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Public Debt
S&P: „Austrian Banks Undercapitalized“
The rating agency Standard & Poor´s (S&P) sees a substantial undercapitalization for Austrian banks. The recommended rist-adjusted capital quota is 8%, Austrian banks are below.
September 19, 2011
Increasing Equity Quotas of Austrian SME
The average equity quota of Austrian SME in 2009/2010 was 28%. This is an improvement against the previous years. However, 30% of SMEs are overindebted.
September 19, 2011
RH Warns: Alarming Increase in Public Debt
Austrian government debt is growing rapidly. From 2006 to 2010, government expenditures went up by 18.2%.
September 15, 2011
Austrian Households with Second Lowest Debt Ratio in Western Europe
A lower ratio was only recorded for Belgium. In the year 2010, Austrians’ gross financial assets averaged € 59,346.
September 14, 2011
Economic Downturn Reaches Austria
A current survey indicates an imminent deterioration of the Austrian economy. Researchers don’t expect a recession but a clear downward trend.
September 9, 2011
Asfinag Pays First Dividend Since 2008
A pending lawsuit might cost the Austrian motorway financing company up to € 37m. Full-year profit is still expected to rise.
September 8, 2011
IMF Puts Pressure on Austria
The IMF shows itself content with the Austrian post-crisis policies. But now, Austria has to reduce new indebtedness.
September 7, 2011
IHS: No Zero Deficit until 2021
The research institute calculated that Austria will not be able to achieve a balanced budget in the next ten years. Felderer calls for reforms of the pension and healthcare systems.
August 24, 2011
Austria Is One of Three Euro Countries with Lowest Default Risk
Only three euro countries were found to have low default risk combined with a positive trend. The euro zone is seen in an “existential crisis”.
August 8, 2011
Fitch Confirms Austria’s Triple-A Rating
The U.S. rating agency confirmed the Republic of Austria’s AAA credit rating. The outlook remains “stable”.
July 25, 2011
Massive Increase in Municipalities’ Foreign Currency Debt
The amount of foreign currency debt has doubled since 2009 and surpassed € 2bn in February 2011. Swiss franc denominated loans accounted for almost 100%.
July 25, 2011
Government Debt Committee Sees No Margin for Tax Cuts
The committee called for debt reduction and warned against a tax reform. The gap between government revenues and spending is increasing.
July 7, 2011
Moody’s Gives Negative Outlook for Carinthia
Austria’s southernmost province received a negative outlook due to an increasing budget deficit, high debt and credit guarantees for Hypo Alpe Adria.
July 1, 2011
Austrian Government Debt Grew to € 210bn
Debt of the federal sector increased by € 6.3bn, while all other sectors registered a decline. Social insurance carriers’ debt fell by 32%.
June 30, 2011
Slight Decline in Company Insolvencies
Private insolvencies are on the rise, while the number of companies filing for bankruptcy is falling moderately.
June 28, 2011
Austrians Support Aid for Greece
The majority of the Austrian population does not want to let Greece down. 55% see the common currency at risk.
June 22, 2011
Bronze Medal for Austria’s Economy
According to a study by Allianz, Germany is the euro zone country with the healthiest economy. Luxembourg comes on the second rank followed by Austria.
June 21, 2011
IMF Calls for More Ambitious Budgetary Consolidation
Austria was asked to make higher efforts to reduce its debt. The IMF recommends savings in the pension and health care systems as well as lower state subsidies in next year’s budget.
June 14, 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
Surprising Profit at ASFINAG
With an annual result of € 339m for 2010, the Austrian motorway financing company had much better results than expected.
May 6, 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
New High for Austria´s New Indebtedness
Austria´s budget deficit for 2010 is at 4.6%, which is the highest one in the last 15 years. However, the average of EU-countries is even higher.
April 27, 2011
Kern Leads an Image Campaign for ÖBB
With humorous content, but caused by the serious situation of the Austrian State Railway, CEO Christian Kern intends to promote greater understanding for the Group.
April 26, 2011
Financial Problems in Austrian Municipalities
The revenue of Austrian municipalities should not be fall further in 2011, however, new expenditures will be caused by additional competences.
April 16, 2011
ÖBB Debt Reduction is Further Delayed
The debt of the Federal Railroad increases dramatically through the acquisition of a 25% share in the Brenner Base Tunnel (BBT) project,
April 15, 2011
Kern: "We are Struggling for Survival"
The CEO of the Austrian Federal Railways (ÖBB), Christian Kern, paints a dramatic picture of the largest domestic transport company.
