New President of the Austrian Fiscal Advisory Council, Christoph Badelt, pays inaugural visit to Finance Minister Gernot Blümel

Today, at the offices of the Ministry of Finance, an inaugural meeting took place between Finance Minister Gernot Blümel and the new President of the Austrian Fiscal Advisory Council, Dr Christoph Badelt. Badelt was appointed last week by the Council of Ministers as incoming President of the Fiscal Advisory Council, his term of office running until 2025.

"The Austrian Fiscal Advisory Council is an important interlocutor and source of policy approaches for the Austrian federal government in general, and in particular for my own department. I already know Christoph Badelt from his previous roles and hold him in high esteem, and so I am delighted that he has been able to take up the position of Advisory Council President. As soon as the health and economic crisis has been overcome, with the budget too, we must start to take initial steps towards normality," explains Finance Minister Gernot Blümel. Christoph Badelt, an eminent economic research and former Vice-Chancellor of the Vienna University of Economics and business, announced back in the autumn of last year that he would be leaving his post as head of the Austrian Institute of Economic Research at the end of summer 2021. He is now taking over the role of Advisory Council President from Martin Kocher, who took up a position within the federal government at the beginning of January.

The remit of the Austrian Fiscal Advisory Council is the monitoring of government finances and government debt; it regularly provides recommendations to the federal government. Dr Badelt's period of office runs until 2025; he is a qualified economist and emeritus professor at the Vienna University of Economics and Business. He has authored numerous publications in both books and journals on the principal subject matter of his work, particularly in relating to economic and social policy. "The Fiscal Advisory Council will continue in future to advocate debt reduction and a sustainable budget. This long-term stability is a vital factor in being optimally prepared for future crises, and saves taxpayers a great deal of money each year. However, besides our monitoring function, we also consider ourselves as service providers, offering active advice going forward, both to Austria and its institutions. I am looking forward to my future mission," is how Badelt outlines his new role.