America News Agency

After the first coalition-building attempts failed in January, the center-right People's Party (ÖVP), the Social Democrats (SPÖ), and the liberal Neos presented a 200-page program primarily aimed at reviving the country's struggling economy and reducing the budget deficit.

ÖVP leader and likely next chancellor, Christian Stocker, said on Thursday that an agreement had been reached on a "joint program" with SPÖ and the liberals, adding that the three parties had worked "day and night" to finalize the deal.

The agreement ends months of uncertainty following the FPÖ’s historic election victory, in which it secured nearly 29% of the votes. After mainstream parties failed to reach a solution, the ÖVP initiated talks with the FPÖ, but these negotiations collapsed this month.

The FPÖ, led by likely pro-Russian and anti-EU leader Herbert Kickl, had campaigned for mass "remigration" and an end to aid for Ukraine, which would have resulted in Austria’s first far-right government since World War II.

However, negotiations failed due to disagreements over EU and asylum policies, as well as the FPÖ’s insistence on controlling both the Interior and Finance Ministries, a demand that the ÖVP firmly rejected.

With the country having gone without a government for the longest period in its modern history, President Alexander Van der Bellen called on the three party leaders to reach an agreement as soon as possible. The ministerial roles are expected to be announced on Friday.