Economic Policy

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

First European Gaia-X Community Event in Vienna

The European Association for Data and Cloud (AISBL) of the European Gaia-X Initiative, in collaboration with Gaia-X Hub Austria, hosted the first European Market-X Community Event at the Aula of the Sciences in Vienna. At this event, Market-X brings together stakeholders from different industries to shape the digital future of Europe.

March 19, 2023

Congo’s Foreign Minister Visited Vienna

Austrian Foreign Minister Alexander Schallenberg welcomed his Congolese counterpart Jean-Claude Gakosso to a meeting in Vienna. They discussed the economic relations between the two countries and Congo’s security issues.

March 16, 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

Ministers of German Speaking Countries in Vienna

The economic ministers of the German-speaking countries, namely from Germany, Switzerland, Austria, and Liechtenstein met in Vienna to discuss several economic measures from the past and for the future.

February 13, 2023

Austrian Government Reviews the Year 2022

Austrian Chancellor Karl Nehammer and Vice-Chancellor Werner Kogler made a review and concluded the year 2022 with a positive and determined outlook for the following year. The subjects of the past year were the recovery from the pandemic, the energy crisis, inflation and the Russian invasion of Ukraine.

December 25, 2022

Austrian Research Center Stresses Too Little Attention to Conflict Countries at COP27

The Austrian Centre for Peace research center calls for stronger cooperation as a solution for climate protection and peace. ACP emphasizes that at the COP27 (UN Climate Change Conference) the impact of the climate crisis in conflict countries was only touched upon marginally, although the pressure of the climate crisis on such countries is the highest.

November 22, 2022

What is the Alps-Adriatic Economic Network?

Since 2007, the Network of Chambers of Commerce, Industry, Crafts, Agriculture and Economy of the New Alpe Adria (NAAN) has been working to deepen economic relations. It now comprises - with the new addition of Bolzano - ten chambers from Austria, Italy, Slovenia and Croatia. According to the Austrian Chamber of Commerce, with one million member businesses, NAAN is making rapid progress toward becoming an EU Alps-Adriatic macroregion. Read more to find out about the project.

November 7, 2022

Weekly Briefing: 66th General Conference of the International Atomic Energy Agency

The Find out more about this week's developments. Diplomacy is working at full speed and is already preparing exciting glimpses of the fall. The IAEA is holding its 66th General Conference and there are new economic developments in Austria. Read about the latest developments in diplomacy in Vienna and Austria.

September 29, 2022

Austrian Foreign Minister Schallenberg in Serbia and Kosovo

Austrian foreign policy is always eager in the Balkans, especially in times of the Ukraine war. Austria's Foreign Minister Alexander Schallenberg traveled again to the Western Balkans region, more precisely to Serbia and Kosovo. The talks focused on the impact of the Russian war against Ukraine, the European perspective of the Western Balkan countries and the dialogue between Serbia and Kosovo.

June 14, 2022

EU Subcommittee of the Austrian Parliament Discussed on Future EU Economic Policies

The EU Subcommittee of the Austrian Parliament discussed future EU economic policy. The topics of artificial intelligence, digitalization, EU trade policy, the update of the EU industrial strategy of 2020 and the modernization of competition law.

April 20, 2022

Austria as a Pharma Industry Location: 50 Million Euro Investment Package for the Life Science Sector

In order to strengthen one of the most important economic sectors of the domestic economy, the pharmaceutical industry, the budget for the funding program "Austrian Life Sciences" was recently presented. Minister of Economics Margarethe Schramböck hopes that this will make Austria more attractive as a business location for life science companies.

April 1, 2022

Continued Strong Interdependence of Business between Russian, Ukrainian and Austrian Companies

Austrian businesses have established significant ties with those in Ukraine and Russia over the years. Read about the amount of business Austria does with each country and how the recent escalation of tensions could affect this.

February 23, 2022

EU - African Union Summit as Driver for Strengthened Economic Partnership between African Countries and Austria

Austria plans to use the upcoming European Union - African Union Summit as a means to strengthen the economic partnership between African countries and Austria. Read more about Austria's plans for strengthening cooperation with Africa.

