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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
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
Slow upward trend in Austria's trade and handicrafts
For 2010, KMU-Forschung Austria expects slight sales increases. Support for research projects will be supported in future.
January 13, 2011
Harsh Criticism of Government by Junge Industrie
Junge Industrie (Young Industry) an interface organization of the Industriellenvereinigung (Industrialists’ Federation) criticizes particularly the pension policy.
January 13, 2011
WKÖ endorses policy of the European Commission
The Austrian Economic Chamber welcomes the focus of the EU Commission on structural reforms, consolidation of public finances and competitiveness.
January 13, 2011
Strong Merger Growth in Austria
The number of mergers has increased in 2010 by 12%. The Federal Competition Commission reported 238 cases.
January 12, 2011
Insolvencies decline in Austria
Corporate insolvency proceedings fall by 5.9%, affecting more than 85,000 creditors. Creditreform considers there is still potential for lower figures.
January 11, 2011
New Controversy over the Hypo Group
According to the investigators, there would be no connection between the Austrian bank and Gribkowsky, the former member of the board of BayernLB
January 10, 2011
Austrian Tourism Operators Continue to Invest Heavily
Investment in the tourism business is estimated at € 5.0bn for 2011. The previous year’s level will therefore be maintained.
January 10, 2011
Austrian Tobacco Industry Fears Cigarette Smuggling
According to the presently Japanese Austria Tabak, 20% of cigarettes are already smuggled. The tobacco tax is expected to increase this trend even more.
January 10, 2011
Recovery in Austria´s Labor Market Continues
The domestic labor market´s data for 2010 were better than expected. The number of job-seekers declined by 3.7%
January 8, 2011
Austrian SME as a Source of Innovation
Austria's small and medium enterprises are, according to the Small and Medium-Sized Business report, the main driver for innovations.
January 7, 2011
Demands for Financial Transactions Tax
The Chairman of the Austrian Provincial Governors’ Conference, Josef Pühringer, demands the introduction of a pan-European financial transactions tax.
January 7, 2011
FMA Prohibits Speculative Elements in Savings Accounts
The Austrian Financial Market Authority FMA specifies the characteristics of savings certificates. The traditional savings account is to remain non-speculative
January 5, 2011
Downward Trend of Austrian Unemployment
Unemployment trend: Flash estimates for the fourth quarter of 2010 show an unemployment rate of 4.1%.
January 5, 2011
Demographic Development: a Future Challenge for Austria
The expected demographic development will increase expenditure in geriatric care in Austria.
January 5, 2011
Black Economy is still Difficult to Control in Austria
About 14% of the economic product evades the Treasury in the Austrian economy, but experts say the trend is declining again.
January 5, 2011
Hypo Group: Little Enlightment Expected from Grasser and Berlin
The Chairman of the Inquiry Committee on the Hypo Group expects little gain of information by the summons of Karl-Heinz Grasser and Tilo Berlin.
January 4, 2011
R&D: High Activities of Austrian Firms with Foreign Co-Investors
The OECD publishes its Science, Technology and Industry Outlook 2010 for Austria. 23% of R&D expenses are funded from abroad.
January 4, 2011
Social Justice shows High Levels in Austria
The Bertelsmann Foundation released a study on social justice issues in OECD countries. Austria is located among the top third.
January 4, 2011
Special Tax: Hungary Under Fire
Especially the Austrian economy criticizes the Hungarian special tax on large companies. The EU Commission has already started an investigation.
January 4, 2011
Leitl Urges Implementation of Reform Plans
The President of the Austrian Economic Chamber shows himself pleased by the economic data 2010 and urges the continuation of educational and administrative reforms.
January 3, 2011
New Responsibilities for the Financial Market Authority
As of 2011, the Austrian Financial Market Authority (FMA) has to face new challenges. The focus is on the fight against money laundering.
January 3, 2011
Increase of Debts Slows Down at Asfinag
According to the Austrian motorway company Asfinag, austerity is slowly starting to show results.
January 3, 2011
Experts: No Failures in the Austrian Labor Market
The last hurdles for the new EU-members to enter the Austrian labor market will fall in May 2011. However, even the unions has no concerns.
January 3, 2011
13 CEOs Call For Sanctions Against Hungary
Because of the new taxes introduced by the Hungarian government, a group of prominent European CEOs call for EU-sanctions.
January 2, 2011
Austrian Unemployment Further Declines
Unemployment numbers go down specifically in the production sector. Long-term unemployment also declines over average.
January 2, 2011
Austria's Minister of Social Affairs Wants to Extend the Years of Employment
Rudolf Hundstorfer wants to see older workers work longer, and is trying to get the consensus of businesses.
December 31, 2010
VBI Romania is a Source of Worries for ÖVAG
Volksbank International (VBI) is to be sold by the Austrian Volksbanken Group. The Romanian subsidiary keeps the group from doing so.
December 31, 2010
State Secretary for Finance: Euro-bonds as a Medium-term Strategy
The Austrian State Secretary for Finance, Andreas Schieder, does not discard Euro-bonds, against the majority view of German and Austrian politicians.
December 31, 2010
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