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Between Fiscal Discipline and a Wave of Bankruptcies in Austria: Finance Minister Marterbauer Slows Down Ahead of Government Retreat
Before the start of the government retreat, Finance Minister Markus Marterbauer (SPÖ) drew a clear red line. Despite a historic record year for corporate insolvencies, he warns against “expensive wishes” from the business community. While the industry is insisting on relief, the Ministry of Finance is focusing on targeted structural support rather than broad tax cuts.
January 12, 2026
Austria's Economy: Once Again Bringing Up the Rear in EU Growth
Austria once again ranks among the bottom performers in the European Union in terms of economic development in 2026. The EU autumn economic forecast, presented in Brussels, predicts only 0.9 percent growth in gross domestic product (GDP) for the Alpine republic, the third-lowest figure among all EU countries. Only Ireland (+0.2 percent) and Italy (+0.8 percent) are expected to perform worse.
November 17, 2025
Finance Minister Marterbauer optimistic: 2026 Budget Target of 4.2 Percent Deficit Remains in Place
Despite turbulence in local government, Austria is sticking to its budget target for 2026. At a press conference yesterday, Finance Minister Markus Marterbauer (SPÖ) expressed optimism that the overall government deficit would be 4.2 percent of gross domestic product (GDP), as agreed with the EU.
October 16, 2025
Austria's Budget Deficit One Billion Higher Than Expected
The Austrian economy faces far-reaching challenges: while the overall government budget deficit for 2025 is forecast to be one billion euros higher than originally assumed, massive bankruptcies, including that of Süba AG and the Höhrhan Group, are shaking the real estate and automotive supply industries.
October 5, 2025
Austria's Public Education Expenditure in the Lower Middle Range of the EU
A report published today by the European Commission entitled “Investing in Education 2025” shows that public investment in education in the European Union is increasing again, but has not yet reached pre-COVID-19 pandemic levels.
August 27, 2025
Economic Recovery According to WIFO Still a Long Way Off in Austria
While the economy in the eurozone has largely stabilized, Austria remains in a phase of stagnation, according to the latest economic report from the Austrian Institute of Economic Research (WIFO). Domestic growth is stagnating, the labor market is weakening, and inflation is rising again more sharply. Industry in particular is in a prolonged recession, while only public services are showing momentum.
August 11, 2025
Human Rights in Austria: NGOs Make 159 Demands on the Government
According to numerous non-governmental organizations (NGOs), the human rights situation in Austria continues to leave much to be desired. In the run-up to the United Nations' Universal Periodic Review (UPR), more than 300 civil society organizations issued a joint statement addressing an impressive 159 demands to the Austrian government.
July 14, 2025
EU Initiates Deficit Procedure Against Austria: Finance Minister Marterbauer Remains Confident
The European Union has officially initiated an excessive deficit procedure against Austria. This step, based on a recommendation by the European Commission, was decided at a meeting of EU finance ministers in Brussels. The reason for the procedure is that Austria's budget deficit, at 4.7 percent of GDP last year and a planned 4.5 percent this year, is significantly above the 3 percent limit set in the Maastricht criteria.
July 10, 2025
Austria's Economy: End of Recession in Sight, but Recovery Remains Fragile
After two years of recession, a turning point appears to be on the horizon for the Austrian economy. This is according to leading economic research institutes WIFO (Austrian Institute of Economic Research) and IHS (Institute for Advanced Studies), which have raised their forecasts for 2025 and now expect economic output to stagnate or grow slightly. Nevertheless, both institutes warn of ongoing risks and only a modest recovery.
June 26, 2025
EU Commission Recommends Deficit Procedure Against Austria
The European Commission has formally recommended initiating EU deficit proceedings against Austria. This step, which is to be finalized at a meeting of the Council of Economic and Finance Ministers in Brussels on July 8, follows Austria's exceeding the deficit limit set out in the Maastricht criteria.
June 25, 2025
Wiiw Forecast: Central and Eastern Europe Remain on Solid Growth Path Despite Trump’s Tariffs
Despite mounting global trade tensions, Central, Eastern, and Southeastern Europe (CESEE) economies are set to maintain strong growth in 2025, according to the latest Spring Forecast published by the Vienna Institute for International Economic Studies (wiiw). The report highlights the region’s resilience in the face of U.S. President Donald Trump’s protectionist policies and broader global uncertainties.
