Austria Boosts Federal Disaster Fund to €1 Billion

Austria's federal disaster fund will see an increase to €1 billion. Companies heavily impacted by recent floods can defer tax payments, Chancellor Karl Nehammer confirmed following extreme weather. The exchange rate stands at $1 to 0.8990 euros.

Austria's federal disaster fund will increase to €1 billion, Chancellor Karl Nehammer announced on Wednesday after the region experienced extreme weather and flooding.

Businesses severely affected by the floods will be allowed to postpone their tax payments to help alleviate financial strain.

The current exchange rate is $1 to 0.8990 euros.

(With inputs from agencies.)