Subsidies

Austria Increases Turnover Loss Bonus

Companies, which are experiencing significant revenue shortfall due to the ongoing Covid-19 crisis, can now submit their applications for the Austrian turnover loss bonus for the months of March and April. The total amount available for companies has been increased to EUR 80,000 per month.

April 16, 2021

Covid-19: Austria Ranks Second for Aid Measures in EU

According to recent calculations published by the International Monetary Fund (IMF), Austria ranks second for Covid-19 aid measures among all EU Member States. Only Greece has spent a higher portion of its GDP (13.7%) for aid instruments, while Austria invested 11.7 percent to relieve its businesses and people.

April 12, 2021

Increase in Financial Aid for Companies in Austria Introduced

Austria's Minister for Finance Gernot Blümel has presented an increase of measures to alleviate companies from the hardships of the Covid-19 crisis. Funding for the turnover loss bonus has been increased and compensation for vacation days during short-time work has been introduced.

March 11, 2021

EC Supports 7 Austrian Projects to Boost Economic Growth

The European Commission (EC) will support seven Austrian projects under the Technical Support Instrument (TSI). In total 226 projects in all of the 27 EU Member States were approved to receive funding, which will attempt to design and implement national reforms to boost economic growth in the respective countries.

March 5, 2021

WKO: Austria's Tourism Industry Needs Every Possible Help

The chairman of the division responsible for tourism in the Austrian Federal Chamber of Commerce, Robert Seeber, demands all possible help for the hard-hit Austrian tourism industry. Seeber emphasizes the need for urgent measures, so the tourism sector can once again "act as an economic locomotive and employment engine to boost the entire national economy."

February 10, 2021

Blümel: EU's Raise of State Aid is Necessary Step

The European Commission has extended its framework for state aid to support companies that are affected by Covid-19. In addition to the extension, the current thresholds have been raised, which was a highly necessary decision according to Austria's Finance Minister Gernot Blümel.

January 29, 2021

Investment Subsidy Program Gets Extended

The Austrian government has announced an extension of the investment period for which subsidies will be granted. The high demand for the subsidy shows that many companies are hoping for a quick recovery from the current pandemic, which secures important jobs and strengthens Austria as a business location.

January 25, 2021

Further Increase of Investment Subsidy

The Austrian government has decided to increase its budget for investment subsidies. The high demand for this subsidy by companies located in Austria has exceeded the expectations of the government and is therefore adjusted upwards by another EUR 1 billion in order to further promote investments into digitalization, sustainability and other sectors.

November 30, 2020

European Commission Approves Second Fixed Cost Subsidy

The European Commission has approved Austria's request to grant further subsidies to companies particularly impacted by the ongoing pandemic. The so-called Fixed Cost Subsidy II could cover up to 70 percent of the uncovered fixed costs and up to EUR 3 million.

November 23, 2020

WKO Heads: "Lockdown Hits Companies With Full Force"

The new lockdown will once again shut down Austria's economy in its entirety. The heads of the Austria Federal Chamber of Commerce (WKO) emphasize the importance of financial support for companies by the government and of a well functioning education for children despite school closings.

November 16, 2020

Turnover Compensation For Impacted Companies

The Austrian Ministry of Finance has issued another instrument to offset negative consequences of the second lockdown for the economy. Impacted businesses will be compensated for 80 percent of their turnover with an allegedly unbureaucratic and fast process that should help companies as uncomplicated as possible.

November 6, 2020

Federal Chamber of Commerce: Lockdown Is Unthinkable and Needs To Be Avoided

The heads of the Federal Chamber of Commerce emphasize the importance of avoiding a second lockdown due to rising Covid-19 cases in Austria. They also demand further support measures for the economy and particularly hope that the EU approves the planned fixed cost subsidy.

October 9, 2020

Austrian Airlines to Reduce Flights and to Increase Short-Time Work

Due to new travel restrictions from Germany, Switzerland and other countries with regard to the increasing number of Covid-19 cases in Austria, Austrian Airlines will reduce the number of flights which were originally planned for the upcoming season to only 30% compared to last winter.

