Challenges in Economic Policy

31.03.2021

Video: WIFO Director Christoph Badelt at "WU matters. WU talks."

As part of "WU matters. WU talks." Christoph Badelt discussed the economic upheavals of the COVID-19 crisis on the one hand and outlined fundamental challenges for the Austrian economy which, he said, were being overlooked in the current social discourse on the other.

The COVID-19 crisis has led the Austrian economy into the worst recession since World War II. To counter the economic and social consequences, a package was put together that is unique in terms of the financial resources expended and the range of beneficiaries. But is it enough?

According to Christoph Badelt economic policy will not only be able to deal with repairing the damage caused by the COVID-19 crisis. "It will also have to address a number of fundamental problems of the Austrian economy were masked for months by the COVID-19 pandemic and whose solution was postponed to the future", said Badelt in the discussion "WU matters. WU talks." on 24 March 2021.

In his WIFO Report on Austria titled "Austria's Economic Policy in the Time of COVID-19 and Beyond. An Assessment at the Turn of the Year 2020-21" Badelt outlined the main challenges besides fighting pandemic.

 

Publications

Austrian economic policy in 2020 was largely dominated by the fight against the COVID-19 pandemic. As a result, the implementation of the new government programme presented at the beginning of the year took a back seat, as did the solution of a number of structural problems facing the Austrian economy. This article summarises the main lines of economic development in 2020, focuses on the government's main economic policy measures and discusses the issues and necessary reform steps to be taken in 2021, such as climate policy or the long-term consolidation of public budgets. The references refer to in-depth WIFO research on the respective topics.
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Markus Kiesenhofer, BA, MA

Activities: Public relations, Coordinator Communication Division
© Anthony Boyd Graphics
© Anthony Boyd Graphics