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Ministry of Finance

Austrian State and Industrial Holding will be Reorganized Again

The holding company of the Austrian federal shareholdings (ÖBIB) is to be restructured and given a new boss. The existing structures created by the red-black predecessor government will soon be history again. The law for a new holding company of the Republic is to be examined in the next few days. Its boss is to be Thomas Schmid, general secretary in the Federal Ministry of Finance.

October 3, 2018

Former Finance Minister Schelling Appointed Gazprom Advisor

Hans Jörg Schelling, former Austrian Minister of Finance until December 2017, has signed an advisory contract with Nord Stream 2 gas pipeline three months after his handover. OMV is also involved in the project, of which he was the owner's representative as Austrian Minister of Finance.

March 30, 2018

Austria Plans „Young Entrepreneur Funds“ Worth € 110m

The Austria Ministry of Finance and the Ministry of Economics present a „young entrepreneurs scheme“.

July 18, 2012

VBAG-Restructuring Proves Problematic

In March, the Austrian VBAG Banking Group became partly nationalized. A new CEO has not been found yet.

July 12, 2012

Support for Export-Oriented SMEs

The Austrian Ministry of Finance increased the bill guarantee facility for small and medium-sized enterprises to € 1.2bn.

June 29, 2012

„ÖIAG Should Finance Start-Ups“

The Federation of Austrian Industries (IV) suggests using ÖIAG´s investment income for the purpose of financing start-up enterprises.

June 19, 2012

Switzerland Ratifies Tax Treaty with Austria

The Swiss National Council approved the tax deal with Austria. Illegal funds of Austrian nationals in Switzerland will be taxed.

May 30, 2012

Fekter: “Strengthen Partnership with Eastern Neighbours”

Austria´s Finance Minister Maria Fekter emphasizes the necessity of a closer political and economic integration needed with partners in the East.

May 26, 2012

Fekter Warns of Greek Exit

Austrias Finance Minister Maria Fekter sees enormous difficulties in the case of an exit out of the Eurozone. The Financial Market Authority (FMA) supports Fekter.

May 23, 2012

Fekter: Hollande´s Suggestions are “Nonsense”

Vice-Chancellor Spindelegger and Finance Minister Fekter are strictly against the introduction of Eurobonds and any amendments of the Fiscal Treaty.

May 22, 2012

Bank Secret: EU Commission is Frustrated

The European Commission is dissatisfied with Austria´s and Luxembourg´s blockage of the interest taxation directive.

May 16, 2012

Austria´s Bank Secret Endangered

„I will withstand.“ Maria Fekter, Austria´s Minister of Finance said. The resistance against the EU directive on the taxation of interest will not be given up, Fekter reaffirmed.

May 15, 2012

Greek Exit: Costs of € 7.7bn for Austria

Austria could have to bear costs of up to € 7.7bn if Greece leaves the Eurozone. Austrian guarantees amount to € 3.1bn.

May 14, 2012

Austrian Ministry of Finance Presents Public Expense Statistic

Finance Minister Maria Fekter initiated an information campaign. 22.6% of the public expenses are allocated to provinces and municipalities.

May 12, 2012

Austrian Stability Pact Signed

The Austrian Federation, the provinces and the municipalities agreed on the stability pact. Until 2016, a zero deficit should be reached.

May 10, 2012

IHS: Austerity Package Smaller than Expected

The Austrian Institute of Advanced Studies (IHS) considers the austerity package to be effective. Proceeds will be smaller than expected, though.

May 9, 2012

Austrian Ministry of Finance Records Higher Tax Intake

In the first three months of 2012, tax proceeds were up by 3.8%. The Ministry of Finance registered revenues of € 16.2bn.

April 23, 2012

Fekter meets British Chancellor of the Exchequer Osborne

The Austrian Minister of Finance Maria Fekter and George Osborne talked about Basel III, the EU budget and taxation.

April 23, 2012

Swiss-Austrian Tax Treaty to be Signed

The tax treaty between Austria and Switzerland will be signed tomorrow on Friday. The tax rate is set at 38%.

April 12, 2012

Tax Treaty with Switzerland Close to be Finished

Austria aims for reach a tax agreement with Switzerland in order to tax illegal funds deposited by Austrian nationals at Swiss banks. An agreement seems to be within reach.

April 11, 2012

Where is Austria´s Gold?

The major part of Austria´s gold reserves should be located in the U.S. The Austrian Central Bank does not answer any questions.

April 10, 2012

Tax Intake Higher Than Expected

In the first two months of 2012, the Austrian state received € 460m more tax proceeds than initially expected.

April 6, 2012

Lufthansa Claims Exemption of Air Ticket Tax

In order to restructure the Austrian loss making subsidiary AUA, the German airline pushes the Austrian government to abandon the air ticket tax.

March 17, 2012

Doubt About Austerity Package

Austria´s Finance Minister Fekter had to defend the government´s austerity package again. Experts are in doubt about the successful implementation.

