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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
Leitl Urges to Invest in the Future
Despite consolidation needs, the government has to invest more in education, research and innovation, says the President of the WKÖ.
February 4, 2011
Below Average Privatization in Austria, according to ECEG
Regarding privatizations, Austria is still far behind, according to the European Coalition for Economic Growth (ECEG).
February 4, 2011
Manufacturing Industry on the Rise
The economic barometer of the Federation of Austrian Industries (IV) grows. Production increase and stable employment are expected.
February 4, 2011
Mitterlehner Wishes to Push SMEs and Venture Capital
The Austrian Minister of Economy launches an initiative with the aim of doubling the venture capital of Austrian companies to € 400m.
February 4, 2011
The Westbahn Complains Because of ÖBB-Subsidies
In December, the new “Westbahn” (Western Railway) will start competing with the ÖBB (Austrian state railways) which are allegedly being privileged by the government.
February 3, 2011
Industrial Association: Internal Solution for Succession
After the departure of Markus Beyrer, Christoph Neumayer as Secretary General and Peter Koren will lead the Austrian Industrial Association (IV).
February 3, 2011
Leitl Demands Support for Brenner Tunnel
The President of the Austrian Economic Chamber considers the Brenner Tunnel infrastructure project as crucial for the business location Austria.
February 2, 2011
ÖIAG: Markus Beyrer is the New Chairman
The so far Secretary General of the Industriellenvereinigung (Industrial Federation), Markus Beyrer, is Peter Michaelis’s successor on the board of the ÖIAG.
February 2, 2011
Declining Unemployment in Austria
Uunemployment could be reduced by 4.3% even in the traditionally for the labor market difficult winter months.
February 2, 2011
Austrian Retail Trade Accelerates Economic Upward Trend
In 2010, the Austrian retail trade rose by 4.0%. Thus, this figure represents the highest retail trade growth since the 1990s.
February 2, 2011
Austria's Credit Industry Appeals to the Constitutional Court
The price gains tax introduced as of January 1, 2011 encounters legal resistance. The Banking Division of the Chamber of Commerce announced a complaint of unconstitutionality.
February 2, 2011
Innovativeness in Austria Drops
In the European comparison, Austria’s innovativeness is dropping and is presently located only in the upper mid-range.
February 2, 2011
Austria's Budget Deficit is at 4.1%
Although the budget deficit is lower than expected, but the official national debt could increase considerably due to the ÖBB.
February 1, 2011
Skylink: Judicial Investigations are Presently being Conducted
The final report of the Audit Court on the Vienna International Airport Skylink project has been submitted. Criticism is devastating. Criminal investigations are starting.
February 1, 2011
Up to 150,000 Insolvent People in Austria
According to the Kreditschutzverband (KSV, Credit Protection Association 9,028 people were forced into personal bankruptcy last year. The number of people at risk is many times higher.
January 29, 2011
Hope for Austria's Photovoltaic Industry
The development of alternative energy sources is being pushed by additional funding. EVN is also promoting alternative energies.
January 28, 2011
Leitl Welcomes Medvedev's Idea for a European-Russian Economic Area
Closer cooperation between the EU and Russia would "stabilize economic and social development". Austria's foreign trade with Russia is flourishing.
January 28, 2011
U.S. Embassy on Hypo Group: "Mini-empire in the Balkans"
New Wikileaks documents indicate that the U.S. Embassy analyzed the symbiosis between the Austrian financial and political scene.
January 27, 2011
WKÖ Celebrates 40 years of Diplomatic Relations between Austria and China
The Austrian Economic Chamber stresses the relevance of China for Austria's foreign trade in the context of the anniversary.
January 27, 2011
Demand for Elimination of the ÖIAG
IAs part of the succession process for the CEO position at the Austrian industrial holding (ÖIAG) political representatives are increasingly imposing conditions.
January 27, 2011
Austria's Energy Self-sufficiency until 2050
The Minister for the Environment, Nikolaus Berlakovich presents a study on the Austrian energy supply. Self-sufficiency until 2050 is feasible.
January 27, 2011
Austrian Inflation to be well above 2% in 2011
Temporary price-drivers of fuels, commodities as well as the budget consolidation spurring inflation on, but lack of cyclical inflationary pressures.
January 27, 2011
Austria's Pension Funds: 6.61% yield in 2010
Austria's pension funds generated an income of around € 800m in 2010. The annual performance is above the long-term average.
January 27, 2011
Austria: The Gateway to Central Asia?
Leading Austrian politicians intend to attract attention at the World Economic Forum to what promises to be a new target region.
January 26, 2011
Bank Assistance is Lucrative for the State
Contrary to fears, revenues of the bank rescue package more than double the refinancing costs.