February 15, 2022

Ukraine Crisis: Potential Impact of Russian Invasion on Ukrainian, Russian and EU Economies

The solution of the Russian aggression and violation of rights towards Ukraine, is of central importance for the world we want to live in. The Vienna Institute for International Economic Studies (WIIW) conducted a study on the potential economic impacts of a Russian invasion of Ukraine. Read their prediction for how an invasion would affect the economies of the EU, Russia, and Ukraine.

February 8, 2022 · Updated: February 11, 2022; 08:35

Economic Outlook for Austria until 2024

Strong economic rebound amid high uncertainty about impact of Covid-Omicron variant. Find out what the economic future holds for Austria until 2024.

February 2, 2022

Inflation in Austria: Government Approves Relief Package to Deal with Rising Energy Prices

Chancellor Nehammer and Vice-Chancellor Kogler held a summit with energy suppliers and assembled a relief package to help combat inflation. Learn what's in the relief package and who will benefit from it.

January 28, 2022

Kazakh Foreign Minister in Vienna Promises Investigation into the Unrest

Foreign Minister of Kazakhstan Muchtar Tileuberdi met with Foreign Minister Schallenberg in Vienna, and the pair discussed the recent protests and violence in Kazakhstan. Read more about their discussion, and watch their joint press conference.

January 20, 2022

"Golden Sunday" Returns: Austrian Non-Food Retailers Allowed to Remain Open on December 19

In an attempt to recoup some of the billions of euros retailers lost out on due to the lockdown in the middle of the holiday season, the Austrian government has announced that non-food retailers will be allowed to remain open on Sunday, December 19 for what is known as "Golden Sunday." Learn which stores the exception applies to and when you can do some last-minute Christmas shopping on Sunday.

December 17, 2021

Emirate of Qatar and Vienna to Cooperate in Cultural and Tourism Sectors

Vienna City Councilor Peter Hanke and Vienna Chamber of Commerce President Walter Ruck met with various government officials in Qatar to discuss further cooperation between Vienna and Qatar in the cultural and tourism sectors. Read about the visit and what, specifically, was discussed.

November 17, 2021

US Embassy: Visit of the Chargé d'affaires Strengthens Economic Ties between USA and Upper Austria

The Chargé d'affaires of the US Embassy in Vienna Mario Mesquita visited Linz and met with Upper Austrian Governor Thomas Stelzer and Voestalpine CEO Herbert Eibensteiner. Read about Mesquita's visit and what was discussed.

November 11, 2021

Linhart's Round of Visits to Central Asian Autocrats Was All about Deepening Economic Relations

Foreign Minister Linhart visited the Central Asian countries of Kyrgyzstan, Tajikistan, Uzbekistan, and Turkmenistan to strengthen economic relations. The foreign minister met various leaders and participated in multiple economic forums. Read about the details of his trip to Central Asia.

November 9, 2021

Strategic Partnership with United Arab Emirates in the Pipeline

On a trip to the United Arab Emirates (UAE), Austrian National Council President Wolfgang Sobotka expressed support for a strategic partnership between the two countries. Read about this new partnership that is currently in the works.

October 28, 2021

AMS to Provide Support as Companies Struggle to Fill Job Vacancies

Austria's public employment service (AMS) announced that it will be supporting companies with the "AMS Business Tour" initiative. Teams from the AMS will help companies in finding personnel, as the latest employment figures from the AMS show that three out of ten job vacancies currently cannot be filled even after three months of searching. Read more about this new initiative and some of the latest numbers from the AMS.

October 11, 2021

Importance of Economic Relations Between the United States and Austria

The American Chamber of Commerce in Austria (AmCham Austria) presented a new study on the importance of economic relations between the United States and Austria. AmCham also provided a position paper with five key recommendations to the Austrian Minister for Digital and Economic Affairs Dr. Margarete Schramböck and Secretary-General of the Austrian Foreign Ministry Peter Launsky-Tieffenthal. Read about the findings of the study and AmCham's recommendations.

