"The problems on all fronts are not getting smaller," said the President of the Fiscal Council and Productivity Council, Christoph Badelt, on Thursday during a background discussion on the productivity report. "It is all the more important that we have a new government as soon as possible."

Economic Problems "Structural" for Fiscal Council Chairman Badelt

Should a new capable federal government be established, the Fiscal Council and Productivity Council intends to "very quickly" approach the responsible ministers and their cabinets to "raise awareness of the problems," according to Badelt. The Productivity Council, established in 2022, sees Austria's competitiveness at risk, also due to shortcomings in digitalization and energy policy. In its productivity report published at the end of November 2024, the council gave the future government twelve recommendations, including a comprehensive digitalization initiative and a faster expansion of renewable energies. "For more competitiveness, it is crucial to create the framework conditions for increasing productivity," said the outgoing Minister of Labor and Economy Martin Kocher (ÖVP) at the media event. The problems of the Austrian and European economy are primarily "structural." Last December, the Fiscal Council recommended that the government accompany public spending with "a quickly effective consolidation from the start with long-term structural reforms." In response to a question, Badelt explained that the Fiscal and Productivity Council, as an advisor, is "not involved in the coalition negotiations." The newly elected National Council is to discuss the productivity report in February.

(APA/red)

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