Sponsored Content
Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Austrian Has Lowest Unemployment Rate in EU
Euro area unemployment rate at 10.3%, EU27 at 9.8%. Austria ranks first with 4.0%. Regarding youth unemployment, only the German unemployment rate is lower.
January 7, 2012
„We Are at the Tipping Point“
2012 will be a crucial year for Europe and Austria, says the director of the Austrian Institute of Economic Research (WIFO). The coming decade will be coined by debt reduction.
January 5, 2012
Austrian Economy Pushes for Austerity
In order to prevent new taxes, the Austrian Chamber of Commmerce and the Federation of Industries call for austerity measures.
January 5, 2012
Hungary Becomes Fundamental Risk Factor for Austrian Banks
Over the last weeks, fears of a Hungarian bankruptcy grew drastically. The Hungarian Forint has reached a new record low.
January 5, 2012
Rising Costs for Labor Market Service
The Austrian Labor Market Service (AMS) offered less trainings in 2011. However, costs rose up to € 455m. The AMS management faces critics.
January 4, 2012
Austerity Package: Business Association Warns of New Taxes
New taxes would be an “attack against the economy”, general secretary Peter Haubner says.
January 4, 2012
Dispute Over Part Time Work
The Austrian Chamber of Commerce and the trade union disagree over the advantages and disadvantages of part-time work for employees.
January 3, 2012
Government: Different Opinions on Taxation
The social democrats want to re-introduce the inheritance tax. The people´s party plans to raise tax quotas for the 13th and 14th salary.
January 3, 2012
Sorger Asks For Investments in Education and R&D
The President of the Federation of Austrian Industries (IV), Veit Sorger, calls for future investments.
January 3, 2012
Too Little Competition for Energy and Pharmaceuticals
According to the Austrian institute of economic research (WIFO), electricity, energy and pharmaceuticals are too expensive.
January 2, 2012
Austrian Enterprises Fear Nationalization in Hungary
Nationalization plans induce fierce criticism against the Hungarian Government. The Austrian waste management industry would be hit hard.
January 2, 2012
Austrian Government Debt Stands at € 214bn
Austrian government debt in relation to GDP declined slightly to 71.6%. Social insurance carriers reduced their debt by 49.5%.
December 30, 2011
Industry Wants to Suspend Banking Tax
The new capital requirements for banks are criticized by the Federation of Austrian Industries and the research institute WIFO.
December 29, 2011
Austrian Government Wants to Save € 10bn
The coalition partners agreed to cut expenses by € 2.0bn per year until 2016. Details were not published.
December 27, 2011
Moody’s Keeps Austria’s AAA
The rating agency points to Austria’s economic strength and attempts to introduce a balanced budget requirement in the constitution.
December 23, 2011
SPÖ Wants to Defend State’s Stake in Telekom Austria
According to State Secretary Andreas Schieder, the ÖIAG should defend its shareholding of 28%.
December 22, 2011
Crisis Reaches Austria’s Real Economy in 2012
Economic growth will collapse next year, investment activities and consumption will suffer from the crisis. A recovery is expected for 2013.
December 21, 2011
Resistance Against VBAG´s Structural Plans
The Austrian VBAB recently announced to restructure their group. However, the idea of a “bad bank” is seen as disadvantageous.
December 20, 2011
Substantial Gender Difference in Full-Time Employment
In Austria, 4.03 million employees counted for 3.54 million full-time equivalents in 2010. The gender gap is significant.
December 20, 2011
Felderer Expects Structural Changes
The head of the public debt committee, Bernhard Felderer says that new taxes are inevitable.
December 20, 2011
Fekter Pushes for Further Austerity Measures
The Austrian Minister of Finance, Maria Fekter (ÖVP), announced that the planned austerity measures will not be sufficient. The coalition partner SPÖ is upset.
December 19, 2011
Austerity Package for Austrian Railways?
According to media reports, the Austrian Railways (ÖBB) faces drastic steps. Among others, a hiring freeze is discussed.
December 19, 2011
OeNB: Developments in the Sovereign Debt Crisis Will Be Crucial for Financial Stability
The Austrian National Bank (OeNB) presented the 22nd Financial Stability Report.
December 16, 2011
Tax Returns Take 170 Hours
In order to settle their tax duties, Austrian companies have to take much time compared to other EU members.
December 13, 2011
Debt Brake: Government Tries Again
In order to install the „debt brake“ into the constitution, the Austrian government tries again to persuade the opposition parties.
December 12, 2011
€ 230m Capital Increase at Hypo Tirol
The province of Tyrol, the owner of Hypo Tirol, decided to strengthen the bank´s capital base. From where the funds will be provided, is not clear yet.
