Austria's economy in the upswing: how to advance the reforms!

Austria's economy in the upswing: how to advance the reforms!

In a significant step towards the revitalization of the Austrian economy, the annual opening event of the company consultancy, accounting and IT (Ubit) Lower Austria took place in the Gabrium in Maria Enzersdorf. Under the title "Perspective ’25", 250 participants gathered: inside to develop a clear vision for the upswing. With top-class guests, including the WiFo boss Gabriel Felbermayr, was discussed on crucial topics such as reducing bureaucracy, labor shortages and high energy costs. As leadersnet.tv reported, Felbermayr asked how the current challenges and the recession can be overcome.

economic challenges in the focus

Gabriel Felbermayr, who has been director of the Austrian Institute for Economic Research (WIFO) since October 1, 2021, emphasized that, despite its position among the 20 richest countries in the world, Austria urgently has to implement measures to strengthen growth. The economist sees the majority of the disproportionately high bureaucratic hurdles and confusing support jungle as inhibitions for investments and innovations. Similarly, the Ubit-NÖ chairman Mathias Past, who optimistically emphasized that a future-oriented perspective was necessary to support companies in the transformation.

Felbermayr warned that "weak growth is not fate, but the result of political and economic framework". Therefore, he called for a fundamental reform of the labor market to combat the prevailing shortage of workers. According to Felbermayr, incentives for full -time employment must be created and the non -wage costs are reduced. In addition, an effective policy is necessary to combat the high energy costs, which should also bring deregulating, as he explained. Because of his comprehensive experience in economic policy and various academic positions, Felbermayr has developed a deep understanding of the challenges of the domestic economy, as can be seen in wifo .