IMF Artikel IV und FSAP

The Austrian economy has continued to perform relatively well. Growth of real GDP averaged 1 percent during 2001-03, unemployment is among the lowest in the EU, and competitiveness remains strong. Also, a gradual recovery is underway and short-term economic prospects are positive, although risks remain. In a major shift from the policies of the 1990s, the authorities have adopted an ambitious strategy aiming at balancing the budget over the cycle, reducing the tax burden to 40 percent of GDP by 2010, containing fiscal pressures from population ageing, and increasing Austria’s growth potential. Concrete achievements so far include the first (small) fiscal surplus in over 30 years in 2001, followed by three years of structural budget balance; a major pension reform in 2003; a wave of privatizations and deregulation in product and labor markets; and tax reforms in 2004-05. …