March 15, 2012

Public Debt Agency: “Unnecessary to Change Bonds Issuance Plans”

Austria sees no need to change its debt issuance program and is sticking to its plan to stay below the European Union’s deficit ceiling this year even as it injects cash into Oesterreichische Volksbanken AG (VBPS) and KA Finanz.

March 6, 2012

Fekter: "Eurogroup Chief Must Be Head of Government"

Austria’s Finance Minister Maria Fekter said the next leader of the group of euro-area finance ministers has to be a head of his or her government in order to have the necessary authority.

March 6, 2012

Fekter: Up to € 1.0bn for Kommunalkredit

In case of a default of Greek sovereign bonds, the Austrian state would have to grant € 1.0bn to the nationalized bank Kommunalkredit.

March 3, 2012

Austerity Package Threatens to Fail

The strict timeline of the Austrian austerity package could cause its preliminary failure. Federal President Fischer says not to have enough time to control the act.

March 2, 2012

Budget Deficit Lower Than Forecasted

The Austrian budget deficit in 2011 reached 3.3%. Initially, the figure was expected to amount to 3.9%.

January 27, 2012

Hypo Group: € 3.0bn Debts at BayernLB

The nationalized Hypo Group is still massively indebted at its former holding company, the German BayernLB. The loan will be due by the end of 2013.

December 3, 2011

Fekter Optimistic to Hold AAA-Rating

Austria's Finance Minister expressed confidence on Tuesday that the country would hold on to its AAA sovereign rating.

November 22, 2011

Austria’s Tax Revenues 7.6% Higher than in 2010

The state’s total revenue was up by 8.2%, while expenditures increased by only 1.08% in the period January to September.

November 11, 2011

New Speculations about Austria’s Triple-A Rating

Current rumors about a possible downgrade are unfounded, according to a ministry spokesman.

November 4, 2011

„Austria´s Triple A Not in Danger“

For the Austrian Minister of Finance, Maria Fekter, the status of the domestic economy is “well prepared”.

October 29, 2011

Austrian Budget: 3.2% Deficit in 2012

Today, the Austrian Minister of Finance, Maria Fekter, presented the budget for 2012. The debt quota rises further until 2015.

October 19, 2011

„Austrian Banks Are Robust“

Ewald Nowotny, the head of the Austrian Central Bank (OeNB) as well as the Minister of Finance, Maria Fekter, appreciate the announcement of Erste Group.

October 11, 2011

IMF: „NPL in Eastern Europe Decreasing“

After the announcement of the Hungarian government to convert foreign currency loans at the expense of banks, the IMF has good news for Austrian banks.

September 21, 2011

Bank Aid Package is a Loss for Austria

For the Austrian Republic, the recapitalization measures for Austrian business banks is a losing deal. Losses amount to € 237m.

September 7, 2011

Fourth Applicant for Lottery Concession

The Ministry of Finance received one more application for the lottery license. Meanwhile, the guessing game on names continues.

August 11, 2011

Three Applicants for Lottery Concession

The match for the Austrian lottery license goes into its final round. Three companies have submitted an application.

August 3, 2011

Ex-Finance Minister Pröll Hired by Raiffeisen

The former Austrian Finance Minister was named CEO of Leipnik-Lundenburger Invest Beteiligungs AG as of July 1.

June 1, 2011

Resistance to Privatization Plans

The SPÖ criticized the plans of its coalition partner ÖVP to reduce public participation in order to abate debt.

May 10, 2011

Contradictions Regarding Expenditure for Bank Package

According to Eurostat, € 1.4bn more were spent on bank assistance than the corresponding revenues. The Ministry of Finance contradicts this.

May 7, 2011

Moser Demands Changes in Debt Policy

Josef Moser, President of the Audit Court warns urgent structural reforms of the policy. There is no all-clear; the situation is "ominous".

May 3, 2011

Austria's Deficit in 2011 at 3.9 Percent

Despite the economic recovery, the debt will increase significantly again in 2011. The consolidation will take place from 2013 onwards.

April 29, 2011

Maria Fekter is the New Finance Minister

As part of the changes in the ÖVP government team, Minister for Internal Affairs Maria Fekter changes over to the more prestigious Ministry of Finance

April 16, 2011

Spindelegger New Vice-Chancellor and Head of ÖVP

Michael Spindelegger succeeds Josef Pröll as leader of the conservative party and Vice-Chancellor. Who will be in charge of the Minister of Finance, is still not clear.

April 15, 2011

ÖBB Promote Construction of the Brenner Tunnel

After the ÖBB detached themselves from the financing of the Brenner tunnel in February, an agreement was reached with the Ministry of Finance.

April 14, 2011

Vice-Chancellor Pröll Resigns

The Minister of Finance and Vice-Chancelor of Austria, Josef Pröll, decides to leave the political arena.

April 13, 2011

ÖIAG Provides Increased Revenue for the Sate

The Austrian state holding company will deliver about 250mby means of higher dividend payments to its owner, the Republic of Austria.

April 8, 2011
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