Austrian Stability Programme
The Federal Government continues its stability-oriented and sustainable fiscal and economic policy strategy. The following key policy areas were identified:
- Implementation of the tax reform 2015/2016 and reduction of non-wage labour costs
- Additional stimuli in the areas of internal and external security and measures to address the refugee inflow
- Acceleration of future-oriented investment to strengthen the growth potential of the Austrian economy, including support to the digital economy agenda, the labour market and employment creation
- Continuation of structural reforms
In accordance with Regulation (EC) No 1466/97, amended by Regulation (EU) No 1175/2011, euro area Member States are required to submit a Stability Programme each year, while other EU Member States have to submit a Convergence Programme.
This programme is part of the European Semester and is approved by the Austrian Federal Government in accordance with the Austrian Stability Pact taking into consideration budget coordination within Austria. At the same time, this document covers the national medium-term budgetary plan according to Article 4 of Regulation (EU) No 473/2013 (“Twopack”).
The Stability Programme is submitted together with the National Reform Programme to the Council of the European Union and the European Commission, as well as the Austrian National Council, financial equalisation partners and social partners.
The update of the Austrian Stability Programme for the period 2015 to 2020 was approved by the Council of Ministers on 26 April 2016.