Cover IMF Staff Country Reports
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
Author: International Monetary Fund
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2011: Issue 275
Language:
English
Publication Date:
06 Sep 2011
DOI:
https://doi.org/10.5089/9781463902841.002
ISBN:
9781463902841
ISSN:
1934-7685
Pages:
64
Keywords:
ISCR; CR; commodity price development; heightened financial market turbulence; price; growth; CESEE region; government support; crisis well; consultation discussion; Commercial banks; Loans; Income; Nonperforming loans; Global
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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.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund