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Weekly Briefing: Vaccination for Everyone in Austria
Austria has ended its drastic measures to contain Covid-19 and re-opened borders as well as restaurants, cultural establishments and alike. Vaccines will soon be available to everyone, even to teenagers. Find out more about this week's developments.
May 20, 2021
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European Commission Forecasts GDP Growth for Austria
In its spring forecast, the European Commission has issued GDP growth rates for all its member countries as well as for the EU as a whole and the euro area. Read more to find out the exact rates.
May 17, 2021
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Austria Sees Potential Global Economic Leadership
Only recently, the Austrian government has announced a comprehensive location strategy, which should enable Austria to position itself among global economic leaders in some particular segments.
May 10, 2021
How Austria Plans its Economic Recovery
The Austrian government has submitted its final plan for the European Reconstruction fund, in which projects for economic recovery are listed. These planned measures will receive funding of over EUR 3.5 billion by the EU. Find out what the areas of focus for the investments are.
May 5, 2021
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EC Supports 7 Austrian Projects to Boost Economic Growth
The European Commission (EC) will support seven Austrian projects under the Technical Support Instrument (TSI). In total 226 projects in all of the 27 EU Member States were approved to receive funding, which will attempt to design and implement national reforms to boost economic growth in the respective countries.
March 5, 2021
Austria's Economy Is Far Behind EU Average
According to the latest numbers issued by the EU's statistics office Eurostat, the gross domestic product of the EU fell by 0.6 percent in Q4 2020 compared to the third quarter of the same year. Austria, however, has performed the worst out of all EU member states and saw a GDP decline of 4.3 percent.
February 17, 2021
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Austria's and EU's GDP Forecast Gives Hope
In the EU winter forecast for the level of economic output in the near future, Austria's and the whole Euro area's GDPs are said to grow by almost 4 percent in 2021 and 2022. Although the economies declined in the fourth quarter of 2020 and first quarter of 2021 due to the impact of the second wave, the economic outlook is still promising for the remainder of 2021 and 2022.
February 12, 2021
WKO: Importance of Trade Agreements
The chairman of the Federal Board for Foreign Trade in the Austrian Federal Economic Chamber (WKO), Karl Pisec, underlines the importance of international trade agreements for the European Union as well as for Austria. As an example to show benefits of trade agreements, he uses the EU's agreement with the Mercosur states and the Regional Comprehensive Economic Partnership in Asia.
December 23, 2020
World Statistics Day 2020: New Economic Monitor Shows Austria's Economic Development
Statistics Austria has introduced a new economic monitor which shows Austria's economic development over time. Data is updated biweekly and will include more than 80 economic indicators across different sectors and industries. In addition to this monitor, Statistics Austria provides a Covid-19 data collection which focuses also on population, health and education.
October 19, 2020
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Eurogroup President Donohoe Met Blümel
New Eurogroup President Donohoe and Austrian Finance Minister Blümel met at a round table discussion on "Europe's Comeback". Topics were the strength of a common currency union and strategies on how to achieve the economic comeback.
September 9, 2020
WKO Secretary General: Labor Market Situation Improves, But Remains Great Challenge
The secretary general of Austria's Federal Chamber of Commerce WKO recognizes a slightly positive trend in the labor market but underlines the importance of ongoing and future economic measures.
September 7, 2020
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Economic Sentiment in Austria and the EU Brightened Further in August
Businesses and the population of the EU still have below-average economic sentiment although the expectations improved over the last month. The sharp decline due to Covid-19 is made up by about 60 % already.
August 31, 2020
Self-Sufficiency in COVID-19 Mask Production
A first step towards Austrian self-sufficiency in mask production for medical protective equipment was taken. In future, it should be possible to produce up to 500,000 corona protective masks of the "Made in Austria" brand every day.
April 8, 2020
Federal Chancellor: "The situation is still serious"
Austrian government presents details of the aid package designed to save jobs and businesses.
March 26, 2020
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Austrian Government Says It is Prepared to Pump Virtually Unlimited Money into Economy
The Federal Government announced today that an aid package of up to 38 billion euros is being prepared to deal with the consequences of the coronavirus.
March 18, 2020
Corona-Crisis: Greatest Danger since the Financial Crisis
The OECD is sounding the alarm about the coronavirus and warned of the possibility that global economic growth could be halved this year.
March 2, 2020
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Economic Growth: Austria Slightly Above EU Average
The Austrian economy is likely to grow by 1.5% in 2019. 1.2% growth is expected for the euro zone and 1.4% for the EU as a whole.
August 8, 2019
Austria Ranks Second Among All EU Countries in Investments Growth
Between 2007 and 2017, the ratio of investment to GDP decreased in 24 out of the 28 EU Member States. Apart from Austria, only Sweden and Germany have increased their investment to GDP ratio since 2007.
May 14, 2018
Austria's Economic Upturn will Continue in the First Half of 2018
The Austrian National Bank expects GDP growth of 0.8 percent for the first two quarters compared to the previous quarter. The economic momentum is unbroken.
February 22, 2018
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Boyden Partners Met in Vienna to Discuss Emerging Markets Strategies
The annual global Boyden conference took place in Vienna. Despite the current political crisis in Ukraine the headhunting company sees good prospects of Austrian enterprises and managers.
