AUSTRIA

摘要

A gradual recovery is underway. For the first time since 2011, growth is projected to exceed 1% in 2016 and to strengthen further in 2017. The recent tax reform will boost private consumption. Investment growth has turned positive and is expected to strengthen further on the back of historically low interest rates and low oil prices. Completing orderly wind-downs of failed banks is important to revive confidence, reduce the financial links between banks and the public sector, and strengthen the banking sector. Remaining subsidies to early retirement should be eliminated to raise employment of the elderly, especially women, closer to the OECD average. Rapid integration of migrants in the labour market would entail benefits for social cohesion, growth and Austria's fiscal position.