OECD

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

Joint Vienna Institute: Patrick Imam Succeeds Holger Flörkemeier

Patrick Imam joined the JVI - Joint Vienna Institute as Deputy Director. Having joined the International Monetary Fund (a party to the Agreement for the Establishment of the JVI) in 2005, he has held positions in the Middle East and Central Asia as well as the African Department (Zimbabwe and Madagascar), the IMF Institute and the Monetary and Capital Markets division. His predecessor Holger Flörkemeier was the JVI Deputy Director for the last four years. On the occasion of his departure, the JVI interviewed him and asked him to share his experience and views on the JVI.

September 28, 2021

What Is the Joint Vienna Institute and What Does It Do?

The Joint Vienna Institute (JVI) is a Vienna based International Organization which provides policy-oriented training primarily to public sector officials from countries in Central, Eastern and Southeastern Europe, the Caucasus and Central Asia, and other selected countries. It has been a hallmark of cooperation between the IMF and Austria for 29 years. Find out how the institute justifies its existence.

July 22, 2021

Liechtenstein's Prime Minister Met Kurz and Blümel in Vienna

The new Prime Minister of Liechtenstein, Daniel Risch, came to Vienna for a working meeting with Austria's Chancellor Sebastian Kurz and Finance Minister Gernot Blümel. On the agenda of the talks was the management of the Covid-19 pandemic, in particular the border management, and digital taxes.

April 30, 2021

German-Speaking Finance Ministers Met in Vienna

Vienna hosted the tenth informal meeting of the German-speaking finance ministers. Representatives of Germany, Liechtenstein, Luxembourg, Switzerland and Austria took part in discussions about Covid-19 and the future of taxes.

August 28, 2020

Corona-Crisis: Greatest Danger since the Financial Crisis

The OECD is sounding the alarm about the coronavirus and warned of the possibility that global economic growth could be halved this year.

March 2, 2020

OECD Economic Survey: Reform Proposals for Austria

A recent economic report by the OECD (Economic Surveys: Austria 2019) examines the impact of weak foreign demand, uncertainties in world trade and an ageing population on the prospects for the Austrian economy.

November 15, 2019

Austria's Capital Market for SMEs on the Brink of a Renaissance

Finance Minister Hartwig Löger plans to revive the Austrian capital market for SMEs by making trading of bearer shares of Austrian companies on the Third Market possible again.

April 11, 2018

OECD's Angel Gurría and IIASA Agree to Tackle Critical Global Problems Facing Humanity

OECD (Organisation for Economic Co-operation and Development) Secretary-General Angel Gurira led a high-level OECD delegation to visit IIASA. The Secretary-General gave a special lecture titled "Better Policies to meet the Systemic Challenges of the 21st Century" at the Austrian Federal Ministry of Education, Science and Research, which was followed by the signing of an OECD-IIASA Memorandum of Understanding. The aim of the agreement is to jointly shape and develop innovative policies by applying systems thinking to the critical global issues facing humanity.

March 22, 2018

Austria: Banking Secret for Foreigners to be Abolished Forever

From 2017 on, the banking secret for non-Austrian residents will be abolished completely.

March 11, 2014

EUSD: Austria “Ready to Agree“

Despite earlier statements to the contrary, Austria could now agree to the extension of the European Saving’s Directive (EUSD) during tomorrow’s ECOFIN meeting in Brussels.

March 10, 2014

Austrian Bank Secret Remains Until 2017

Austrian Finance Minister Spindelegger will present proposals for amendments of the EUSD tomorrow.

March 10, 2014

OECD Shows Great Concern over Hungarian Economy

According to the OECD, the country’s recovery from recession will be weak in 2014 and 2015

January 27, 2014

Citizens from CEE Major Benefit for EU

A current paper published by the OECD shows that the European Union benefits from migration of Eastern European citizens as they compensate imbalances in the labor markets.

January 15, 2014

Austria: Wifo’s Estimates More Optimistic

Wifo forecasts Austria to keep its growth advantage if “smart” consolidation measures are carried out by the government.

November 20, 2013

Austria: Consumers Become More Cautious

Weak consumption is the main reason for the stagnation in Austria.

November 19, 2013

OECD: Restructuring of Banks Required

The Organization for Economic Cooperation and Development (OECD) calls for a fast progress in the establishing of a banking union in the Eurozone and restructuring of the banking sector to boost economic growth.

November 19, 2013

China to Acquire Ukrainian Farmland

In the coming fifty years crops are supposed to be grown and animals should be bred in the Ukraine for the Chinese market.

September 23, 2013

Czech Republic: US Export-Import Bank Offers Loan for Temelin

The official export credit agency of the United States offers a loan under the condition that Westinghouse wins the tender.

July 30, 2013

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

Austria: Fekter Signed OECD’s Multilateral Assistence Agreement in Tax Matters

Fekter described the signing as a “further important step in the fight against tax evasion and tax fraud”.

May 29, 2013

Slovenia to Emerge From Quagmire By Itself?

A recent report by the OECD paints a dim picture of the country’s economic future.

April 17, 2013

Austria: Tax Burden Lessens With Higher Income

According to an OECD study only three industrialized nations (Austria, Germany and Spain) show a degressive tax system.

