How Austria Got Through the Crisis and What to be Done Now

Economic policy in Austria in the last two years has been dominated by the COVID-19 crisis. In international comparison, Austria ranks only average as far as its pandemic response is concerned, both in terms of excess mortality and economic losses. Despite the current acute infection situation, economic policy must once again focus on structural issues that are decisive for long-term prosperity. This article highlights some aspects of the COVID-19 crisis and offers some thoughts on the transformation of the energy system and the reform of labour market institutions. The proactive design of both policy areas will be crucial for the country's successful economic future.