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WIFO Austrian Institute of Economic Research
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
Trade in Austria Has Increased Since Opening of CESEE Market
Today the Austrian Institute for Economic Research (Wifo) published the “Analysis of the Austrian Balance of Trade“ on behalf of the Economic Ministry.
October 10, 2013
IMF Forecasts Only Minimal Growth for Austria in 2013
The International Monetary Fund (IMF) forecasts not even one half percent of GDP growth this year for Austria. However, 2014 has better chances for accelerated growth.
October 8, 2013
Wifo: Austrian Economy Sees Upturn
Today the Austrian Institute for Economic Research (Wifo) has released its prognosis for 2013 and 2014. The institute sees the first signs of an economic recovery.
October 4, 2013
Austria: Better off within Eurozone
Economic experts claim that since the beginning of the single currency union, Austria has seen an additional economic growth of 0.4 percent. According to them, a collapse of the Eurozone would lead to a massive decline in exports.
October 2, 2013
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Austrian Banking Package: Costs May Reach € 30bn
In total, the burden for Austrian taxpayers is expected to reach up to 10% of GDP.
October 1, 2013
Austrian Competitiveness Under Pressure
Last year, Austrian labor costs grew stronger than productivity.
October 1, 2013
Leitl: “Grand Coalition Did Not Fulfill Expectations“
Christoph Leitl, President of the Austrian Chamber of Commerce (WKO), favors a change in the governing parties as the grand coalition has not realized the necessary reforms.
September 24, 2013
Austria: Tax Burden Grows
The Austrian public revenue ratio is significantly above the average tax quota in the Eurozone. The upward trend goes on.
September 21, 2013
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