April 8, 2011
Austrian Public Deficit up to 4.6%
Public Finance 2010: Public deficit at 4.6%, public debt at 72.3% of GDP
April 1, 2011
Leitl Demands Reduction of Public Debt
The President of the Austrian Economic Chamber sees potential for efficiency in the administration, as well as in the health and pension system
April 1, 2011
Manufacturing Industry Sharply Criticizes the Union
Employees' proposals are not very productive, the Austrian Industrial Association says. There is no shift from wages toward corporate profits.
March 22, 2011
Austria's Public Debt Ratio Increases to over 80%
By including again non-active budget items, which are no longer allowed under EU law, debts of the Republic of Austria increase dramatically.
March 8, 2011
Stagnation in the Austrian Construction Industry
The economic outlook for the construction business continues being less favorable than for the overall economy. Only since 2012 is growth expected again.
March 5, 2011
Brenner Tunnel: ÖBB will not pay
The Austrian Federal Railways will only accept to build the tunnel for € 10bn, if the costs are passed on to the state.
February 22, 2011
Erste Group manages € 1.25bn increase of Slovak Bonds
Strong interest for the Slovak sovereign bonds offering: total orders amounted to € 1.9bn from over 100 investors.
February 19, 2011
Austria's Budget Deficit is Lower than Expected
The preliminary budget outcome for 2010 is 0.6% better than forecast. However, the results of the ÖBB could increase the deficit again.
February 17, 2011
Massive Increase in Public Debt
Austrian public debt could rise dramatically soon by a new calculation involving separate legal entities.
February 10, 2011
Tension between ÖBB and ÖVP
The conflict over the finances of the Austrian State Railway between the ÖBB and the ruling ÖVP goes on.
February 8, 2011
ÖBB CEO Kern Closes In on Politicians
The CEO of the Austrian Federal Railways (ÖBB), Christian Kern, reacts angrily to accusations made by politicians.
February 5, 2011
Austria's Budget Deficit is at 4.1%
Although the budget deficit is lower than expected, but the official national debt could increase considerably due to the ÖBB.
February 1, 2011
Up to 150,000 Insolvent People in Austria
According to the Kreditschutzverband (KSV, Credit Protection Association 9,028 people were forced into personal bankruptcy last year. The number of people at risk is many times higher.
January 29, 2011
"Austria Does Not Deserve an AAA Rating"
The chief economist of the American Citigroup, Willem Buiter, also denies Austria, alongside the U.S. and the UK, the right to the AAA rating.
January 29, 2011
voestalpine Intends to Strengthen Equity Capital Base
The Austrian steel company plans to make itself more independent from debt. In spite of growing profits, investments remain low.
January 27, 2011
Budget-saving Measures in Austria are Insufficient
According to the WIFO, budget deficit and public debt are lower than the EU average; central potential savings have been neglected however.
January 26, 2011
Austria's Growth Remains Dependent on Exports
The Austrian GDP will grow in real terms, according to WIFO, at an annual average of 2.2% per year between 2011-2015. The unemployment rate is expected to stagnate.
January 25, 2011
Austria's AAA Credit Rating Confirmed
The U.S. rating agency Moody's confirms the Republic of Austria’s Triple-A rating. The outlook remains "stable".
January 21, 2011
Pröll is Against the Extension of the Euro Shield
The Austrian Finance Minister, Josef Pröll (ÖVP), called for stricter budget discipline and pronounces himself against a more extensive rescue shield
January 20, 2011
WKÖ endorses policy of the European Commission
The Austrian Economic Chamber welcomes the focus of the EU Commission on structural reforms, consolidation of public finances and competitiveness.
January 13, 2011
CEE Economic Growth Forecast: 3.8% in 2011
According to UniCredit, especially Turkey, Poland, Czech Republic and Estonia will bounce back impressively due to stronger industry and domestic demand.
January 13, 2011
Kneissl: "Al Jaber pays"
The Tyrolean ski manufacturer promises once more to pay its debts. The state prosecution is already looking into the matter.
January 5, 2011
Demographic Development: a Future Challenge for Austria
The expected demographic development will increase expenditure in geriatric care in Austria.
January 5, 2011
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