Eco Austria: Industrial strategy necessary until summer

In view of the persistent recession, the industry-oriented Eco Austria economic research institute is pushing for a faster implementation of the announced industrial and location strategy. In mid-March, the new government had announced the development of an industrial strategy by the end of the year at its first exam. "We cannot wait until the end of the year," Eco-Austria chief Monika Köppl-Turyna said to the APA.

In view of the economic stagnation in Austria and Europe, ifo CEO Clemens Fuest warns against excessive wage increases. These would cost jobs rather than boost consumption – trust is more important than more money in the account. Fuest also made clear savings recommendations on the Austrian state budget.

According to the Ifo chief, the government can save on administration and pensions, but not on infrastructure

Holger Bonin, head of the Institute of Higher Studies, has little pleasure with his figures. Austria is the third year in a recession, recovery is not in sight. A conversation about the reasons of the descent and why we have lived too long on a large foot.