European Parliament Library

Austria, 2010 Article IV Consultation - Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria, International Monetary Fund

Austria’s recession had limited effects on unemployment. Investment declined sharply but consumption helped cushion the recession, supported by tax cuts and various labor market measures together with large increases in real wages. Austria’s fiscal position has weakened significantly in recent years, although to a lesser extent than the euro area average. The authorities’ plan to embark on a decisive fiscal consolidation path is welcomed. They recognized, however, that reducing the share of foreign exchange loans, while providing continued financing to central and southeastern Europe, will be challenging
Table Of Contents
Cover; Contents; I. The Context; II. Recent Developments and Outlook; A. The Crisis; B. Recovery and Uncertainties; C. Medium-Term Perspectives; Boxes; 1. 'Boom-Bust' in CESEE and Implications for Austria; 2. The Austrian Labor Market: Issues and Challenges; III. Fiscal Policy: From Stimulus to Consolidation; 3. Fiscal Spending and Outcomes; 4. Fiscal Federalism and the Austrian Stability Pact; IV. Financial Sector: Managing Remaining Risks and Strengthening Financial Stability; V. Staff Appraisal; Tables; 1. Basic Data, 2005-11; 2. Medium-Term Macroeconomic Framework, 2007-15
Literary Form
non fiction
First edition.
Description based upon print version of record
Physical Description
1 online resource (50 p.)
Specific Material Designation
Form Of Item

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