WIFO Austrian Institute of Economic Research

How the War in Ukraine Affects Austrian Businesses

Besides causing enormous humanitarian and political problems, the Russian invasion has also caused a chain reaction in the economy that has been felt worldwide. Austrian Institute of Economic Research (WIFO) published a survey that examines exactly these questions in order to determine how strongly Austrian companies feel the crisis impacts them and which sectors are most affected.

July 19, 2022

Weekly Briefing: Diplomacy and State Visits in Vienna

Read about the newest developments in Diplomacy in Vienna and Austria. The Dutch Royal Couple visited Austria and International Organizations in Vienna released important publications. The consequences of the Russo-Ukrainian War are making themselves felt in security issues and are changing people's lives in Vienna as well. Further, the newest developments in the Iran Nuclear talks raise hopes. The Find out more about this week's developments.

June 30, 2022

Why Austria's Economic Recovery is Losing Momentum

According to the Austrian Institute of Economic Research (WIFO), the global economic slowdown, which mainly affects industry, has dampened Austria's economic outlook. This downturn is only dampened by tourism, which has recovered better than expected since the Covid-19 pandemic.

June 30, 2022

Think Tank: Concerns About EU Sanctions Against Russian Oil and Gas

For some time now, the business community has been complaining about the lack of information on how gas and oil will be distributed sensibly in the event of a supply freeze from Russia. The Austrian Economic Research Institute (WIFO) is also concerned about the future of the energy supply and discusses possible solutions.

May 29, 2022

War in Ukraine Continues to Dominate Austria's Economic Outlook

In a recently published report, the Austrian Institute of Economic Research (WIFO) gives an insight into Austria's economic situation and forecasts the development of the economy over the next few years. The Omikron wave and the war in Ukraine will continue to slow down Austria's economic growth in the next few years and no relief is expected for the time being. Nevertheless, there is also good news concerning the labour market.

May 12, 2022

How the War in Ukraine Affects German-Austrian Trade Relations

After a Corona-induced decline in trade between Germany and Austria, the situation seemed to settle down again in 2021. However, high expectations for growth have recently been depressed by the Russian invasion of Ukraine. A brief analysis.

May 2, 2022

6.8% Inflation: How Private Households are Affected by Rising Prices

Inflation in Austria remains historically high and is pushing many households to their limits. Whether it's high gasoline prices or horrendous living costs, everyone is feeling the inflation. How the average household is affected by these problems and what impact they have on lower-income households, read here.

April 20, 2022

Uncertainty due to Ukraine War: Austria's Tourism Industry Lowers High Expectations for 2022

Austria's tourism industry is facing another setback after 2 tough years. Uncertainty caused by the Russian war of aggression in Ukraine and the related increase in economic problems could have an impact on tourism and thus also on the economy in Austria.

April 7, 2022

Austria Presents Financial Budget for 2022

Austrian Finance Minister Gernot Blümel presented Austria's draft financial budget for 2022 to the Austrian Parliament in the form of the annual budget speech. The plan includes tax reforms, budget increases for various ministries, estimates regarding the COViD-19 crisis, and more. Read some of the specific provisions in the budget outlined by the finance minister.

October 14, 2021

WIFO Director Badelt Sees Climate Issue as "Biggest Problem for Austrian Economy"

The Austrian Institute of Economic Research (WIFO) director Christoph Badelt emphasizes the need for public discussion of the current climate crisis and demands a "comprehensive transformation process" driven by Austria's Environment Minister Leonore Gewessler in order to battle the ongoing climate change.

February 26, 2021

Brexit Agreement: Austria's Economy Significantly Better Off

The Austrian Institute of Economic Research (WIFO) has issued a study in which the effects of the post-Brexit trade agreement between the United Kingdom and the European Union was compared to a no-deal scenario. The results of the study show that the Austrian economy be happy with the negotiated agreement.

January 14, 2021

WKO Heads Demand Clear Plan for Path to Normality

The heads of Austria's Federal Economic Chamber demand a clear plan that shows a step-by-step path to normality. They demand regular mass testing, where negative test results are connected to more freedoms. According to them, the lockdown immediately after Christmas will hit many companies particularly hard.

December 18, 2020

Eurostat: Austria Is Second in EU With Research Expenditures

In its recent publication, the statistical office of the European Union, Eurostat, put Austria on second place for research expenditure relative to GDP. Austria has invested 3.19 percent of its gross domestic product in R&D, which is only surpassed by Sweden with 3.39 percent of the country's GDP.

November 27, 2020

"Massive New Debt" in 2021

Federal Minister Blümel announces massive new government borrowing for next year in order to tackle the ongoing Covid-19 crisis. He hopes to return to meeting the Maastricht criteria again in the next years.

September 7, 2020

After Discussions in Austria: IHS and WIFO Against Statutory Reduction of Working Hours

Austrian economic research institutes IHS and WIFO are both against a reduction of working hours. According to the experts, training and retraining for the unemployed would be better approaches.

August 26, 2020

Austria: Is Spindelegger Suitable as Finance Minister?

On Tuesday the Austrian Finance Minister will hold his first budget speech. Initial figures reveal record debt levels.

April 28, 2014

Austria: Government Wants “Restrictive Budget Performance”

Today the Austrian government has decided upon a “restrictive budget performance.

April 8, 2014

Austria: “Financial Crisis is Not Yet Over”

Deputy Chancellor and Finance Minister Michael Spindelegger considers the financial crisis not to be completely over.

April 2, 2014

Leitl: “Growth Must Not Mean Less Reforms”

Economic growth is now weaker than in the previous phases of upturn.

March 28, 2014

Austria: Economic Growth Slowly Getting in Gear

Wifo (Austrian Institute of Economic Research) projects economic growth in Austria to revive again only at the end of this year.