January 26, 2011
Shortage of Skilled Labor in Medium-sized Enterprises
According to a report by Ernst & Young, the growth of two out of every three Austrian companies is hindered by the lack of qualified personal.
January 26, 2011
Budget-saving Measures in Austria are Insufficient
According to the WIFO, budget deficit and public debt are lower than the EU average; central potential savings have been neglected however.
January 26, 2011
ÖIAG: Industrialist Beyrer is Favorite
In the discussion about the succession for the state holding company OIAG, the Secretary General of the IV (Federation of Austrian Industries), Markus Beyrer, is a favorite.
January 25, 2011
Germany: Largest Investor in Austria
Based on the number of new companies settling in Austria, Germany is the largest investor. More than 40% of the new arrivals come from the northern neighbor.
January 25, 2011
Austria's Growth Remains Dependent on Exports
The Austrian GDP will grow in real terms, according to WIFO, at an annual average of 2.2% per year between 2011-2015. The unemployment rate is expected to stagnate.
January 25, 2011
"Conversations about the Future" between Austrian and Canadian IT companies
The Austrian IT industry, motivated by Canadian success models, intends to strengthen its role in the domestic economy significantly.
January 22, 2011
EU: New Early Warning System Against Financial Market Risks
Two Austrian officials point out the relevance of the new institution, which will particularly benefit Austria.
January 21, 2011
Pricing Agreements in Austria's Transport Industry
The Austrian Federal Competition Authority has ncovered two shipping cartels involving several well-known carriers.
January 21, 2011
12% of Austrian Population at Risk of Poverty
Europe 2020 strategy against risk-of-poverty and exclusion: Every sixth person in Austria is in target population.
January 21, 2011
Viennese Economic Chamber Demands Tax Relief for SMEs
The President of the Viennese Economic Chamber, Brigitte Jank, presents a three-stage relief model for small and medium-sized enterprises.
January 20, 2011
Pröll is Against the Extension of the Euro Shield
The Austrian Finance Minister, Josef Pröll (ÖVP), called for stricter budget discipline and pronounces himself against a more extensive rescue shield
January 20, 2011
WKÖ Expects further Rise in Energy Prices
Due to the economic recovery, the Austrian Economic Chamber forsees further increases in oil prices. However, there also exists some saving potential.
January 20, 2011
Tax Treaty between Austria and Germany
Austria and Germany sign a revision protocol on double taxation agreements to implement the OECD standards of transparency and effective exchange of information.
January 19, 2011
Demand to Unburden Business Founders
The Austrian Economic Chamber demands the creation of tax and corporate law unburdening for company founders.
January 19, 2011
Reform Backlog Prevents Austria Being a Success Model
The chairman of the WIFO, Karl Aiginger considers that Austria’s future capital has been gambled away because of lack of reforms. The EU, however, is "not on track" either.
January 19, 2011
Hungary: Calls for Boycotts against Foreign Companies in Hungary
A Hungarian initiative demands that 13 foreign companies be boycotted, including Austrian OMV
January 18, 2011
OMV Pulls its Staff out of Tunisia
Due to the recent developments in Tunisia, the Austrian OMV pulls back to a large extent. The cardboard manufacturer Mayr-Melnhof stays on.
January 18, 2011
Federation of Trade Unions Calls for "Tax Justice"
A new debate is sparking off in Austria, and possibly also a tax reform. The Gewerkschaftsbund (ÖGB, Federation of Trade Unions) wants workers to be tax-unburdened.
January 18, 2011
Bank Taxes: „Job Cuts or Price Increase”
According to Michael Ikrath, bank representative of the “Sparkassen”, the new charges for Austrian banks are the highest in Europe.
January 17, 2011
Treichl: Massive Criticism on Austrian Government
Andreas Treichl, CEO of Erste Group criticizes the Austrian Government for its fiscal and structural policy. 2011 would be the last chance for reforms.
January 16, 2011
Austria's wind Energy Expands
After years of stagnation, capacities for wind energy are now being expanded again. IG Windkraft considers that subsidies are too low.
January 15, 2011
AMS Expects Marked Relaxation of the Labor Market by 2013
The Arbeitsmarktservice (AMS, Labor Market Service) foresees a significant increase in labor supply on the Austrian labor market. Unemployment will stagnate.
January 15, 2011
Increase of Payment Difficulties for Austria’s Private Households
Estimated 270,000 Austrian households are currently facing financial difficulties and are not able to serve credit sufficiently.
January 14, 2011
New Perspectives for Nabucco
The European Commission wants to commit Azerbaijan to supply gas to Europe. This is expected to be done via the Nabucco pipeline.
January 14, 2011
Austria's Competitiveness Increases Slightly
Austria rose one place, to the 21st, in the ranking of the most liberal economies.
January 14, 2011
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