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Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria


Greenpeace, vida and EVN: "Austria's Future in Energy is Renewable"

The switch to clean energy is possible by 2050, according to a current IHS study. It is to be achieved by halving the demand for energy.
April 30, 2011


Austria's Deficit in 2011 at 3.9 Percent

Despite the economic recovery, the debt will increase significantly again in 2011. The consolidation will take place from 2013 onwards.
April 29, 2011


Austrian Educational Level Rises

Educational level of young people aged 15 to 34 compared with their parents: Trend towards higher education.
April 28, 2011


Lending Behavior of Banks Remains Stable

The credit policy of Austrian banks remained stable for the third year running in the first quarter of 2011 and it is also expected to remain unchanged in the second quarter of 2011.
April 28, 2011


"Austria has Lost its Chance"

The labor market opening of Austria for the more recent EU member states comes too late, according to the manufacturing industry.
April 27, 2011


Lower Austria Seeks Airport Privatization

Lower Austrian Governor Erwin Pröll (ÖVP) intends to sell the 20% share of Vienna International Airport. The city of Vienna is not pleased at all.
April 23, 2011


Austrian Government Reshuffle has been Completed

The resignation of Josef Pröll triggered a reshuffle in the ÖVP. Most of the positions have been filled by now.
April 22, 2011


Herbst’s Withdrawal is Imminent

The CEO of Vienna International Airport, Christoph Herbst, should be about to resign. He is considered to be seeking a position at the Constitutional Court.
April 22, 2011


More Unemployed are Looking for Full-Time Jobs Than at the Start of the Crisis

The Austrian Chamber of Labor criticizes that despite the economic boom there are less full-time jobs available than before the economic crisis.
April 21, 2011


Fierce Criticism of Austria's Energy Policy

Anschober (Greens): "The Minister of Economy insists on the worst promotion policy of green electricity in Europe: this is hostile to the business and labor market"
April 21, 2011


Research Undertaken by Enterprises is Growing Again

An increase in research expenditure of 5% is expected for 2011. The expenditure should amount to € 8.3bn this year.
April 20, 2011


Rethinking of Health Policy Required

Junge Wirtschaft (Young Business) demands more economic incentives for healthy lifestyles for employees. This should allow an increase in retirement age.
April 19, 2011


Bad Image for Tourism-Related Professions

Austria's tourism industry workers are dissatisfied with their jobs because of relatively low pay and bad working conditions.
April 19, 2011


Austrian Research Intensity Expected to be 2.79% of GDP in 2011

According to an estimate of Statistics Austria, for the first time presumably more than €8 billion will be spent on research and experimental development (R&D) in 2011.
April 19, 2011


Maria Fekter is the New Finance Minister

As part of the changes in the ÖVP government team, Minister for Internal Affairs Maria Fekter changes over to the more prestigious Ministry of Finance
April 16, 2011


Financial Problems in Austrian Municipalities

The revenue of Austrian municipalities should not be fall further in 2011, however, new expenditures will be caused by additional competences.
April 16, 2011


"Austria Has a Historical Chance to Become Europe’s Logistics Hub"

Sources from the transport industry consider that Austria offers potentials, mainly in the Danube and rail traffic.
April 16, 2011


Founding conference of the “CESEE Insurance Supervision Initiative” in Vienna

The “CESEE Insurance Supervision Initiative” is holding its founding conference today and tomorrow in Vienna.
April 16, 2011


Austria Fell for the First Time in the International Property Rights Index

The IPRI compares 129 different countries for their economic benefits in strong protection of land, intellectual property and other private property.
April 15, 2011


Spindelegger New Vice-Chancellor and Head of ÖVP

Michael Spindelegger succeeds Josef Pröll as leader of the conservative party and Vice-Chancellor. Who will be in charge of the Minister of Finance, is still not clear.
April 15, 2011


ÖBB Promote Construction of the Brenner Tunnel

After the ÖBB detached themselves from the financing of the Brenner tunnel in February, an agreement was reached with the Ministry of Finance.
April 14, 2011


Electric Mobility as a Topic of the Future for Domestic Enterprises

Austria's top politicians are expecting a high potential for Austria's economic landscape on occasion of the opening of the EL-MOTION congress.
April 14, 2011


Vice-Chancellor Pröll Resigns

The Minister of Finance and Vice-Chancelor of Austria, Josef Pröll, decides to leave the political arena.
April 13, 2011


No Rush Expected on the Labor Market after the End of the Transitional Periods

After 30 April 2011, an additional access to the Austrian labor market of about 11,500-16,500 people annually from Hungary, the Czech Republic and Slovakia is expected.
April 12, 2011


Hundstorfer and Leitl Promote Increase in Retirement Age

The Austrian Minister of Social Affairs as well as the Head of WKÖ (Austrian Economic Chamber, Christoph Leitl, want to reduce public payments for pensions.
April 11, 2011


Styria: "The crisis is over"

