Burgenland to repay another EUR 57 million in loans

Burgenland will repay a further EUR 57 million loan this month after already paying back around EUR 50 million in June, Governor Hans Peter Doskozil said on Monday, according to ORF.

“Our course is clear: reduce debt, reduce interest costs and thereby make more money available for tasks that directly benefit the people of Burgenland,” Doskozil said in a statement.

The repayments have been made possible by the successful sale of housing loans, which generated around EUR 250 million for the province in the first phase. A second phase, involving sales to non-profit housing providers and private companies, is already under way.

The remaining loans are to be sold gradually to institutional investors by 2027. By then, Burgenland’s debt is expected to have fallen by around EUR 200 million.

Doskozil said the province’s debt level was now well below the EUR 600 million limit set by the Burgenland Budget Stabilisation Act.