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Austria Has New Federal Minister for Labor
After the resignation of Susanne Aschbacher as Federal Minister for Labor, Chancellor Kurz has presented her successor. Martin Kocher, Professor of Behavioral Economics and Director of the Institute for Advanced Studies (IHS) will take over the Federal Minister position as an independent expert.
January 11, 2021
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Impact of Internationals in Austria Remains Huge
According to recent numbers, Austria's official residence secures more almost 19,000 jobs and has an economic impact of EUR 1.35 billion gross value added. This is a significant increase from 2018 although Covid-19 has turned diplomatic relations and encounters into a virtual setting.
December 29, 2020
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WKO Heads Demand Clear Plan for Path to Normality
The heads of Austria's Federal Economic Chamber demand a clear plan that shows a step-by-step path to normality. They demand regular mass testing, where negative test results are connected to more freedoms. According to them, the lockdown immediately after Christmas will hit many companies particularly hard.
December 18, 2020
After Discussions in Austria: IHS and WIFO Against Statutory Reduction of Working Hours
Austrian economic research institutes IHS and WIFO are both against a reduction of working hours. According to the experts, training and retraining for the unemployed would be better approaches.
August 26, 2020
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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
Erste Group to be Relocated to the Czech Republic?
CEO of Erste Group, Andreas Treichl, has informed Czech President Milos Zeman about the bank’s intention to move to Prague in the coming years.
April 9, 2014
Austria: Government Wants “Restrictive Budget Performance”
Today the Austrian government has decided upon a “restrictive budget performance.
April 8, 2014
Austria: “Financial Crisis is Not Yet Over”
Deputy Chancellor and Finance Minister Michael Spindelegger considers the financial crisis not to be completely over.
April 2, 2014
Austria: Faymann Insists on Bank Levy
Chancellor Faymann intends to keep the bank levy in spite of the planned insolvency fund, which is going to be established EU-wide.
April 1, 2014
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Leitl: “Growth Must Not Mean Less Reforms”
Economic growth is now weaker than in the previous phases of upturn.
March 28, 2014
Austria: Economic Growth Slowly Getting in Gear
Wifo (Austrian Institute of Economic Research) projects economic growth in Austria to revive again only at the end of this year.
March 27, 2014
Hypo Group: Nowotny to Replace Liebscher
After Liebscher, head of Hypo Group’s task force, announced throwing in the towel Nowotny, Governor of the Austrian National Bank (OeNB), will become his successor.
February 22, 2014
Austria: Investment Banker Part of Hypo’s Expert Group
A former investment banker is supposed to support Austrian government in the Hypo Group issue.
February 21, 2014
Picker: Hypo to Cost Taxpayers “Only” up to € 4bn
According to CEO of Hypo Group Alpe Adria Picker, the ailing bank will burden taxpayers with “only“ € 4bn at the most. Head of IHS, Keuschnigg, warns the Austrian policy-makers of forwarding costs to bondholders.
February 19, 2014
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IHS Rejects Hypo Group’s Bankruptcy
According to Keuschnig, it is also a question about a “national bankruptcy“.
February 13, 2014
Austria: IHS Against Bank Levy
Christian Keuschnigg, director of the Austrian economic research institute IHS stresses that the bank resolution funds would replace the bank levy.
January 28, 2014
Austria Inflation Rate Dropped in 2013
Last year the overall annual inflation rate dropped to 2.0 percent after 2.4 percent in the previous year.
January 16, 2014
Austria: New Austerity Package to Come?
Austrian economists expect that the new government will draft another austerity package. Otherwise the fiscal objectives will not be achieved.
November 6, 2013
Hypo Group: Worst Expectations May be Exceeded
For the Austrian state, the ailing nationalized banking group may become a financial GSA. The legal dispute with the former owner BayernLB bears enormous dangers for Austria´s public finance.
October 25, 2013
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Mitterlehner: “2014 Will Become Significantly Better“
Austrian Minister for Economy Reinhold Mitterlehner considers the Austrian economy to be in a spirit of optimism as an upturn in Europe has become evident. According to him, 2014 is supposed to become “significantly better” than 2013.
October 17, 2013
IMF Forecasts Only Minimal Growth for Austria in 2013
The International Monetary Fund (IMF) forecasts not even one half percent of GDP growth this year for Austria. However, 2014 has better chances for accelerated growth.
October 8, 2013
Keuschnigg Advises Austria to be Patient
According to Keuschnigg it was not possible to increase the core capital quota of the banks to the level necessary or to reduce public debts by 120 percent in two years only.
October 4, 2013
Austria: Better off within Eurozone
Economic experts claim that since the beginning of the single currency union, Austria has seen an additional economic growth of 0.4 percent. According to them, a collapse of the Eurozone would lead to a massive decline in exports.
October 2, 2013
Austrian Bank Tax Paid By Bank´s Customers
The Austrian Institute of Advanced Studies (IHS) reports that it is “likely” that banks shift the burden to their customers.
September 26, 2013
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Keuschnigg: Losses of Hypo Compensated by Privatizations
Christian Keuschnigg, head of the IHS (Austrian Institute for Higher Studies) suggests to privatize OMV, Post and Telekom Austria to pay for Hypo Group.