The Austrian Institute of Economic Research (WIFO) considers that the federal province hit extremely hard by the economic crisis has resumed the upward trend.
April 9, 2011


ÖVAG Participates in the Stress Test

Unlike last year, the Austrian Volksbanken group (ÖVAG) is to participate in the EU-wide stress testing of banks. 5% equity is assumed as lower limit.
April 9, 2011


ÖIAG Provides Increased Revenue for the Sate

The Austrian state holding company will deliver about 250mby means of higher dividend payments to its owner, the Republic of Austria.
April 8, 2011


Leitl: "Austria is Very Well Positioned for the Opening of the Labor Market"

Experts estimate immigration potential to be between 15,000 to 25,000 people; gains from migration for Austria, as from 1 May, about € 900m.
April 8, 2011


Andritz Defends Itself against the Greens

The Austrian technology group rejects vehemently the accusation of the Greens concerning the alleged sale of nuclear technology to Pakistan.
April 6, 2011


Tough Collective Bargaining in the Electrical Industry

The second round of collective bargaining in Austria's electrical industry had to be interrupted. About 50,000 workers are affected.
April 6, 2011


Renewable Energy as a Sustainable "Job Driver"

For the President of the Chamber of Agriculture (LK, Landeswirtschaftskammer Österreich), Gerhard Wlodkowski, renewable energies secure an edge on technology and high-quality jobs.
April 6, 2011


Austrian Trade Union Continues to Lose Members

The Austrian Trade Union Federation (ÖGB) registered a loss of 11,000 members last year. The decline showed a slight reduction.
April 6, 2011


Basel III: Leitl Demands Adaptation for SMEs

The implementation of Basel III should take business financing into account, for which reason national support measures are necessary for capital strengthening of small businesses.
April 5, 2011


Mitterlehner PromotesTourism Strategy for Austria

The Minister of Economy is working on a new alliance of federal and provincial governments in order to focus on marketing, subsidies and innovations for the tourism industry.
April 2, 2011


Mitterlehner: New Modernization Partnership Concluded with Russia

Minister of Economy: Investment opportunities for companies boost exports to Russia: innovations and new technologies as growth drivers.
April 1, 2011


Leitl Demands Reduction of Public Debt

The President of the Austrian Economic Chamber sees potential for efficiency in the administration, as well as in the health and pension system
April 1, 2011


Austrians are among the European Leaders in Pension Duration

Austrians currently spend an average of over 23 years in retirement; this is about twice as long as in 1970. Austria ranks second in Europe in this respect.
March 31, 2011


Mitterlehner Intends to Expand Economic Relations with Malaysia

A work meeting was held in Vienna with the Malaysian counterpart. New export opportunities exist primarily through eco-innovation.
March 30, 2011


Official start of construction of Austria's largest building project

The start of construction of the controversial Koralm tunnel, a railway connection between Carinthia and Styria, has occurred. The 20km long tunnel will be completed in 2022.
March 29, 2011


Manufacturing Industry on Pensions: Structural Reform has to be Adressed Urgently

Manufacturing industry representatives were surprised at ÖGB statements. Instead of early retirements, more funds should be freed for future investments.
March 26, 2011


Economy: "South Axis” Demands Recovery Program

Styria and Carinthia are at a disadvantage concerning infrastructure compared with other provinces, was the criticism of the Economic Chambers of the "strong south".
March 25, 2011


Leitl Promotes Green Electricity Amendment

The Economic Chamber President welcomes the initiative of the Minister of Economy: green electricity is promoted, reduced the backlog of planned investments.
March 24, 2011 · Updated: March 24, 2011; 01:34


Collective Contracts: Wage Increase of 2.95% for 130,000 Construction Workers

In the current collective negotiation rounds, the construction union managed to get the so far highest wage increase. The paper-manufacturing industry agreed on an increase of 2.4%.
March 24, 2011 · Updated: March 24, 2011; 00:31


No Sale of ÖBB-Power Plants

The proposal that the Austrian Federal Railways sell its assets rather than increase its capital meets with vehement rejection.
March 23, 2011


Manufacturing Industry Sharply Criticizes the Union

Employees' proposals are not very productive, the Austrian Industrial Association says. There is no shift from wages toward corporate profits.
March 22, 2011


WKÖ: No EU Interference in Tariff Negotiations

The President of the Austrian Economic Chamber expects no interference from Brussels in domestic collective agreement negotiations.
March 22, 2011


Austrian National Bank Expects Tougher "Stress Tests"

The EU-wide bank stress tests planned for 2012 should turn out to be more rigorous, according to the Oesterreichische Nationalbank (OeNB).
March 19, 2011


Young Industry on Pensions: Failure of Politicians is "Evidence of Incapacity"

Mitterbauer said: "Austria continues to be a record holder for early retirement, despite the massive and long-term need for action." Inaction is "an affront to the younger generations".
March 19, 2011


Tough Negotiations Epected in Austria's Electrical Industry

Collective agreement negotiations for about 50,000 workers in the electrical industry start today.
March 18, 2011