Austria: 2012 Article IV Consultation: Staff Report; Informational Annex; Statement by the Staff Representative; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria

August 28, 2012

Preview Citation

Format: Chicago

Austria: 2012 Article IV Consultation: Staff Report; Informational Annex; Statement by the Staff Representative; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria, (USA: International Monetary Fund, 2012) accessed November 21, 2024

Summary

Austria has relatively strong macroeconomic fundamentals, but also deep ties with the rest of the euro area. The legacy of an overly ambitious eastward financial sector expansion has created substantial challenges to its policymakers. Policies have been designed to preserve market confidence, increase resilience against future adverse external spillovers, and boost potential growth. The Austrian supervisory authorities have also introduced a set of macroprudential guidelines to strengthen the resilience of the banking sector. However, improvements in the fiscal governance framework have not advanced as expected.

Subject: Bank resolution, Banking, Financial institutions, Fiscal policy, Fiscal rules, Loans, Public debt, Social security contributions, Taxes

Keywords: Asia and Pacific, Central and Eastern Europe, Consultation discussion, CR, Deceleration, Eastern Europe, Fiscal rules, Flash estimate, Flash release, GDP series, Global, Growth, ISCR, Loans, Middle East, Social security contributions, Staff appraisal, Western Hemisphere

Publication Details

Pages:

59
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/251
Stock No:

1AUTEA2012001
ISBN:

9781475506778
ISSN:

1934-7685

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