April 29, 2025
Taxes Rising, Deficit Growing: Austria Faces EU Criminal Proceedings
Austria is threatened with EU deficit proceedings - at 4.7 percent of GDP, the budget deficit is well above the Maastricht limit. To counteract this, the federal government is taking the first noticeable steps - above all, tax increases on tobacco, betting, e-vehicles, and court fees. However, experts warn that the road to budget consolidation is rocky and politically explosive.
April 1, 2025
Austria's Budget Crisis: Between Austerity Measures and Deficit Procedures
The Austrian government is facing one of the biggest financial challenges in recent years: the budget deficit, originally estimated at 6.4 billion euros, has almost doubled according to current forecasts and could reach up to twelve billion euros. This dramatic development forces the coalition of ÖVP, SPÖ, and NEOS to rethink their austerity plans and possibly face an EU deficit procedure.
March 31, 2025
Deficit Forecast for 2024 Rises to 3.3 %: Austria Facing Economic Challenges
The Ministry of Finance has raised its deficit forecast for the 2024 budget to 3.3% of GDP, which puts the deficit above the Maastricht limit of 3%. The reasons for this development include the sluggish economic recovery, the effects of the flood disaster, and the increase in the climate bonus. This represents a significant deterioration, as the forecast in March was still 2.9%.
October 3, 2024
Austria Businesses Heading for a Record Year of Bankruptcies in 2024
Austria is facing a possible record year for corporate insolvencies in 2024. The current economic situation shows a significant increase in insolvencies, especially in the first half of the year.
July 15, 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
Aging Population Might Cause Debt Problems in the Future for Austria
The Austrian Ministry of Finance published a budget prognosis for the upcoming 30 to 40 years. The financial future looks bleak in Austria. More specifically, the level of debt will be rising in the next years due to an aging population.
January 5, 2023
Inflation in Austria: Highest Value Since Post-War Period
Inflation in Austria is getting higher and higher. At 10.5%, it has now exceeded the magic limit of 10 percentage points and is thus considered the highest inflation in Austria since the post-war period. Read on if you want to know which products have become more expensive!
October 25, 2022
Austria's Economy Threatens to Fall Into Stagflation
After the recovery of the national economy in the previous year as well as in the first half of 2022, the Economic Research Institute and the Institute for Advanced Studies see Austria in a downturn phase. Stagflation is looming next year.
October 10, 2022
How International Direct Investment and Skilled Workers Influence the Austrian Economy
A new study deals with the question of the extent to which foreign companies and workers influence Austria's value creation. The results show a clear outcome. Read on if you want to learn more!
September 28, 2022
Global Wealth Report: Austrian Financial Wealth Increased
A new analysis of global wealth shows that private financial assets have increased internationally, but also in Austria. In this article you can find out how strongly Austria's economy has developed in recent years and how much the average Austrian has in his or her bank account.
September 21, 2022
How the USA Assesses the Austrian Economy
Every year, the United States government publishes a report that informs US companies and investors about the business climate in more than 160 countries and economies, including Austria. In this US State Department report, business officials at embassies and missions around the world prepare and analyse a variety of economies that are or could be markets for US companies of all sizes. Read on if you want to know how the US views the Austrian economy!
August 4, 2022
Austrian National Bank Expects Highest Inflation Rate in 50 Years
In a recent analysis, the Austrian National Bank expects inflation in Austria to settle at 7.6% in 2022. This particularly high value represents the highest inflation since the crude oil crisis in the 1970s. Inflation is also expected to remain above the target of 1.9% in the coming years.
July 11, 2022
Economic Outlook for Austria: The Kremlin's Aggression against Ukraine is a Game Changer
After a few tough years in which the Covid-19 virus shaped the Austrian economy, a new enormously important factor is coming into play - the war in Ukraine. The Russian aggression led to more pessimistic economic outlook and will still play an enormous factor in the Austrian market in the future.
April 4, 2022
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
OECD: "Austria Is Set to Overcome the COVID-19 Shock and Its Economic Scars"
The Organisation for Economic Co-operation and Development (OECD) has released its latest Economic Survey of Austria. Read what the Survey says about the Austrian economy coming out of the latest wave of the COVID-19 pandemic.
