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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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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Economic Report 2011: Government Surprised by Quick Recovery
Experts praise Austria’s relatively stable performance during the years of crisis and call for reforms necessary for ensuring the country’s competitiveness.
July 8, 2011
Swiss Expert Criticizes Austria’s Role in International Money Laundering
OECD expert: “Austria is used as a gateway for international money laundering. It is doing too little to fight the phenomenon.” Only twelve convictions were made in 2009.
May 26, 2011
Austria’s Economy Is Growing Faster Than Expected
The Austrian economy has grown faster than expected. The OECD raised its growth forecast to 2.9%.
May 25, 2011
Tax Treaty between Austria and Germany
Austria and Germany sign a revision protocol on double taxation agreements to implement the OECD standards of transparency and effective exchange of information.
January 19, 2011
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