IMF Staff Country Reports

Austria: 2012 Article IV Consultation: Staff Report; Informational Annex; Statement by the Staff Representative; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria

Publication Date:

August 28, 2012

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Austria has relatively strong macroeconomic fundamentals, but also deep ties with the rest of the euro area. The legacy of an overly ambitious eastward financial sector expansion has created substantial challenges to its policymakers. Policies have been designed to preserve market confidence, increase resilience against future adverse external spillovers, and boost potential growth. The Austrian supervisory authorities have also introduced a set of macroprudential guidelines to strengthen the resilience of the banking sector. However, improvements in the fiscal governance framework have not advanced as expected.

Series:

Country Report No. 2012/251

Subject:

Bank resolution Banking Financial institutions Fiscal policy Fiscal rules Loans Public debt Social security contributions Taxes

Frequency:

Biannually