Austria is grappling with a significant budget deficit, projected to reach 3.9% of its GDP this year, exceeding the EU's Maastricht criteria of 3%.

This financial strain comes as Magnus Brunner, the outgoing Finance Minister, prepares to transition to his new role as EU Commissioner for Migration and Home Affairs.

Brunner's farewell celebration, planned amidst discussions of a looming austerity package, has drawn criticism due to the country's fiscal challenges.

The deficit, initially forecasted at 2.9%, was revised upwards following economic downturns and revised GDP projections.

Brunner attributes these changes to unforeseen economic crises, including the COVID-19 pandemic and geopolitical tensions.

As Austria faces its longest economic downturn since 1946, experts debate whether the country has a spending or revenue problem, with calls for efficient spending and potential tax reforms.

The incoming government faces the daunting task of addressing these fiscal challenges while maintaining economic stability.