Austria to provide pensioners with compensation from €500 to €1,000


June 14, Fineko/ The Austrian government allocates an aid package of more than €28 bn in order to compensate the population for increased costs due to rising prices amid high inflation, ABC.AZ reports, citing Austrian Chancellor Karl Nehammer.

"We decided to give people back the money that inflation took away from them. We’ve managed to create a package of more than $28 bn to relieve the burden of people," Nehammer announced at a press conference in Vienna.

The chancellor added that the aid package should alleviate the burden faced by the population due to the rise in prices in all sectors of the economy as a result of rising inflation.

He added that pensioners will receive from €500 to €1,000, taxpayers will receive the same amount to compensate for increased costs, families with children will receive up to €900 per child, the poor will receive assistance in the amount of €800.