September 20, 2013
Austria: Fekter Demands “More Intelligent Model“ for Hypo
Finance Minister Fekter plans on introducing a “more creative model“ than a bad bank.
September 17, 2013
Faymann Underlines Necessity of Property Taxes
Austrian Chancellor Werner Faymann (SPÖ) calls for new taxes. In total, property taxes should bring tax revenues of more than € 2.0bn.
September 9, 2013
Faymann: “Banks Should Pay for Hypo”
Austrian Chancellor Werner Faymann does not consider a new austerity package necessary despite of the threatening billions of Euros for the selling and winding-up of the ailing bank.
September 5, 2013
Keuschnigg: “We Already Have The Flat Tax in Austria”
The head of IHS demands tax relief instead of further tax burdens and the adjustment to the inflation rate.
September 3, 2013
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Austria: OeNB Increases Growth Forecast for 2013
The Austrian National Bank (OeNB) has slightly increased its growth forecast for Austria in 2013 from 0.2 percent to 0.5 percent. Govenor Nowotny said there was a better development than expected in the second quarter.
August 30, 2013
Commerzbank: Austria to Miss Budget Goals
Without a new austerity package, Austria will run up more debts than calculated in the bugdet plan, German Commerzbank says. The country’s AAA ratings are likely to decrease.
August 12, 2013
Austria: Property Distribution Highly Unequal
About 10% of Austria´s population owns 70% of the nation´s wealth. The governing social democrats reaffirm that Austria needs property taxes.
August 5, 2013
Fekter: Debt reduction and tax reform are our absolute priorities
"We are on the right track"
July 25, 2013
Austria: Economists Predict Rosy Days
The Austrian economy will be growing by 1.7 percent on an annual basis and is developing much better than the rest of the Eurozone, the Austrian Institute for Higher Studies (IHS) predicts.
July 24, 2013
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Austrian Economy Dependent on Neighbor Countries
Austria’s economy is getting through the crisis better than the Eurozone. However, the country owes this partly to neighboring countries.
July 11, 2013
IMF Downgrades Growth Prognosis for Eurozone
According to the International Monetary Fund (IMF), the prospects of growth in the Eurozone are still positive. However, they are not as good as in April. Germany and Austria are concerned as well.
July 10, 2013
Austria: WIFO and IHS to Adjust Growth Perspectives Downwards
Experts at the Austrian Institute for Economic Research (WIFO) and the Institute for Higher Studies (HIS) have significantly cut their prognoses for the growth of domestic economy in 2013. However, both institutes are still optimistic for 2014.
June 28, 2013
Austria’s Economy Grows Faster Than Eurozone
Economists of the International Monetary Fund (IMF) are confident for a positive development of Austria’s economy.
April 16, 2013
Keuschnigg Forecasts End of Bank Secret in Austria
Head of the Austrian Institute for Advanced Studies (IHS), Christian Keuschnigg expects the end of the bank secret in Austria.
April 3, 2013
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Slight Improvement for Austria’s Economy in 2013/14
IHS (Institute of Advanced Studies) and Wifo (Austrian Institute of Economic Research) forecast a sluggish growth for Austrian’s economy.
March 21, 2013
Austria: Optimistic Economy Minister Forecasts Economic Growth
In an interview with Wirtschaftsblatt, Austria’s economy minister, Reinhold Mitterlehner, forecasts an economic growth rate of 2 % for the next year, 2014.
March 11, 2013
Austria: Felderer Warns of Property Taxes
The economist believes that already the discussion about property taxes is damaging the Austrian business location.
February 23, 2013
Cautious Growth Forecasts for Austrian Economy in 2013
Austria's economic research institutes predict an economic rebound from 2013. Consulting firm Ernst & Young has also forecast slight growth for Austria in 2013.
December 29, 2012
„We Have to Work Longer“
Christian Keuschnigg, director of the Austrian Institute of Advanced Studies (IHS) demonstrates optimism.
December 27, 2012
IHS: Austria Has Bottomed Out
Austria faces a trend reversal, the Austrian Institute of Advanced Studies (IHS) says. The real debt level in Austria totals 200%, Keuschnigg says.
December 21, 2012
Austrian Economy: IHS and WIFO Cautiously Optimistic
The two Austrian economic research institutes anticipate an economic recovery in the second half of 2013.
December 21, 2012
Ernst & Young: Austria Almost Stagnates
Next year, Austria only will grow by 0.9%, the consulting group says.
December 19, 2012
„Austria Grows Stronger than Expected“
According to the economic research institute Synthesis, Austria´s economic growth is higher than WIFO and IHS say. The employment situation would be too good.
December 13, 2012
Nowotny: GDP Forecast Will not Hold
The governor of Austria´s National Bank Ewald Nowotny admits that the forecast on Austria will have to be revised.
November 21, 2012
IHS: Collapse of Eurozone would Cost 157,000 Jobs
The Austrian Institute of Advances Studies IHS says that Austria´s economic growth would be lower by 11 percentage points until 2016.
November 5, 2012
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