December 20, 2021
Austria Presents Financial Budget for 2022
Austrian Finance Minister Gernot Blümel presented Austria's draft financial budget for 2022 to the Austrian Parliament in the form of the annual budget speech. The plan includes tax reforms, budget increases for various ministries, estimates regarding the COViD-19 crisis, and more. Read some of the specific provisions in the budget outlined by the finance minister.
October 14, 2021
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
Covid-19: Austria Ranks Second for Aid Measures in EU
According to recent calculations published by the International Monetary Fund (IMF), Austria ranks second for Covid-19 aid measures among all EU Member States. Only Greece has spent a higher portion of its GDP (13.7%) for aid instruments, while Austria invested 11.7 percent to relieve its businesses and people.
April 12, 2021
Statistics Austria: Highest Public Deficit Since Records Began
Due to the Covid-19 pandemic, Austria has recorded its highest public deficit since the start of the record in 1954. The deficit in 2020 amounted to 8.9 percent of the GDP (EUR 33.2 billion), which was caused by a sharp increases in government spending and a decrease in government revenue.
April 1, 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
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
Eurostat: Austria Is Second in EU With Research Expenditures
In its recent publication, the statistical office of the European Union, Eurostat, put Austria on second place for research expenditure relative to GDP. Austria has invested 3.19 percent of its gross domestic product in R&D, which is only surpassed by Sweden with 3.39 percent of the country's GDP.
November 27, 2020
Austrian National Bank: Exports Increase Again
Exports, excluding tourism, were above the comparable figures from 2019 for the first time in Austria since the outbreak of the Covid-19 crisis. The Austrian National Bank is confident that a second wave can be contained and that no further monetary or fiscal policy measures are needed.
October 21, 2020
Federal Chamber of Commerce: Lockdown Is Unthinkable and Needs To Be Avoided
The heads of the Federal Chamber of Commerce emphasize the importance of avoiding a second lockdown due to rising Covid-19 cases in Austria. They also demand further support measures for the economy and particularly hope that the EU approves the planned fixed cost subsidy.
October 9, 2020
Schramböck: "Every New Infection Is a Potential Danger for the Business Location"
Federal Minister for Economic Affairs Schramböck empasizes the importance of low infection rates for the business location. She demands more rigid measures for Vienna, which is currently the Covid-19 hotspot in Austria.
October 5, 2020
Public Deficit Amounts to 9.4%, Public Debt to 82.6% of GDP in First Half Year of 2020
Austria's government has lost its successful path to a lower public deficit due to Covid-19. In the first half year of 2020, the public deficit amounted to 9.4% while public debt rose to 82.6%. The outlook for the second half of 2020 is not much better and an increase of public debt is expected.
September 30, 2020
Austrian Economy Slumped by 12.1% in Q2 2020
The newly published report by Statistics Austria shows a massive economic slump in the second quarter of 2020. Austria's GDP declined by more than 12 percent compared to the second quarter of 2019 while expectations for the last two quarters of the year are not much better.
September 28, 2020
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
Vienna Based UNIDO Holds Expert Panel to Discuss Developments in Industry and Society
The United Nations Industrial Development Organization hosted an expert panel about the future of industry and society. Main topics were the advancement of attaining the sustainable development goals and shaping society as a whole.
August 21, 2020
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
Lithuania Locomotive for Baltic States
Among the three Baltic conomic growth saw the highest increase in Lithuania.
May 12, 2014
Hypo Group: Shady Deals with Balkan Diplomats
The Austrian problem bank Hypo Group has troubles recovering debts.
May 3, 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
EU Enlargement: A Success Story for Central Europe
Austria is one of the main beneficiaries of the EU enlargement of 2004.
April 30, 2014
Spindelegger: “Arsonists Are to Blame Not Fire Brigade”
The downsizing of ailing bank Hypo Group Alpe Adria is a heavy burden for this year’s budget. According to Finance Minister Spindelegger, the deficit comes at 2.7 percent of GDP while public debts will soar.
April 29, 2014
Hypo Group: Huge Burden for Austrian Budget
The downsizing of problem bank Hypo Group Alpe Adria is a huge burden for this year’s budget.
April 29, 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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