It will take another two years until the Austrian economy grows by two per cent, a Viennese institute has warned. The Institute for Economic Research’s (WIFO) five-year forecast – which was presented yesterday (Mon) – shows that the Austrian economy could grow by two per cent from 2013 to 2014. WIFO research reveals that the […]
Semperit boss Thomas Fahnemann has said he expected next year to be “significantly more difficult”. Fahnemann told the Kurier today (Tues) the economy would not suffer as dramatically as in 2009. However, the German businessman warned that the economic environment might worsen next year compared to 2011. Semperit is a leading manufacturer of medical gloves, […]
Young Austrians’ views are strongly influenced by hostility to strangers and concerns caused by the economic crisis, according to researchers. The Institute for Youth Culture Research spoke with 400 residents of Vienna aged between 16 and 19 to find that 43.6 per cent of them agreed with the claim that “there are way too many […]
The Austrian economy will grow less strongly than initially expected, according to the Organisation for Economic Co-operation and Development (OECD). OECD research shows that Austria’s gross domestic product (GDP) will rise by 0.6 per cent from 2011 to 2012. Only in May, the organisation announced it expected the GDP to climb by 2.1 per cent. […]
News of a decline of cargo shipping at Vienna International Airport (VIA or VIE) may confirm analysts’ warnings that the economic crisis is not over. A spokesman for the aerodrome – which is located a few kilometres outside Vienna – said today (Thurs) that the volume of cargo transported to and from VIA declined by […]
People’s Party (ÖVP) Economy Minister Reinhold Mitterlehner has revealed that Austria would acquire banking stocks to save the finance institutes from ruin in the worsening economic crisis. Mitterlehner told national broadcaster ORF yesterday (Sun) that the Republic of Austria was ready to buy bank shares in a worst case scenario. Assumption of liabilities and paying […]
Günter Verheugen has launched a scathing attack on German Chancellor Angela Merkel over her actions in the European debt crisis. The former vice president of the European Commission (EC) told Austrian magazine profil the situation would be different today had Merkel said from the start that Europe would let no member of the European Union […]
An influential rating agency has warned Austria about its high state debt. Fitch announced yesterday evening (Mon) Austria needed to act more ambitiously against its steadily increasing high debt rate. The agency claimed the Alpine country would be better protected against economic setbacks in the future if it started to get active now. Austria’s debts […]
Austrian People’s Party (ÖVP) Finance Minister Maria Fekter has emphasised that private companies should get on board to rescue Greece. The cash-strapped Eurozone and European Union (EU) member state is seen on the brink of bankruptcy by a growing number of financial market experts. Many commentators fear the southern country will be unable to pay […]
The Austrian economy seems to reassert itself, new figures presented by a creditors’ protection organisation show. The Creditors’ Protection Association of 1870 (KSV) said today (Weds) that 1,672 companies declared bankruptcy in the first half of this year. This is a three per cent decrease compared to the first six months of 2010, according to […]