Draft Federal Budget for 2011 Takes First Steps Towards Consolidation
With the trough of the recession following the global financial market crisis having been passed, fiscal policy is faced with the need to return to a sustainable path. The federal government targets a reduction of the general government deficit (in the Maastricht definition) below the ceiling of 3 percent of GDP as from 2012; subsequently, the deficit is to be lowered stepwise to 2.2 percent of GDP by 2014, with the public debt ratio levelling off at around 72 percent of GDP. Underlying the consolidation path for the period from 2011 to 2014 is a government programme that assigns, from an overall federal perspective, slightly more than half of deficit reduction to expenditure restraint, and somewhat less than half to higher taxes. For the federal budget, the expected savings cumulate to € 8.1 billion, while additional revenues amount to some € 6 billion.
Between Consolidation and Growth: Federal Financial Framework 2013-2016, "Consolidation Package II" and Stability Programme
The government debt ratio in Austria will rise above 74 percent of GDP in 2012. The quantifiable costs of the financial market crisis and the global recession account for nearly 7¾ percentage points of this ratio, further discretionary measures and statistical revisions for the last few years add nearly 6 percentage points. The "consolidation package" adopted in spring 2012 is to ensure a balanced general government budget (according to the Maastricht definition) by 2016. In addition, it is intended to reduce the structural deficit to 0.4 percent of GDP and the debt ratio to 70.6 percent of GDP.
Turbulent boundary layer wall‐pressure fluctuations downstream from an abrupt change in surface roughness
Spectra of wall‐pressure fluctuations beneath a turbulent boundary layer have been investigated immediately downstream from an abrupt change in surface roughness, from slightly rough to very rough. Over the measurable frequency band (400 Hz to 7 kHz), the spectra in the first 150 mm scale on wall variables. This indicates that the motions responsible for the pressure fluctuations measured in this region are very close to the wall. Farther downstream this scaling procedure breaks down. It is suggested that the initially thin internal layer behaves independently of the flow external to it until it has grown appreciably and only then interacts with the outer boundary layer. It was found that, for all frequencies measured, the dimensional spectral level decreases initially then rises to a maximum at 250 mm from the roughness change before decreasing once more. The position of the maximum is close to where the internal layer ceases to have a distinct edge.