December 12, 2011
Mitterlehner Pushes for more Venture Capital
The Austrian Minister of Economics, Reinhold Mitterlehner wants to increase efficiency and reduce redundancies in economic subsidies.
December 10, 2011
Austria´s Industry Supports Croatia´s EU Accession
The Austrian Chamber of Commerce sees a huge interest of the domestic economy in Croatia´s EU accession. In 2010, Austria was the largest investor.
December 10, 2011
Nowotny Attacks EBA
The Governor of the Austrian Central Bank (OeNB), Ewald Nowotny, criticizes the high speed which EBA requires from banks to build up equity capital.
December 9, 2011
Reduced, But Still High Shortfall at Austrian Banks
EBA shortfall for RZB Group set at approximately € 2.1bn, for Erste Group at € 0.74bn. However, the initial shortfalls were reduced for RZB.
December 8, 2011
Austrian Post: Privatization Is Not Planned
The trade union of post employees wants to lower the dividends. Privatization plans have not been discussed yet.
December 8, 2011
Austria Considers to Employ South Europeans
Especially the tourism and the construction industries are ready to take on high-skilled workers from Spain, Greece or Portugal.
December 8, 2011
Austrian „Debt Brake“ Resolved
Due to the lack in approval by the opposition parties, the „debt brake“ will only be resolved as a simple act.
December 8, 2011
Rating Agencies Are Seen As Threat
The governor of the Austrian Central Bank, Ewald Nowotny, attacks S&P. For the head of the economic research institute IHS, Bernhard Felderer, the negative outlook must be seen as a warning signal.
December 7, 2011
„Debt Brake“: Critcism Against Opposition
After the “debt brake” has failed, the President of the Chamber of Commerce Christoph Leitl, Finance Minister Fekter and the Federal President Fischer criticize the three opposition parties.
December 6, 2011
Women´s Income Below Men
In Austria, the annual income of women is still considerably below men. However, this is mainly due to part time work. Male employees in private sector are top earners.
December 6, 2011
Increasing Gap in Incomes
Although Austria´s Gini coefficient is relatively low, the gap between high and low incomes becomes larger.
December 6, 2011
Opposition Not Convinced: „Debt Brake“ Fails
The Austrian government´s plans to introduce a “debt brake” in the constitution has failed. The three opposition parties are against the idea.
December 5, 2011
Up to 3.36% Salary Increase for Civil Servants
Salaries for Austrian civil servants will increase by 2.68% to 3.36%. The government and the union came to an agreement on Sunday.
December 5, 2011
Austrian Industry Supports Audit Court
For the Federation of Austrian Industries (IV), the administration has to be reformed immediately. Future investments are needed instead of administrative expenses.
December 5, 2011
Hypo Group: € 3.0bn Debts at BayernLB
The nationalized Hypo Group is still massively indebted at its former holding company, the German BayernLB. The loan will be due by the end of 2013.
December 3, 2011
Rising Finance Requirements for Austria
In 2012, the Austrian state has to take on significantly more debt than this year. The issued bond volume will grow by 30%.
December 3, 2011
Corruption in Austria Is Growing
Austria has lost six positions since 2005 and now only ranks 16 in Transparency International’s corruption index.
December 2, 2011
Austria to Issue More Bonds in 2012
Total issue volume will be € 27-30bn. At the end of November, Austria’s bond debt stood at € 162.9bn
December 2, 2011
Austria to Sell Nationalized Bank Kommunalkredit
The nationalized lender has to be sold by mid-2013. Finance Minister Fekter hopes for proceeds of € 500m.
November 29, 2011
Vienna Has the Best Living Standard
The Austrian capital defended its position as the city with the highest standard of living. It is followed by Zurich and Auckland.
November 29, 2011
Austria to Pay for Failing Kyoto
By 2014, Austria will have to pay penalties because of the missed Kyoto targets. Payments could amount up to € 1.0bn.
November 28, 2011
OECD: 2012 Brings Stagnation
The OECD forecasts only a 0.6% growth rate for Austria. The euro-zone will experience a recession.
November 28, 2011
Austrian Tourism Industry is Cautiously Optimistc
The Austrian Minister of Economic, Reinhold Mitterlehner considers that the tourism industry has learned to deal with an economic crisis.
November 28, 2011
Romania Protests Against Austria´s Banks
The Austrian Central Bank and the Financial Market Authority announced to oblige domestic banks to reduce their exposure in the CEE region. Romania fears a credit crunch.
November 28, 2011
Fast News Search
This category only
