GDP Gross Domestic Product

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

Poland: Budget Deficit Soaring

Last year the budget deficit amounted to 4.3 percent of GDP.

April 17, 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

S&P Upgrades Polish Banking Sector

Rating agency Standard & Poor’s has upgraded the Polish banking sector from “negative” to “stable”.

April 16, 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

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

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

Hypo Group: Heavy Burden for Austrian Fiscal Position

The Austrian National Bank, however, expects the structural medium-term budgetary objectives to be achievable.

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

Czech Economy Recovers Slowly

In 2013, the Czech GDP was down for the second consecutive year. This year, the Czech economy is expected to expand by 1.4%.

April 5, 2014

RBI: Economic Recovery Despite Geopolitical Tensions

Economic upswing vs. geopolitics.

April 4, 2014

CEE: Economy Could Become More Vulnerable to Crimea Crisis

If the political crisis in Crimea aggravates negative effects in the economy could soon become evident.

April 2, 2014

Czech Republic: Euro Support Still Weak

Almost a quarter of Czech citizens support the idea of joining the single European currency union.

April 2, 2014

Austria: Economic Recovery Remains Modest

Political clouds over economic recovery.

April 1, 2014

Hungarian Recovery Remains Shaky

Last year, Hungary´s government successfully managed the economic turnaround. Nevertheless, Hungary´s growth remains artificial.

March 31, 2014

Austria: State Revenues Increased

In 2013 the Austrian budget deficit came at 1.5 percent of GDP wile public debts increased to 74.5 percent of GDP.

March 31, 2014

Leitl: “Growth Must Not Mean Less Reforms”

Economic growth is now weaker than in the previous phases of upturn.

March 28, 2014

Poland to Fulfill EU Commission’s Regulations

According to Polish Finance Minister Mateusz Szczurek, Poland will have no difficulties fullfilling the standards set by the European Commission with regard to the budget deficit.

March 27, 2014
Fast News Search