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WIFO Austrian Institute of Economic Research
Austria: GDP Decrease Due to Declining Consumption
In the fourth quarter of 2012, Austria´s economy shrank by 0.2%. In the full year 2012, Austria´s GDP expanded by 0.7%.
February 14, 2013
Austrian Governing Parties Disagree on EU Budget
The Austrian people´s party (ÖVP) has criticized Federal Chancellor Werner Faymann (SPÖ). The social democrats argue that the coalition partner ÖVP has “no team sprit”.
February 11, 2013
Austria: Economic Sentiment on the Rise
The Austrian Institute of Economic Research (WIFO) underlines that the economic slowdown comes to a standstill.
February 8, 2013
WIFO: Austrian Economy to Grow Slowly
In the next years, Austria´s economy will recover gradually, the Austrian Institute of Economic Research says.
January 25, 2013
WIFO Wants Higher Property Taxes
Karl Aiginger, director of Austrian Institute of Economic Research, suggests reducing wage taxes.
January 21, 2013
Aiginger Praises and Criticizes Austria´s Economic Policy
Although Austria´s economic situation is relatively satisfying, there is much improvement potential, the economist Karl Aiginger says.
January 5, 2013
Cautious Growth Forecasts for Austrian Economy in 2013
Austria's economic research institutes predict an economic rebound from 2013. Consulting firm Ernst & Young has also forecast slight growth for Austria in 2013.
December 29, 2012
WIFO: „Shut Down Hypo Group“
The Austrian Institute of Economic Research (WIFO) recommends closing the nationalized banking group. The number of banks is expected to shrink radically.
December 27, 2012
Austrian Economy: IHS and WIFO Cautiously Optimistic
The two Austrian economic research institutes anticipate an economic recovery in the second half of 2013.
December 21, 2012
Ernst & Young: Austria Almost Stagnates
Next year, Austria only will grow by 0.9%, the consulting group says.
December 19, 2012
WIFO: South Europe Needs New Industrial Policy
The Austrian Institute of Economic Research (WIFO) stresses that Spain, Greece and Portugal need new growth measures instead of austerity cuts.
December 15, 2012
„Austria Grows Stronger than Expected“
According to the economic research institute Synthesis, Austria´s economic growth is higher than WIFO and IHS say. The employment situation would be too good.
December 13, 2012
WIFO: South Europe Needs Change in Strategy
The Austrian Institute of Economic Research (WIFO) underlines that the austerity policy in South European countries did not help at all.
December 12, 2012
Austria Might Prevent Recession Scenario
According to the Austrian Institute of Economic Research (WIFO), Austria´s economic performance remains weak.
December 10, 2012
Austrians Reject Further Bank Aids
About 61% of the Austrian citizens are against further bank aids by the Austrian state. Economists fear that the bank aids are lost forever.
November 28, 2012
KA Finanz: Capital Shortfall to Become Bigger
The financially stricken bank is expected to need further cash contributions.
November 24, 2012
Nowotny: GDP Forecast Will not Hold
The governor of Austria´s National Bank Ewald Nowotny admits that the forecast on Austria will have to be revised.
November 21, 2012
FMA: „Austria is Open to Blackmail by Banks”
Kurt Pribil, director of the Austrian Financial Market Authority, thinks that the nationalization of banks has shown that the Austrian state is still under pressure.
October 23, 2012
Banking Package: Austria to Lose Billions
Hannes Androsch, member of the publicly owned bank holding company Fimbag, fears that Austria´s losses will be substantial.
October 22, 2012
Austrian Budget: Experts Call for Further Reforms (Part 3)
Economists think that the budget does not contain enough reform steps. The opposition does not see any signs of progress.
October 16, 2012
Austrian Budget: Experts Call for Further Reforms (Part 2)
Austrian economic research institutes criticize the state budget and want the government to show more ambition.
October 16, 2012
Austria May Escape the Crisis
According to the latest forecast by IMF, expected economic growth in Austria comes at 0.9% this year. In the CEE countries, an average economic growth of 2.0% is forecasted.
October 9, 2012
Flat Tax in Austria?
The Austrian opposition party presented a “fair tax” model. The other parties criticized the proposal fiercely.
October 6, 2012
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
WIFO: Economic Outlook for Austria Worsens
According to the Austrian economic research institute WIFO, the economic framework conditions indicate a further slowdown.