March 26, 2013

CESEE: Stress of Competition is Growing

CEE significantly more industrialized than euro area (30% vs. 19%) but still needs to catch up in terms of competitiveness.

February 20, 2013

Slovakia: Tax Intake to Decrease

Despite the higher income tax rates, the Slovak state revenues are expected to fall by € 360m this year.

February 12, 2013

Austria: Corruption Is Costing Taxpayers € 17bn

A report issued by OECD analyzes the economic costs of corruption. In case of Austria, the damage totals about 5% of the GDP.

January 18, 2013

Bank Secret: Brussels Increases Pressure on Austria

EU-Commissioner Algirdas Semeta calls Austria and Luxembourg to give up their blockade against the reform of the interest taxation directive.

January 14, 2013

OECD Criticizes Austria´s Anti-Corruption Policy

Austria’s enforcement of foreign bribery laws far too weak, but could pick up soon says OECD.

January 8, 2013

Hungary Continues Downward Trend

In the third quarter, Hungary´s GDP contracted by 1.5%, OECD says. The whole year will bring similar results.

December 18, 2012

OECD Criticizes Gender Pay Gap in Austria

Although the education level of women has improved in the last decades, a greater education attainment level of women is not matched with labour market outcomes, OECD says.

December 17, 2012

Fiscal Policy: OECD Warns Slovakia

OECD´s Secretary General Angel Gurria calls Slovakia to improve its fiscal efficiency. The tax collection must be professionalized, he says.

December 8, 2012

Austria Faces Recession

Austria´s National Bank OeNB has revised the growth forecasts one more time. Next year, Austria´s economy will only grow by 0.5%.

December 7, 2012

Rothensteiner: „No Credit Crunch“

Walter Rothensteiner, CEO of Austrian Raiffeisen Zentralbank, thinks that the capital shortfall of European banks does not limit credit supply.

December 3, 2012

Reforms: Weak Performance of Austrian Government

The Brussels-based think-tank “The Lisbon Council” and German Berenberg Bank underline that Austria´s economic situation is still favorable. However, the implementation of reforms slackens.

November 29, 2012

OECD: CESEE Countries A Risk Factor for Austria

Next year, Austria´s economy will only show a growth rate of 0.8%. Unemployment is estimated to increase further. CESEE countries would lower the grow prospects for Austria, OECD says.

November 27, 2012

Austria: Black Labor Costs € 3.5bn Per Year

The economist Friedrich Schneider explains that the size of black labor comes at € 19.6bn per year in Austria.

November 12, 2012

Tax Quota: Austria Among Top Countries

Among 27 OECD countries, the Austria´s tax quota is the eight highest. For Austria, the trend goes upwards

October 24, 2012

Austrian Share of Academics Below OECD-Average

In Austria, only 21% of the persons aged between 25 and 34 are graduated. This is massively below the OECD-average of 38%.

September 20, 2012

OECD: Czech Spending on Education too Low

The Organisation for Economic Cooperation and Development criticizes the Czech government. Expenditure on education only reach 4.8% of GDP, which is below the OECD average of 6.2%.

September 12, 2012

Nowotny: „Austria is Safe“

The governor of Austria´s Central Bank (OeNB) Ewald Nowotny asserts that the economic stability in Austria is substantially better than in other regions of the Eurozone.

May 23, 2012

Life Quality: Austria in the Upper Middle Field

Austria´s position in the “Better Life Index” is in the upper middle field. The work-life balance and the education are seen as weaknesses.

May 22, 2012

Austrian Unemployment Still Lowest in EU

The EU unemployment rate rose to 10.9% in March 2012 from 9.9% the year before. Since 2000, taxes on labor rose dramatically in Austria.

May 2, 2012

Unemployment of Older Aged Workers Increases Disproportionately

The Austrian labor market registers a rise both in employment and unemployment of persons aged beyond 50. Especially unemployment of male persons aged beyond 50 rises dramatically.

March 17, 2012

Increasing Gap in Incomes

Although Austria´s Gini coefficient is relatively low, the gap between high and low incomes becomes larger.

December 6, 2011

OECD: 2012 Brings Stagnation

The OECD forecasts only a 0.6% growth rate for Austria. The euro-zone will experience a recession.

November 28, 2011

Conference on European Economic Integration

“European Integration in a Global Economic Setting – CESEE, China and Russia“. Conference jointly organized by the Oesterreichische Nationalbank and Suomen Pankki – Finlands Bank.

November 18, 2011

Savings Capacity in Austrian Health Care System

Expenses for the Austrian health care system amount to 11.0% of the GDP. The savings capacity has to be exploited, politicians say.

November 12, 2011

„Education at a Glance“: Austria Falls Behind

According to the study of the OECD, Austria has a slightly rising level of graduates. Nevertheless, the difference to the OECD average is still substantial.

September 13, 2011

No Common Trend for CEE-Countries

Regarding economic growth, prospects for CEE countries have worsened slightly. However, the region remains heterogeneous.

September 13, 2011

OECD Calls for Reforms and Increased Efficiency

The OECD expects growth of 2.9% in 2011 and a further decline in the unemployment rate. To maintain the country’s performance the study recommends reforms in many areas.

July 11, 2011
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