May 23, 2014
Sevelda: “Russia Still Crucial Market”
In the light of the close ties with regard to economic and energy relations with Russia Karl Sevelda, CEO of Raiffeisen Bank International (RBI) warns about the tightening of penalties against Russia.
May 23, 2014
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“Romania Can Never Become the China of Europe”
Stabilization in Central and Eastern Europe (CEE) is becoming stronger. However, the political crisis in Ukraine is causing a feeling of insecurity among the population.
May 15, 2014
Lithuania Locomotive for Baltic States
Among the three Baltic conomic growth saw the highest increase in Lithuania.
May 12, 2014
Fitch Upgrades Rating for Slovenia
Fitch Ratings has revised the Outlook on Slovenia's Long-term foreign and local currency Issuer Default Ratings (IDR) to Stable from Negative and affirmed the IDRs at 'BBB+'.
May 2, 2014
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Austria: Industrial Production with Growth Potential
Austrian industry continues to grow - but somewhat less dynamically than at the turn of the year.
April 30, 2014
EU Enlargement: A Success Story for Central Europe
Austria is one of the main beneficiaries of the EU enlargement of 2004.
April 30, 2014
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Polish Banking Sector: “Too Early for Recovery”
The Polish banking sector has to be patient for economic recovery to show on their results.
April 29, 2014
Slovenia: ”Everything Will Stand Still”
Due to the current political crisis the fear about devastating impacts on the Slovenian economy is high.
April 28, 2014
Serbia: New Government Taking Drastic Measures
New head of the Serbian government Aleksandar Vucic has ambitious plans to reform the state and restructure state finances.
April 28, 2014
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Struggling Insurance Industry
Despite favorable results last year the European insurance market has to face a number of adverse factors.
April 23, 2014
Austrians Cautiously Observant
Despite economic recovery the Austrian citizens are still cautiously observant.
April 22, 2014
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Serbia: Key Rate Kept Unchanged.
The NBS (National Bank of Serbia) decided to keep the policy rate unchanged as there is no threat of inflation.
April 22, 2014
Serbia: EU Negotiations Important for Reforms
According to Tanja Miscevic, chief negotiator in Serbia’s EU accession talks, the opening of the Chapters 23 and 24 are crucial for the reform process in the Western Balkan country.
April 22, 2014
Poland: Economic Upswing Endangered by Conflict in Ukraine
In general, Poland´s economic growth accelerates. However, the recent developments in Poland´s neighbor country are a substantial risk factor.
April 18, 2014
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Vienna Drops in “Global Cities Index”
Vienna drops three places. Regardless of the financial crisis the largest global financial centers in New York and London are still the cities with the biggest influence world-wide.
April 16, 2014
Poland: Excessive Deficit Procedure for Two More Years
The Polish government expects the EU Commission to cancel the Excessive Deficit Procedure in “less than two years” due to the measures applied so far the continuing of economic recovery.
April 16, 2014
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Industrial Location Austria Losing Attractiveness
Among other things, labor costs and energy prices are too high, according to the Austrian Federation of Industries.
April 16, 2014
Austria: RLB OÖ Rows Bank on Threat to Leave
Last year regional lender RLB OÖ (Raiffeisen Landesbank Oberösterreich), part of Raiffeisen group, saw a decline of six percent in its balance sheet totals while the operating results increased by almost three percent.
April 16, 2014
Slovakia as a Role Model?
In an interview with Austrian daily “Wirtschaftsblatt”, Tomas Malatinsky, Economy Minister of Slovakia, talked about budget discipline, investments and tax policy.
April 16, 2014
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Fricke: “Man Needs Relatively Little Bank”
Fricke, chief economist at the European Climate Foundation and author of “Wie viel Bank braucht der Mensch?" (How much bank does man need?)
April 15, 2014
Serbia: “Radical Measures” Needed to Tackle Grey Economy
Experts call for higher penalties to make tax evasion and gray economy less profitable and establish financial discipline.
April 14, 2014
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Slovenia: Head of NLB Throws in Towel
On Friday France Ahar, President of the supervisory board of the biggest lender of Slovenia, state-controlled NLB, handed in his resignation.
April 14, 2014
Vucic: “Not Afraid of Social Riots”
The future Prime Minister of Serbia underlined the necessity of reforms.
April 10, 2014
Poland: Growth Forecast Raised Again
The International Monetary Fund has raised the forcast of GDP growth in Poland.
April 9, 2014
IMF Upgrades Growth for Slovenia
In its latest report the International Monetary Fund has raised its projection for GDP growth in Slovenia.
April 9, 2014
Austria: Government Wants “Restrictive Budget Performance”
Today the Austrian government has decided upon a “restrictive budget performance.
April 8, 2014
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Fitch: Polish Rating Foundations Very Solid
As reported by news portal “Warsaw Voice”, rating agency Fitch considers the Polish credit rating foundations to be very solid.
April 8, 2014
Serbia: Effective Measures for Economy
The Serbian Chamber of Commerce considers the measures for economic growth “a very big thing”.
April 7, 2014
Poland: No Danger of Deflation
According to Marek Belka, governor of the National Bank of Poland (NBP), there is not threat of deflation.
April 7, 2014
Hungary: Clear Victory for Orban
Today, Hungary has held parliamentary elections. Despite controversial and radical reforms, Prime Minister Orban was confirmed.
April 6, 2014
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