Stability Programme

Austrian Stability Programme for the period 2009 to 2013

In accordance with Regulation (EC) No 1466/97, amended by Regulation 1055/2005, Member States are required to submit a stability programme (members of EMU) or a convergence programme (non-members). Austria herewith submits its stability programme for the period 2009 to 2013. The programme's structure reflects the agreements reached by the ECOFIN Council on 11 October 2005 (Code of Conduct).
The Austrian government is committed to pursuing a sustainable budgetary and financial policy with a balanced budget over the business cycle, ensuring the possibility to react to cyclical fluctuations in an appropriate manner. The Federal Government pays attention to the joint budgetary responsibility of all regional authorities within the terms of the Austrian stability pact. The Federal Government has set as its highest priority measures to overcome the crisis, leading to a sustained recovery and preventing the recurrence of a crisis of this extent. Growth and employment effects should be taken into account no less than distributional effects. Therefore the Austrian government continues to follow the successful budgetary and financial three-pillar strategy:

• A balanced budget over the business cycle
• Investments in the fields of R&D, infrastructure, education and tertiary education for more growth and employment as well as protection of the social system as a location and productive factor
• Structural reforms in the field of public administration

The figures for public households presented in this stability programme are based on a growth forecast until the year 2013, which follows the medium term outlook for growth by the Austrian Institute of Economic Research (WIFO) and by the Federal Ministry of Finance.
In accordance with the recommendation of the ECOFIN Council under Article 126(7) of the Treaty on the Functioning of the European Union (TFEU) the Austrian government will take all the required measures to put an end to the present excessive deficit situation by 2013.

Indicators

	2008	2009	2010	2011	2012	2013
Real GDP (rate of change in %)	2.0	-3.4	1.5	1.5	1.9	2.0
Nominal GDP (rate of change in %)	4.1	-1.7	2.1	2.9	3.4	3.6
HICP (in %)	3.2	0.4	1.3	1.5	1.8	1.9
Unemployment rate (Eurostat definition, in %)	3.8	5.0	5.4	5.7	5.7	5.7
Net lending of general government (in % of GDP)	-0.4	-3.5	-4.7	-4.0	-3.3	-2.7
Gross debt (in % of GDP)	62.6	66.5	70.2	72.6	73.8	74.3
Cyclically-adjusted balance (in % of GDP)	-1.8	-2.6	-3.9	-3.1	-2.4	-1.7
Structural balance (in % of GDP)	-1.8	-2.6	-3.9	-3.1	-2.4	-1.7

Source: Austrian Stability Programme for the period 2009 to 2013

• Austrian Stability Programme for the period 2009 to 2013 (389 KB)

• Previous Stability Programmes

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