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Public Debt
Austrian Enterprises Fear Nationalization in Hungary
Nationalization plans induce fierce criticism against the Hungarian Government. The Austrian waste management industry would be hit hard.
January 2, 2012
Austrian Government Debt Stands at € 214bn
Austrian government debt in relation to GDP declined slightly to 71.6%. Social insurance carriers reduced their debt by 49.5%.
December 30, 2011
Austrians Want to Save More
According to a survey by ING International Study, 26% of the interviewed persons want to save more money. Optimism is decreasing.
December 28, 2011
Austrian Government Wants to Save € 10bn
The coalition partners agreed to cut expenses by € 2.0bn per year until 2016. Details were not published.
December 27, 2011
Moody’s Keeps Austria’s AAA
The rating agency points to Austria’s economic strength and attempts to introduce a balanced budget requirement in the constitution.
December 23, 2011
Crisis Reaches Austria’s Real Economy in 2012
Economic growth will collapse next year, investment activities and consumption will suffer from the crisis. A recovery is expected for 2013.
December 21, 2011
Felderer Expects Structural Changes
The head of the public debt committee, Bernhard Felderer says that new taxes are inevitable.
December 20, 2011
Fekter Pushes for Further Austerity Measures
The Austrian Minister of Finance, Maria Fekter (ÖVP), announced that the planned austerity measures will not be sufficient. The coalition partner SPÖ is upset.
December 19, 2011
S&P: Austria Faces Recession
The rating agency forecasts shrinking economic output for countries with large exports.
December 17, 2011
Stagnation Expected for Austria
The Austrian economy is weakening steadily into the New Year. The Bank Austria Business Indicator continued to decline in November turning slightly negative as in the previous month.
December 17, 2011
OeNB: Developments in the Sovereign Debt Crisis Will Be Crucial for Financial Stability
The Austrian National Bank (OeNB) presented the 22nd Financial Stability Report.
December 16, 2011
Rising Number of Private Insolvencies
Mobile phone and car expenses are causing most private insolvencies in Austria.
December 15, 2011
Debt Brake: Government Tries Again
In order to install the „debt brake“ into the constitution, the Austrian government tries again to persuade the opposition parties.
December 12, 2011
Only 0.3% GDP Growth in Third Quarter
The Austrian GDP stagnates, which is due to decrease in domestic consumption. The only positive impetus comes from the export industry.
December 9, 2011
Austrian „Debt Brake“ Resolved
Due to the lack in approval by the opposition parties, the „debt brake“ will only be resolved as a simple act.
December 8, 2011
Rating Agencies Are Seen As Threat
The governor of the Austrian Central Bank, Ewald Nowotny, attacks S&P. For the head of the economic research institute IHS, Bernhard Felderer, the negative outlook must be seen as a warning signal.
December 7, 2011
Economic Stability: Austria Occupies Top Rank
According to a study by Allianz, Austria has the third rank among the EU countries.
December 7, 2011
„Debt Brake“: Critcism Against Opposition
After the “debt brake” has failed, the President of the Chamber of Commerce Christoph Leitl, Finance Minister Fekter and the Federal President Fischer criticize the three opposition parties.
December 6, 2011
S&P: Negative Outlook for Austria
The rating agency Standard & Poor´s gives a negative outlook to all triple-A countries in the EU.
December 6, 2011
Austrian Industry Supports Audit Court
For the Federation of Austrian Industries (IV), the administration has to be reformed immediately. Future investments are needed instead of administrative expenses.
December 5, 2011
Rising Finance Requirements for Austria
In 2012, the Austrian state has to take on significantly more debt than this year. The issued bond volume will grow by 30%.
December 3, 2011
Austria to Issue More Bonds in 2012
Total issue volume will be € 27-30bn. At the end of November, Austria’s bond debt stood at € 162.9bn
December 2, 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
Austria to Participate in Merkel´s Bond Plans?
According to the German Prime Minister Angela Merkel, triple-A countries should issue common “elite bonds”. Austria should take part.
