The 2015 Article IV Consultation discusses the key issues related to the economy of Austria. Austria has recovered from the global financial crisis, but the crisis still remains in bank and public sector balance sheets. Major banks have been striving to strengthen their capital and profitability...

This paper reviews two main issues pertaining to Austrian economy: (1) Austria's long-term fiscal sustainability in light of current tax and expenditure trends, and (2) Austria's macroeconomic challenges and opportunities due to immigration. To maintain fiscal sustainability over the longer run,...

Austria entered the crisis from a strong position. Prudent policies prior to the pandemic provided significant policy space. Several lockdowns helped contain the virus but significantly impaired the economy. Real GDP contracted by 6.3 percent in 2020 and declined further in early 2021. The 2021...

This 2016 Article IV Consultation highlights that the economic recovery in Austria has strengthened in 2016. GDP growth in 2016 is estimated at 1.4 percent, an improvement over the average growth of 0.6 percent in 2012-15. Growth has been broad-based, driven by private consumption supported by...

This Selected Issues paper discusses structural and fiscal reforms in Austria that could increase potential output. Structural measures focused on further liberalization of professional services, and lowering of the barriers to trade and investment to increase potential output. Although Austria...

This paper evaluates the state of fiscal transparency in Austria. Austria has built strong fiscal institutions over the past decade, notably through the budget reforms introduced in 2009 and 2013, which have significantly improved fiscal transparency. Many elements of sound fiscal transparency...

This paper presents Austria's 2019 Financial System Stability Assessment. The Austrian authorities have proactively strengthened the financial stability framework since the previous Financial Sector Assessment Program (FSAP). The FSAP analysis suggests that banks are, in aggregate, resilient to...

This technical note on Austria focuses on bank resolution and crisis management. This note assesses and makes recommendations regarding bank resolution and crisis management arrangements. The scope of the assessment includes the institutional arrangements for recovery, resolution, and crisis...