March 27, 2014

Wifo Warns European Council of Economic-Policy Standstill

The Austrian Institute of Economic Research sharply criticizes the current economic policy of the European Union and calls for a change of course to reach the self-defined targets.

March 19, 2014

Hypo Group: Losses Expected to Run into Billions

Hypo Group Alpe Adria is expected to reveal losses of around € 2bn in the balance sheet for the business year 2013. Up to now, losses in the amount of € 1.3bn were expected.

March 12, 2014

Wifo: Economic Recovery Lacks in Momentum

Economic growth in the Eurozone is still without a major drive. In Austria too, economic recovery is still restrained.

March 11, 2014

Austria: Tax Increases to be Resolved

The Austrian National Assembley will resolve tax increases.

February 24, 2014

Austria: Wifo Projects Gloomy Economic Outlook

A restrained economic growth, high unemployment rate and measures for the consolidation of the state budget are the factors which affect the economic development on a medium-term.

February 21, 2014

Austria: Economic Growth Accelerates

In the fourth quarter in 2013 GDP increased by 0.3 percent compared to the previous quarter and by 0.9 percent year-on-year.

February 14, 2014

IHS Rejects Hypo Group’s Bankruptcy

According to Keuschnig, it is also a question about a “national bankruptcy“.

February 13, 2014

Wifo: Recovery Continues

Early indicators by the Austrian Institute of Economic Research (Wifo) point to a gradual recovery of the economy both in the European Union and in Austria.

February 11, 2014

Austria Inflation Rate Dropped in 2013

Last year the overall annual inflation rate dropped to 2.0 percent after 2.4 percent in the previous year.

January 16, 2014

Nowotny Sees Growth Potential in Eurozone and CEE

According to Ewald Nowotny, governor of the Austrian National Bank (OeNB), the outlooks for economic upturn in the Eurozone and Central/Eastern Europe have improved significantly compared to only a year ago.

January 14, 2014

Austria: Wifo Expert Calls for Structural Tax Reform

According to Wifo-expert Schratzenstaller, the planned tax burdens on tobacco and automobiles are “largely useful”.

January 10, 2014

CEE: Economic Sentiment Cautiously Optimistic

The economic sentiment for Eastern European countries is becoming more optimistic, however, only cautiously. Poland is on top of the list of economists at JP Morgan.

January 2, 2014

Austria: Unemployment Rate at Record High

Last year the unemployment rate in Austria recorded its highest level in 60 years.

January 2, 2014

„Such Growth Rates Will not Return“

In an interview with the Austrian daily “Presse”, economist Karl Aiginger explains that the worst should be over. The reform pressure on the Austrian government is enormous.

December 30, 2013

Wifo: Sluggish Growth Because of Weak Consumption

According to Wifo’s (Austrian Institute of Economic Research) prognosis for the coming years, economic upturn in Austria will remain flat because of weak consumption.

December 19, 2013

Austria: Budget Contradiction Causes Irritation

Opposition demands immediate resignation of Finance Minister Fekter.

November 20, 2013

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

Fekter: Austrian Budget Gap Based on Unfavorable Economic Forecast

Yesterday afternoon current Finance Minister Maria Fekter and State Secretary of Finances Andreas Schieder met with the parliamentary budget committee. The opposition parties demanded answers and clarification in regard to the budget gap.

November 19, 2013

“Bank Aid for Hypo Group Is too Late“

The Austrian economist Franz Hahn argues that capital injections into Hypo Group Alpe Adria are ineffective.

November 16, 2013

Hypo Bad Bank Not to be Established Before 2014

Insiders do not expect the downsizing unit for state-owned Hypo Group Alpe Adria to be established before 2014.

November 15, 2013

Austria: Slight Economic Growth

The Austrian Institute for Economic Research (Wifo) has forecast an increase of the macroeconomic production by 0.2 percent in real terms compared to the previous quarter.

November 14, 2013

Stable Outlook for Recovery of Austrian Economy

The outlook for economic improvement has stabilized. Both Wifo’s economy test and Wifo’s early indicator point to an upward trend.

November 8, 2013

Austria: New Austerity Package to Come?

Austrian economists expect that the new government will draft another austerity package. Otherwise the fiscal objectives will not be achieved.

November 6, 2013

Austria: Compulsory Levy on Assets Simply “Out of Question“

Top bankers and economists in Austria consider the compulsory levy of ten percent on household assets “out of question” and “ludicrous”.

November 5, 2013

IMF Wants to Introduce Compulsory Tax

IMF’s idea of introducing a compulsory tax on household assets could decrease state debt earns harsh criticism. Economists reject the idea.

November 4, 2013

Eurozone: Economy Starting to Grow

Experts at Ernst&Young; forecast economic growth of 0.9 percent in 2014 in consequence of an improved global economic performance.

October 21, 2013

Mitterlehner: “2014 Will Become Significantly Better“

Austrian Minister for Economy Reinhold Mitterlehner considers the Austrian economy to be in a spirit of optimism as an upturn in Europe has become evident. According to him, 2014 is supposed to become “significantly better” than 2013.

October 17, 2013

Austrian Industrial Sector Well Positioned in International Competition

In 2012, the Austrian industrial sector was well positioned in the international competition, according to a study by the Austrian Institute for Economic Research (Wifo).

October 14, 2013

Austria: Venture Capital Market is Underdeveloped

According to the Austrian Institute of Economic Research (WIFO), more funds for start-up enterprises would help boosting the economy.

October 11, 2013

Technologic Leadership Is the Driving Factor for Foreign Trade

According to the Austrian Institute of Economic Research (WIFO), Austria benefits substantially from the technologic innovation in the last decades and the opening the CESEE region.

October 11, 2013
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