| Description |
1 online resource (73 pages) : color illustrations. |
|
text file |
| Series |
IMF country report ; no. 14/278
|
|
IMF country report ; no. 14/278.
|
| Note |
"September 2014." |
|
"July 31, 2014"--Page 2 of pdf. |
| Bibliography |
Includes bibliographical references. |
| Summary |
KEY ISSUES Context: Austria did not experience a severe boom-bust cycle and came through the crisis relatively well. The main impact was on the banking sector and public debt. With cyclical slack low and the recovery taking hold, this is the time to resolve crisis legacies and address long-standing structural issues. Outlook and risks: The recovery is taking hold, driven by a pick-up in exports. The most acute risks are mainly geopolitical and could in particular lead to financial spillovers. Financial sector policies: Bank restructuring should now be rapidly completed and bad asset disposal accelerated. Large internationally active banks should stand ready for further capital increases, and the EU banking union framework needs to be swiftly transposed at the national level. Public expenditure reforms: More decisive expenditure reforms in key areas such as pensions, health care, subsidies, and fiscal federalism would generate savings that could be used for both an accelerated debt reduction and lower labor taxation. Boosting potential output growth: Enhancing IT adaptation, improving the performance of the education system, facilitating access to financing for innovative start- ups, and reducing administrative barriers for new businesses would raise potential growth and labor productivity. |
| Local Note |
eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America |
| Subject |
International Monetary Fund -- Austria.
|
|
International Monetary Fund. |
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Austria. |
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Austria -- Economic conditions.
|
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Economic conditions. |
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Austria -- Economic policy.
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Economic policy. |
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Economic forecasting -- Austria.
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Economic forecasting. |
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Banks and banking -- Austria.
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Banks and banking. |
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Debts, Public -- Austria.
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Debts, Public. |
| Genre/Form |
Electronic books.
|
| Added Author |
International Monetary Fund.
|
| Added Title |
Austria, 2014 article IV consultation |
| Other Form: |
Print version: International Monetary Fund. Austria : 2014 article IV consultation-staff report; press release; and statement by the executive director for Austria. Washington, District of Columbia : International Monetary Fund, c2014 58 pages IMF country report ; Number 14/278. 9781498333726 |
| ISBN |
9781498395595 (electronic book) |
|
1498395597 (electronic book) |
|
9781498333726 |
|
