Sink flight electricity prices: Stocker's plan for the next 100 days!

Sink flight electricity prices: Stocker's plan for the next 100 days!

Austria's Chancellor Christian Stocker has made a comprehensive record of his first 100 days in office in a recently managed interview. In the coalition, which consists of the ÖVP, SPÖ and NEOS, Stocker is satisfied, but emphasizes that the assessment of his work should be carried out by others. The 65-year-old announced that he will regulate his times of sleep and meal in order to better meet the requirements of his position. A balanced budget for the years 2025 and 2026 has already been put together, with the government focused on another savings package.

The challenges for the government are considerable. Experts warn that the need for savings may still increase. According to Stocker, the People's Party intends to relieve the lower third of the income, although the budget service found that it could particularly affect the lower income groups. The inflation rate is currently 3 %, a decline compared to 11.2 % in January 2023. Nevertheless, the high electricity prices are a pressing problem, and Stocker plans to introduce measures to cushion these costs.

Focus of government work

In a first study course of the federal government, extensive strategies for boosting the economy were discussed. Here, too, the coalition emphasizes a clear need for action. The participating experts, including Holger Bonin from IHS and Gabriel Felbermayr from WIFO, underlined the need for a fundamental realignment of economic and industrial policy. One central goal is to stabilize the economy again by the end of 2025 and bring back to growth course after GDP has shrunk by around 1.2 percent in 2022.

In the current legislative period, savings goals of 6.3 billion euros have been determined by 2025 and 8.7 billion euros by 2026. These financial measures are part of a comprehensive plan to support the construction sector and to create affordable living space, which is particularly important in the face of the challenges in the construction system. Increasing construction costs and high interest rates make it difficult for potential home buyers.

The future of Austria's economy

According to a current economic forecast, a slow but positive economic growth for 2024 and 2025 is expected. GDP growth signaled a possible recovery that could be significantly influenced by rising real wages and falling interest rates. Experts emphasize that the promotion of investments and strengthening the labor market are essential to ensure the competitiveness of the Austrian economy. This idea was also supported by Foreign Minister Beate Meinl-Reisinger, who emphasizes the need to open up new export markets and to focus on the development of an industrial and location strategy.

Finally, it can be stated that the new government faces complex challenges that require quick action and innovative solutions. In view of the global economic uncertainties, it is important to find creative approaches to lead Austria to a climate -neutral economy and at the same time to improve the living conditions of the citizens. The next few months will be crucial for whether the goals set can be achieved.