A forensic analysis has tracked millions flowing out of Signa shortly before its collapse, while Austria’s public debt ratio has risen again… plus more stories from Austria on Wednesday.
Millions flowed out of Signa shortly before insolvency, analysis finds
A cash flow analysis commissioned by Signa Development’s insolvency administrator found that millions of euros flowed to business partners, shareholders, and managers shortly before the group’s insolvency at the end of 2023, according to Die Presse.
The analysis covered payments from January 1st, 2022, to December 29th, 2023, using accounting data from Signa Development accounts held primarily at Raiffeisenlandesbank Niederösterreich-Wien. The report also notes that interest payments on profit participation certificates totaling €15 million were made through an account at Raiffeisen Bank International.
The report says €600k went to Signa founder René Benko, and €500k went to supervisory board chair Alfred Gusenbauer in the year before the collapse. It also states that €24 million flowed to bodies linked to the Laura foundation, and that further forensic work across the three largest Signa companies is intended to be completed in the first quarter of 2026, with possible further criminal complaints not yet assessable. Benko has previously appeared in court and is presumed innocent.
Public debt ratio rises to 83.7 percent in third quarter
Austria’s public debt ratio rose to 83.7 percent of GDP in the third quarter, up from 81.5 percent a year earlier, according to Kurier.
As of September 30th, public debt stood at €423.9 billion, up €11.6 billion from the end of the second quarter. The largest increase was in the federal sector, where liabilities rose by €9.8 billion, while the Länder and municipalities each recorded €900 million in increases.
The public deficit in the third quarter was €3.9 billion, according to Kurier, representing 3.1 percent of GDP. For the first three quarters, the provisional results show a cumulative deficit of €17 billion, or 4.5 percent of GDP, which matched the federal government’s 2025 budget plan, while FPÖ budget spokesman Arnold Schiefer said this represented “eine schwere Hypothek für kommende Generationen”.
Consumer changes flagged for 2026, from electricity support to digital receipts
A range of consumer-facing measures are set to take effect in 2026, including a social electricity tariff, stricter rules against deceptive packaging and greenwashing, and the rollout of digital receipts, according to ORF.
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ORF reports that the new Electricity Industry Act will introduce a social tariff from April 1st, 2026, with a maximum net electricity price of 6 cents per kilowatt hour for the first 2,900 kWh per year for eligible low-income households. It also states that the current repair bonus will end in 2025 and will be replaced by a new scheme from 2026, with vouchers available digitally from January 12th.
Other measures listed include a law from January 1st, 2026, aimed at reducing controversial parking fee demands by cutting attorney and court fees, and an anti-shrinkflation law from April 1st, 2026, requiring a 60-day notice when contents fall but prices do not.
ORF also highlights EU-wide breakfast product labelling changes from June 14th, tighter rules on sustainability claims from September 27th, and the option for businesses to issue receipts digitally from October 1st, alongside a receipt lottery for adults with their main residence in Austria.
Hungarian snowshoer dies in avalanche accident in Rieserferner group
A 52-year-old Hungarian man has died after being caught in an avalanche on the Riesernock in the Rieserfernergruppe in the Tauferer Ahrntal, according to ORF Tirol.
The man was snowshoeing with his wife on Monday on the Hartdegenweg when a slab released. The snow carried him and then dropped him approximately 450 metres over rocky terrain.
The report says the slab may have been triggered by the hikers at around 2,350 metres. Mountain rescue teams, two emergency helicopters, the volunteer fire brigade, Carabinieri, the financial police, and emergency counsellors were deployed, and the man’s wife was uninjured.
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What’s happening in Austria today
Parliament is closed today, and tours are not offered. Several ministries and Länder have issued guidance ahead of New Year’s Eve, including safety advice on fireworks and emergencies, and tips for protecting pets from noise. In Vienna, the city has appealed for a quieter year-end and confirmed that the Silvesterpfad runs from 2 pm today to 2 am tomorrow across multiple city-centre locations.
Public transport is operating on special timetables and with diversions tonight in several cities.
In Vienna, services run to a Saturday timetable during the day, with diversions linked to the New Year’s Eve run, and Stephansplatz station is due to close from around 9 pm, with U1 and U3 trains passing through without stopping. Salzburg’s Staatsbrücke will close from around 10.45 pm, affecting stops and routes until service resumes on January 1st. Graz is running New Year’s Eve night services, and Linz has warned of short delays in the city centre this afternoon and says the Hauptplatz stop is not served from around 5 pm to 1 am. In Tyrol, local public transport is free from 8 pm tonight to 5 am tomorrow, with extra capacity in Innsbruck.
The forecast for today indicates sunshine early in many areas, with increasing cloud from the north and light snow developing in northern and eastern Austria during the afternoon. Early temperatures range from -14C to -3C, with daytime highs from -2C to +3C. Avalanche services that explicitly include today list a low danger level in Vorarlberg, with moderate danger flagged in higher terrain in Upper Austria and Styria, according to available bulletins and outlook information.
Tomorrow, January 1st, is a nationwide public holiday, and Parliament’s visitor operations are listed as closed. ORF 2 listings show the Federal President’s New Year’s address scheduled for 7.47 pm. The Interior Ministry says Interior Minister Gerhard Karner will hold informal talks in Vienna with Cyprus’ migration minister Nicholas Ioannides and Finland’s interior minister Mari Rantanen, and also announced that Sylvia Mayer will take over as Director of the DSN on January 1st. For New Year’s Day, the national forecast shows morning lows of -13C to +1C and daytime highs of -2C to +5C.
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Vocabulary
die Insolvenz – insolvency
der Schuldenstand – level of public debt
das Defizit – deficit
die Lawine – avalanche
das Schneebrett – slab avalanche
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