September 28, 2012
Austrian Unit Labor Costs Down
Austrian enterprises become more competitive. Last year, unit labor costs were down by 4%.
September 26, 2012
Banking Package: Costs up to € 4.8bn
The Austrian Audit Court expects that the banking package will be much more expensive than it was said before. Moreover, the Audit Court criticizes the government massively. The control mechanism would be too weak.
September 26, 2012
Austrian Employment Growing Moderately Until 2016
The Austrian economic research institute WIFO forecasts that 173,000 new jobs will be created until 2016.
September 25, 2012
VBAG to Cut More than 1,000 Jobs
Today, the Austrian problem bank announced to sharpen its austerity program radically. Until 2017, VBAG must be downsized to the half of its current size.
September 21, 2012
Costs of Austrian Banking Package: € 2.36bn
Since 2008, the Austrian government has resolved rescue packages worth € 21bn. Expenses totaled € 4.169bn, revenues reached € 1.814bn.
September 19, 2012
Austrian Economy to Stagnate
In the third quarter of 2012, economic growth in Austria will come to zero, Bank Austria says.
September 14, 2012
Euro-Crisis Enters Austria
In the second quarter, the Austrian GDP only grew by 0.1%, WIFO says (Austrian Institute of Economic Research). A recession is not excluded anymore.
September 10, 2012
Grexit: Aiginger Warns of Shock in the Balkan Region
Wifo´s (Austrian Institute of Economic Research) director Karl Aiginger thinks that a Greek exit would not only cause big problems for Greece itself, but for the whole Balkan region.
August 21, 2012
Further Increase in Austrian National Debt
Due to the European debt crisis, Austria´s public debt level will increase from 72.2% to 74.7% of the country´s GDP.
July 16, 2012
WIFO Wants Unlimited Firewall
According to the Austrian Institute of Economic Research, the firewall must be big enough in order to make speculation against the euro unattractive.
June 28, 2012
Slow Growth in First Quarter
In the first three months of 2012, the Austrian economy grew by 0.3% against the prior quarter. The outlook is very cautious.
June 9, 2012
Austrian Chamber of Economics Claims Growth Package
Christoph Leitl, President of the Austrian Chamber of Commerce thinks that Austria and Europe would both need growth and austerity measures.
May 25, 2012
Austrian Economy Grows Slowly
After a period of stagnation, the Austrian economy showed a small growth rate of 0.2% in the first quarter of 2012.
May 15, 2012
Stable Development of Austrian Economy
The Austrian Institute of Economic Research (WIFO) forecasts a decent, but stable economic growth in 2012.
May 10, 2012
Psychic Diseases: Costs of € 3.3bn
The number of staff away sick in Austria rose by 100% since 1995.
April 11, 2012
Failed Austerity Package: „Austrian Rating Not Affected“
Bernhard Felderer, director of IHS (Institute of Advanced Studies) thinks that the incomplete austerity package has no effect on Austria´s prospects to return to the Triple-A status.
April 7, 2012
Economic Upswing for Austria?
The economic research institutes IHS and WIFO anticipate that the Austrian economy accelerates by summer 2012. Both warn of “too much euphoria”, however.
March 29, 2012
Budget: Wifo Misses Future Investments
The Austrian Institute of Economic Research (Wifo) commented the government´s draft of the budget. There is still a lack in active fiscal policy, Wifo states.
March 26, 2012
Banks have CEE-Subsidiaries „Under Control“
RBI´s CEO Herbert Stepic criticizes the skepticism against banking in Central and Eastern Europe. The economist Aiginger sees more advantages than risks for Austrian banks.
March 21, 2012
WIFO Forecasts Economic Stabilization
The Austrian Institute of Economic Research (WIFO) expects a slight improvement in the Austrian economic development. Upward indicators become more significant.
March 9, 2012
„Banks are the Real Austrian Problem“
The Austrian opposition criticizes the rescue of VBAG by the government massively. Further bank aids are feared.
February 28, 2012
Austerity Package Has Lack in Structural Reforms
The industrialists regard the Austrian austerity package even-tempered. WIFO misses structural reforms.
February 11, 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
Problems on European Level as Burden for Austria
Over the last months, the European economy lost its impetus, which is a major burden for the Austrian economy.
February 9, 2012
Low Growth Rates Expected after 2012
In a medium-term forecast, the Austrian Institute of Economic Research (WIFO) expects only very decent economic growth rates.
January 23, 2012
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