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Austria dramatically decreases defence budget

Vienna, Austria - The domestic industry will be severely affected

Austria is going to cut the defence expenditure to face the ongoing financial crisis faced by the country. In fact, the Austrian economy has just begun to recover from the recession in 2008, showing a growth rate of 6.3% in 2011. However, the pace of recovery is, and is expected to be in future, very slow. To face the deficit and public debt, the local government is cutting back spending, including...

AVIONEWS - World Aeronautical Press Agency - 1141739

AVIONEWS - World Aeronautical Press Agency
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