Economic Development

30 Years of the WKÖ Export Prize: Austrian Companies Honored for Top Performance

Austria's export industry has achieved impressive successes over the last 30 years. EU accession in 1994 played a key role in this, paving the way for a more than five-fold increase in goods exports. Despite challenging framework conditions, the 63,700 domestic export companies achieved a record value of 200 billion euros in goods exports and 83 billion euros in services exports last year.

Yesterday

Ukraine's Economic Potential: Analysis by the Vienna Institute for International Economic Studies

In a new comprehensive study by the Vienna Institute for International Economic Studies (wiiw) and the Bertelsmann Foundation, Ukraine is recognized as having enormous economic potential.

June 12, 2024

Strengthening Economic Relations Between Austria and Saudi Arabia

The Saudi Minister of Economy, Faisal Al-Ibrahim, visited Vienna and met with the Austrian Federal Minister of Labor and Economy, Martin Kocher. A Memorandum of Understanding (MoU) was signed as part of the 9th Saudi-Austrian Joint Committee, which aims to strengthen further and diversify economic relations between the two countries.

June 5, 2024

Inflation Outlook for Austria Shows Significant Improvement

The Austrian National Bank's (OeNB) latest inflation forecast gives cause for cautious optimism for the Austrian economy. Inflation has decreased and economic growth has also returned since the start of the year, albeit weakly.

March 13, 2024

Viennese International Economic Institute: Growth in Eastern Europe Weaker than Expected

The Central and Eastern European EU member states recorded weaker economic growth in the first quarter of this year, according to a recent study by the Vienna Institute for International Economic Studies (WIIW).

July 6, 2023

Austrian National Bank Publishes Macroeconomic Forecast for 2023 to 2025

According to the published forecast of the Oesterreichische Nationalbank (OeNB), the Austrian economy is expected to pick up speed in the second half of 2023, with GDP growing by 0.5 percent in 2023. Accelerated growth of 1.7 percent is forecast for 2024. Although HICP inflation will fall steadily after the highs at the beginning of the year, it will still be above average at 2.9 percent in 2025.

June 18, 2023

Austrian National Bank: Monetary Policy Strategies Must Act

In his speech at the opening of this year's Economics Conference, Austria's National Bank - Governor Robert Holzmann shed light on the importance of a robust and resilient monetary policy in uncertain times. Given the recent financial market turmoil, he stressed that monetary policy strategies must not remain empty words and that the instruments must work.

May 24, 2023

Tax Burden in Austria Still High According to OECD

According to a study conducted by the Organization for Economic Cooperation and Development (OECD), taxes and duties for Austrian employees continue to be high in international comparison.

April 25, 2023

President Van der Bellen Visited his Albanian Counterpart in Tirana

Austrian Federal President Alexander Van der Bellen started his official Western Balkans visits on Sunday. The first country he visited was Albania, where he met with his counterpart Bajram Begaj. They discussed the ongoing reforms in Albania and Austria supporting those reforms.

March 27, 2023

OPEC Fund Approves New Financing to Fulfill its Climate Action Plan

The OPEC Fund for International Development (OFID) approved more than $300 million in new funding in the first quarter of 2023, reflecting the institution's commitment to fulfilling its Climate Action Plan. Three of the four projects approved by the OPEC Fund's Governing Board directly support climate finance.

March 15, 2023

Minister Schallenberg Welcomed Bolivias Vice President David Choquehuanca

Austrian Foreign Minister Alexander Schallenberg has met with Bolivian Vice President David Choquehuanca. Together they talked about the good relations between the two countries and the consequences of the Russian aggression on Ukraine.

March 14, 2023

Minister Schallenberg Shows Solidarity for LDC Countries at Doha Conference

Austrian Foreign Minister Alexander Schallenberg attended the Least Development Countries (LDC) in Doha. There, he expressed solidarity for the LDCs and reassured Austria’s support for the countries.

March 6, 2023

What is the Houskapreis? 13 Projects Nominated for the B&C Private Foundation Research Award

The nominated projects for the Houskapreis 2023, the research prize of the B&C Private Foundation, have been determined. But what is the renowned Austrian Houska Prize all about?

March 6, 2023

New Funding for Economic Transformation in Austria

The Ministry of Labor and Economic Affairs (BMAW) has announced a new funding track under the Climate and Transformation Offensive. The Austrian Research Promotion Agency (FFG) supports the Austrian economy in the transformation and the BMAW provides €300 million for research funding until 2026.

March 1, 2023

Romanian Delegation Searching for a Solution in Vienna

A Romanian delegation has arrived in Vienna to search for the solution for Austria’s Schengen Veto Block. Part of the delegation was also Romania’s ex Foreign Minister Titus Corlățean.

February 27, 2023

North Macedonia Takes Over OSCE Chair for 2023

From January 1, 2023, North Macedonia takes over the OSCE Chair. In addition to the focus on the crisis regions and above all the military aggression against Ukraine, the country's priorities as chairman will be the re-affirmation of the benefits of the OSCE and the restoration of dialogue and trust.

January 2, 2023 · Updated: January 20, 2023; 12:00
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