Austria's Far-Right Leader Herbert Kickl Poised to Tackle Budget Deficit

Austrian far-right leader Herbert Kickl and the conservative Austrian People's Party have agreed on measures to reduce the budget deficit without introducing new taxes. The move comes as they attempt to form a coalition government, representing Austria's first far-right-led government post-World War II. Talks continue amidst political uncertainties.

Austrian far-right leader Herbert Kickl announced Monday that he and the conservative Austrian People's Party have reached an agreement to address the nation's budget deficit, marking a significant step towards Austria's first post-World War II government led by the far right.

Kickl, whose Freedom Party emerged victorious in Austria's recent parliamentary election, has been tasked with forming a government with the Austrian People's Party. Previous attempts by the latter to form a coalition failed due to disagreements over financial strategies.

The coalition aims to save 6.3 billion euros ($6.5 billion) in 2023 to meet the European Union's deficit mandate, focusing on closing tax loopholes and reducing subsidies, rather than imposing new taxes. Talks continue without a confirmed outcome, with interim leadership in play as Austria's political future remains uncertain.

(With inputs from agencies.)