The Austrian economy has stagnated since the second quarter of 2012. Energy prices have helped lower inflation, but core inflation is stable. The labour market has performed strongly, but challenges lie ahead. Fiscal consolidation has slowed down in 2014 due to the cost borne by the government for the financial sector, which translated into higher deficit and debt ratios. Despite a solid, but moderate current account surplus, Austria has suffered a pronounced loss in world trade market shares.
While the economy is free of major imbalances, maintaining competitiveness and long term growth prospects requires constant attention and consistent policy efforts.
Read a complete analysis of Austria's economy in the country report 2015 [445 KB]
2015 recommendations in brief
The Commission has made four country-specific recommendations to Austria to help it improve its economic performance. These are in the areas of: public finances, taxation and pensions; labour market and education; services; financial sector.