October 6, 2020

Schramböck: "Every New Infection Is a Potential Danger for the Business Location"

Federal Minister for Economic Affairs Schramböck empasizes the importance of low infection rates for the business location. She demands more rigid measures for Vienna, which is currently the Covid-19 hotspot in Austria.

October 5, 2020

Increase of Budget for Investment Subsidies to EUR 2 Billion

The Austrian Government has announced a budget increase for investment subsidies. A high demand and investment volume in the first three weeks of the application period has lead to this decision that is welcomed by the Federal Chamber of Commerce.

September 23, 2020

European Commission Approves Further EUR 4 Billion for Austrian Companies

Further EUR 4 billion intended to help Austrian companies sustain the Covid-19 crisis were approved by the European Commission. Grants and guarantees of up to EUR 800,000 per company can be given out in cases of hardship and danger of bankruptcy.

September 22, 2020

Sacher Hotels Lay Off 140 Employees

The dramatic situation in Austria's tourism industry does not even spare one of the most prestigious hotels in Europe. The Sacher Hotels, located in Vienna and Salzburg, have announced the dismissal of 140 employees.

September 15, 2020

Eurogroup President Donohoe Met Blümel

New Eurogroup President Donohoe and Austrian Finance Minister Blümel met at a round table discussion on "Europe's Comeback". Topics were the strength of a common currency union and strategies on how to achieve the economic comeback.

September 9, 2020

EU Puts a Hold on Austria's Fixed Cost Subsidies

The European Commission has questioned Austria's newly introduced fixed cost subsidy to the surprise of many Austrian politicians and experts. Companies in the sectors tourism and export were predominantly planned to be subsidized.

September 9, 2020

New Investment Subsidy Should Encourage Businesses to Invest

In order to encourage more investments, the Ministry for Digital and Economic Affairs implemented a subsidy for new investments with focus on digitalization, life science, health and sustainability. The subsidy does not have to be paid back and businesses can apply for it from now on.

September 1, 2020

Mitterlehner: „No Economic Stimulus Package“

Austria´s Minister of Economics rejects another stimulus package for the Austrian industrial sector. The budgetary situation would not allow that, he says.

October 4, 2012

Macedonia to Stimulate Economic Growth

Due to the recession in the Eurozone, exports are shrinking. Next year, Macedonia will overcome the crisis, the local government says.

September 24, 2012

Czech Republic: EU-Subsidies to be Cut Massively

Due to EU-aid manipulation, the Czech Republic will lose at least € 1.0bn.

September 15, 2012

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

Austrian Government Presents € 27bn Austerity Package

The largest austerity package in Austria´s history mainly consists of cuts in expenditures. The government emphasized the socially balanced measures and the necessity due to reasons of competitiveness.

February 11, 2012

FPÖ Wants Cuts in Spendings

The biggest Austrian opposition party suggests reducing public expenditures in order to reduce the budget deficit. Chairman Strache calls for a “subsidy brake”.

January 30, 2012

Strache Claims Cut in Subsidies

The chairman of the Austrian opposition party FPÖ criticized the government fiercely for its fiscal policy.

January 23, 2012

Austria Grants Highest Subsidies in Europe

In 2010, subsidies amounting to 6.5% of the Austrian GDP were distributed. The EU-average is only the half.

January 7, 2012

The Westbahn Complains Because of ÖBB-Subsidies

In December, the new “Westbahn” (Western Railway) will start competing with the ÖBB (Austrian state railways) which are allegedly being privileged by the government.

February 3, 2011

WIFO: Lack of Competition in Austria

According to WIFO, lack of competition is causing a growth bottleneck in Austria and requires legal action by the government and the EU.

December 29, 2010

Study: Agricultural Subsidies Produce No Growth

The Austrian Institute of Economic Research has determined that growth in the Austrian regions is accelerated by EU regional promotional financing, but not by agricultural subsidies.

November 18, 2010

Criticism of Austria's Allocation of Subsidies

Both the volume and the organization of the allocation of subsidies are susceptible of improvement, experts say.

October 21, 2010

New Westbahn Claims Unjustified Subsidies for the ÖBB

The reason is an amendment to the Public Procurement Act, which allegedly gives preference to the ÖBB.

October 20, 2010