71. Economic Survey of Austria, 2005
- Publication Date:
- 05-2005
- Content Type:
- Policy Brief
- Institution:
- The Organisation for Economic Co-operation and Development
- Abstract:
- The Austrian economy has demonstrated the capacity to take advantage of positive external developments. Important challenges remain, however, in two areas: Fiscal performance needs to be improved despite substantial progress in securing the sustainability of government finances: government debt is still relatively high, fiscal consolidation also incorporates significant one-off measures and fiscal federal relations are often inefficient. Trend growth is still held back by low labour force participation of older workers – also a potential source of future growth deceleration, high seasonal inactivity, relatively weak productivity growth in the services and a sub-optimal environment for innovation activities.
- Topic:
- Development, Economics, and Government