Austria: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Austria
IMF Staff Country Reports, February 12, 2016
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- Austria: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Austria
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Bibliographic details
- Published: February 12, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498327961.002
Overview and macroeconomic assessment
- Growth is estimated at 0.7 percent in 2015.
- Growth in 2015 is described as "a slight improvement over the ½ percent average in 2012–14."
- Austria has recovered from the global financial crisis, but the crisis still remains in bank and public sector balance sheets.
- Despite lackluster growth, economic slack is limited as potential growth has fallen as well.
- Strengthening external and domestic demand supported the 2015 growth outcome.
Financial-sector developments
- Major banks have been striving to strengthen their capital and profitability positions amid regulatory and supervisory reforms.
- The legacy of the crisis continues to be present on bank and public sector balance sheets.
Policy environment and governance
- The governing coalition of Social Democrats and the right-of-center People's Party holds a constructive dialogue on economic policy issues.
Thematic coverage (subjects and keywords)
- Subjects listed: Banking, Expenditure, Fiscal policy, Fiscal stance, Labor taxes, Migration, Population and demographics, Public debt, Taxes.
- Keywords include: authority, consultation discussion, CR, crisis legacy, estimate, financial market authority, Fiscal stance, Global, ISCR, Labor taxes, Middle East, Migration, money market rate, potential GDP growth estimate, rising emerging market risk.