November 28, 2011
Austrian Government Pushes for Further Austerity Measures
The Minister of Finance, Maria Fekter, did not exclude an austerity package. First effects should be seen already in 2012. However, it is not clear yet if economic forecasts for the next year will hold.
November 26, 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
Felderer Pleads for Pay Freeze for Civil Servants
The head of the Austrian Institute of Advanced Studies (IHS), Bernhard Felderer, suggests to stop the salary increase for civil servants next year.
November 19, 2011
„Debt Brake“: Government Tries to Persuade Opposition
This week, the Austrian government announced to insert a maximum debt level into the constitution. The approval of one opposition party is still missing.
November 19, 2011
Economic Downturn Becomes More Obvious
Due to the strong development in the first half year, Austria´s economic growth will amount to 2.9% in 2011. However, for 2012 the growth rate will decrease significantly.
November 16, 2011
„Debt Brake“ for Austrian Government
As the Austrian government fears a downgrade of its rating, the coalition partners agreed to install a „debt break“. Reactions are ambiguous.
November 15, 2011
Sharp Criticism Against Felderer
The head of the Viennese Chamber of Labor, Werner Muhm, attacks the director of IHS, Bernhard Felderer. His economic forecast is “propaganda of fear”.
November 12, 2011
Spindelegger: Cost Cuts and Privatizations to Save Triple-A
Annual interest payments would grow by € 3bn if Austria was downgraded by one notch.
November 11, 2011
Felderer: “Austria’s Triple-A at Risk”
The head of the IHS warns against a spillover of the Italian crisis and calls for a national debt brake.
November 9, 2011
Concerns About Austria´s Finance
Due to missing infrastructure projects, Austria loses € 28bn year by year. The President of the Audit Court, Josef Moser, regards the situation of Austria´s finance as dramatic.
November 7, 2011
Austria Has Third-Highest Pension Costs in Europe
Austria´s expenditures for retires reached 12.7% of ist GDP. Only France and Italy surpass Austria. Sustainability of the domestic pension system improved slightly.
November 7, 2011
Federal Railways: Debt Burden € 15.2bn
The Austrian Minister of Infrastructure, Doris Bures, announced the amount of debt for Austrian Federal Railways and Asfinag.
November 5, 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
CEE Less Vulnerable to Severe Economic Crisis
The reaction of the CEE region to the global slowdown should be less severe than in the post-Lehman crisis, as CEE economies are in a completely different stage of their economic cycle and have reduced their imbalances.
October 17, 2011
Austrian Economy Cooling Down Rapidly
Drastic deterioration in industrial climate and consumer sentiment point to a break in the economic recovery in the second half of 2011.Economic outlook for 2012 lowered to just 1.4 per cent.
October 15, 2011
Private Insolvencies on the Rise
The number of private insolvencies rose by 6%, while the number of companies filing for bankruptcy declined by the same rate from January to September.
October 13, 2011
OeNB: Austrian Economy Is Stagnating
Uncertainty about the global economic development has reduced business and consumer confidence in Austria.
October 12, 2011
Debt Crisis Reaches Steel Industry
The CEO of Austrian voestalpine expects stagnation in European steel production volumes. Declining commodity prices might reduce margin pressure.
October 12, 2011
Austrian Government: Sharp Critics from Industrialists
The Federation of Austrian Industries (IV) attacks the government massively. For the industrialists, the new taxation plans are not acceptable.
October 8, 2011
Androsch „Another Three to Four Billions for Hypo Group“
The former Minister of Finance, Hannes Androsch fears a loss of Austria´s AAA-rating. “We are being observed accurately.”
October 4, 2011
Public Debt Increased to 71.8% of GDP in 2010
Austrian public finance 2010: Public deficit up to 4.6%, public debt grew by 2.3 percentage points.
September 30, 2011
Strong Decline in Company Insolvencies
The number of private insolvencies rose rapidly from January to September, while the number of companies filing for bankruptcy dropped significantly.
September 28, 2011
Austria´s Triple A „Not Endangered“
From a global view, 18 countries have a “AAA-status”. The current debt crisis makes market observers nervous.
September 26, 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
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