August 23, 2021

Austrian Minister for Economics Met German, Swiss and Liechtensteiner Counterpart

At the Quadrilateral Meeting between the Ministers of Economy from Austria, Germany, Switzerland and Liechtenstein, the topics comprised the impact of the Covid-19 pandemic on national and international economies, global trade policy and digitalization in Europe's single market system.

March 3, 2021

Schramböck and Baldwin at International Research Conference

At the research conference hosted by the Research Center International Economics (FIW), Austria's Economics Minister Margarete Schramböck had the opportunity to take part in discussions with the star economist Richard Baldwin and a number of other important representatives of international economics research.

March 1, 2021

Brexit: Austria to Receive EUR 16.8 Million to Cushion Impact

To alleviate the likely negative effects of the United Kingdom leaving the European Union, the European Commission has set up a reserve, from which EU member states will receive funding. Austria is entitled to EUR 16.8 million, while other member states, which have closer trade links to the leaving party, will receive more.

January 15, 2021

Tyrol Lifts Coronavirus-Quarantine

Tyrol is still under massive criticism and threat of a class action lawsuit from Germany and some Scandinavian countries because the authorities in the Tyrolean ski resort of Ischgl took quarantine measures very late, although warnings from these countries had already been issued. Today Tyrol's Governor Günther Platter announced during a video press conference that Tyrol would end its self-isolation.

April 6, 2020

Austria: Green Light for Comprehensive Coronavirus Bill

The COVID 19 crisis management fund has been granted €4 billion. What specific measures are included in this package?

March 15, 2020 · Updated: March 15, 2020; 14:37

Austrian Province of Tyrol Orders Curfew

The province of Tyrol, which is particularly hard hit by the coronavirus pandemic, is imposing a curfew.

March 15, 2020

Coronavirus Crisis in Austria: Four Billion Euro Package for the Economy

The Austrian government today cancelled the budgetary "zero deficit" for 2020 and announced the provision of four billion euros for immediate measures.

March 14, 2020

Federation of Industries Warns Against Wrong Location Policy Decisions

In the context of the current election discussions, the Federation of Austrian Industries (Industriellenvereinigung) appeals to the political rationality of all parties with regard to location not to take short-sighted and ill-considered decisions.

September 20, 2019

Founder of Global Peter Drucker Forum Honored as Excellent Management-Ambassador

Dr. Richard Straub, who resides in Paris for more than two decades, received the Grand Decoration of Honour for Services to the Republic of Austria (Große Ehrenzeichen für Verdienste um die Republik Österreich) at the Austrian Embassy in Paris.

February 5, 2019

Austria: Struggling to Keep up with Economic Growth and Competitiveness

IV demands overhaul of funding policy by the government so that Austria will improve in international competitiveness.

October 1, 2013

Wifo: Economy Remains Competitive Despite High Wages

Head of Wifo (Austrian Institute for Economic Research), Karl Aiginger, calls for a change of views in economic policy as competitiveness is more than just low costs.

September 18, 2013

Serbia's Government Regards Economy as Priority Issue

"Solving economic problems is a priority of the reshuffled government"- Serbian Prime Minister.

September 5, 2013

Bulgarian Deputy PM: “They Want Social Justice“

In an interview with Austrian newspaper Standard, Bulgarian Justice Minister and Deputy Prime Minister Zinaida Zlatanova (40) talks about the reasons for the protest movement, planned reforms and critizism from abroad.

July 27, 2013

V4 Want Free Trade Zone Between EU and Japan

The Visegrad Four Group (V4), which consists of Poland, the Czech Republic, Slovakia and Hungary, support the creation of a free trade zone between the European Union and Japan.

June 17, 2013

Dacic to Promote for Serbian Economy in US

Serbia's Prime Minister plans economic trip to United States.

May 3, 2013

Czech Republic to Improve EU Relations?

Visits from high EU officials should herald the start of a new era in the relation between the Czech Republic and the EU.

May 3, 2013

Austrian Proposal for EU Growth and Innovation Fund

In-depth discussion at the General Affairs Council on the multi-annual financial framework of the EU. Austria pushes for more economizations.

May 30, 2012
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