Vienna, 17 April 2012 Neue SeiteAustrian Finance Minister Dr. Fekter welcomes Fitch Triple A rating

"Our package of reforms, our favourable economic data, and the tax treaty with Switzerland have all borne fruit", Austrian Finance Minister Dr. Maria Fekter was pleased to note. "My expectation is that this rating will have a positive impact on the ratings of other agencies, as well", Dr. Fekter went on to say. "The data prove that we are in the top tier of the entire EU. We have the highest levels of employment and have higher rates of exports than Germany, our rate of inflation is falling, our budget deficit is continually shrinking, and we have charted an ambitious course of reforms. On an international comparison, there are few who can point to a better record than ours", Finance Minister Fekter emphasised. In addition, Dr. Fekter noted: "Let us not forget that Austria was awarded triple A status by two of the three main rating agencies - both Fitch and Moody's."

"Fitch has specifically referred to our package of reforms and has acknowledged that our 2012 budget consolidation package is more ambitious than our 2011 budget was. But the favourable conclusion to our 2011 budget was incorporated into their AAA rating, as well", Finance Minister Dr. Fekter explained.

"Despite the favourable rating given by Fitch, we will press on with our efforts. This is not the time to be resting on our laurels. Rather, we will now rigorously implement the measures set out in our package of reforms", Dr. Fekter stated. "The next steps on our agenda of reforms are the stability pact with the Austrian Länder and the reforms in the health-care sector as well as in the realm of disability pensions", Dr. Fekter stated in closing.