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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

Journal Issue

Volume/Issue:: 2012/251
Series:: IMF Staff Country Reports
Author(s):: International Monetary Fund
Publisher:: INTERNATIONAL MONETARY FUND
Published Date:: August 2012
DOI:: http://dx.doi.org/10.5089/9781475506778.002
ISBN:: 9781475506778
ISSN:: 1934-7685
Page:: 59

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.

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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