Austria Prepares Stimulus to Start ‘Phase 2’ of Corona Recovery
- Finance Minister Bluemel says Austria turns focus to economy
- Bluemel says EU rules hold back country from paying out aid
Austria’s export-driven economy is struggling with trade restrictions and eroded demand.
Photographer: Akos Stiller/Bloomberg
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Austria has signaled it wants to adopt stimulus measures swiftly as Chancellor Sebastian Kurz’s government meets with corporate leaders to discuss ways to jump-start the economy.
“We have to start a second stage now, and start negotiating ways to increase supply and demand to get back to growth,” Finance Minister Gernot Bluemel said in a Bloomberg TV interview. Measures are to exceed the 38 billion euros ($41 billion) already committed to help cushion fallout from the coronavirus outbreak.