s budget deficit will be “massive” because of the costs of dealing with the economic fallout from the coronavirus pandemic, Austrian Chancellor Kurz said on Sunday, the day after his government ditched its target of balancing its budget.

“It will be a massive deficit but that is necessary to ensure companies in Austria survive and workers do not lose their jobs wherever that is possible,” Kurz, a conservative, told national broadcaster ORF a day after he announced a 4 billion euro ($4.4 billion) economic aid package. ($1 = 0.9038 euros) (Reporting by Francois Murphy; Editing by Alexander Smith)

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