Macro-economic Effects of the Fiscal Stimulus Measures in Austria
In order to cushion the impact of the financial and economic crisis on the real economy, the Austrian government adopted fiscal stabilisation packages. Relative to GDP, these are among the largest in an international comparison, amounting to 4.2 percent of 2008 GDP in cumulative terms and including similar measures taken by the Lander (federal states). Simulations with the WIFO macro-economic model suggest that these measures, together with those taken by Austria's major trading partners, contribute substantially towards limiting the repercussions of the crisis, reducing the fall in GDP in 2010 by 2.1 percentage points. With a share of less than 30 percent of the total amount spent, investment geared towards raising potential growth in the future receives less emphasis than in a sample of 11 OECD countries with an average share of almost 40 percent.
Steuerreform 2009/10
Die Steuerreform 2009/10 kompensiert die kalte Progression und leistet einen wesentlichen Beitrag zur Krisenbekampfung. Sie enthalt auserdem Instrumente zur Verbesserung der Vereinbarkeit von Familie und Beruf. Weitere strukturelle volkswirtschaftliche Ziele werden jedoch nicht erreicht: Mit den jungsten steuerlichen Masnahmen ist weder eine Okologisierung des Steuersystems noch dessen Vereinfachung verbunden. Daruber hinaus ist ihr Beitrag zur Erhohung der Wachstums- und Beschaftigungsfreundlichkeit des Abgabensystems gering. Die steuerlichen Barrieren zur Ausweitung von geringfugiger oder Teilzeitbeschaftigung bleiben hoch. Es wurde kein wesentlicher Schritt zu einer energischen Entlastung der Arbeitseinkommen von Sozialbeitragen bzw. einer starkeren Steuerfinanzierung des sozialen Sicherungssystems unternommen.
Fiscal Transparency in EU Accession Countries Progress and Future Challenges
This paper discusses the findings of fiscal transparency reports on standards and codes (ROSCs) for most EU accession candidate countries. Emphasis is given to the need to establish effective and accountable medium-term budget frameworks to establish policy credibility and anchor adjustment programs to meet EU fiscal goals. Adoption of budgeting and accounting standards consistent with the IMF Government Finance Statistics Manual 2001 framework will also help link budget decisions to EU standards of fiscal reporting. More consistent and comprehensive coverage of off-budget activities is needed for assessing fiscal risk and sustainability. Finally, local government issues need to be addressed by many of these countries since EU fiscal goals are set with reference to general government. Progress in all of these areas can be monitored by keeping fiscal ROSC assessments up to date.