Austria : 2014 Article IV Consultation: Staff Report: Press Release: and Statement by the Executive Director for Austria.

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...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, 2014.
Colección:IMF country report ; no. 14/278.
Temas:
International Monetary Fund > Austria.
International Monetary Fund
Banks and banking > Austria.
Debts, Public > Austria.
Economic forecasting > Austria.
Dettes publiques > Autriche.
Prévision économique > Autriche.
BUSINESS & ECONOMICS > Economics > General.
BUSINESS & ECONOMICS > Reference.
Banks and banking
Debts, Public
Economic forecasting
Economic history
Economic policy
Austria > Economic conditions.
Austria > Economic policy.
Autriche > Conditions économiques.
Autriche > Politique économique.
Austria
Acceso en línea:Texto completo
Descripción
Sumario: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.
Notas:"July 31, 2014"--Page 2 of pdf
"September 2014."
Descripción Física:1 online resource (73 pages) : color illustrations
Bibliografía:Includes bibliographical references.
ISBN:1498395597
9781498395595

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