Austria: 2011 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria

September 6, 2011

Preview Citation

Format: Chicago

Austria: 2011 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Austria, (USA: International Monetary Fund, 2011) accessed November 22, 2024

Summary

Increasing integration to the East has benefited the Austrian economy, but also created vulnerabilities that came to a head with the global financial crisis. The crisis has highlighted old challenges and created new ones that need to be addressed. The banking sector’s return to more normal levels of profitability creates the conditions for a further build-up of high-quality capital and exit from government support. Policies to foster labor market participation by low-skill workers and human capital accumulation would increase long-term growth.

Subject: Banking, Commercial banks, Financial institutions, Income, Loans, National accounts, Nonperforming loans, Public debt

Keywords: CESEE region, Commercial banks, Commodity price development, Consultation discussion, CR, Crisis well, Global, Government support, Growth, Heightened financial market turbulence, Income, ISCR, Loans, Nonperforming loans, Price

Publication Details

Pages:

64
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2011/275
Stock No:

1AUTEA2011001
ISBN:

9781463902841
ISSN:

1934-7685

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