The Latest News from Austria & Vienna: GDP in Austria Above Pre-crisis Level

18.11.2021 – Schallenberg to Receive Ukranian Prime Minister on Monday

Chancellor Alexander Schallenberg (Austrian People’s Party, ÖVP)  is due to receive Ukrainian prime minister Denys Shmyhal for a working visit to Vienna on Monday.

Topics of discussion are expected to include the political, economic, and humanitarian support for Austria, the intensification of economic relations, the cooperation between the EU and Kiev, and current political issues such as the situation at the Ukrainian-Russian border, said the chancellor’s office on Thursday.

“Austria is a friend and partner to Ukraine”, said a spokesperson for the chancellor’s office. Since 2014, Austria had provided 9.3 million euros’ worth of humanitarian aid and most recently donated 500,000 Covid vaccination doses.

The two heads of government aim to talk about a further intensification of the economic and trade relations, especially in the renewable and green technology sectors.

Shmyhal met the Austrian ambassador to Kiev, Gernot Pfandler, as well as economic representatives, in Kiev last week. He praised “Austria’s practical contributions and the practical contributions of the Austrian economy to the Ukrainian economy”.

Despite the pandemic, the trade volume between the two countries increased by 67.5 percent in the first half of 2021 and reached 966.9 million dollars.

17.11.2021 – Inflation Increased to 3.7 Percent in October

The prices have continued to rise in October. The inflation rate for October 2021 reached 3.7 percent, according to Statistics Austria, after 3.3 percent in September. This meant that inflation was at its highest rate in 13 years.

The main price drivers were “further, noticeable price hikes with fuel and heating oil”, said Statistics Austria general director Tobias Thomas. Food prices developed in a more moderate fashion.

Expenditures for fuel and heating oil were responsible for considerably more than a third of inflation. Heating oil prices rose in October by 60.8 percent in an annual comparison. Fuel prices rose by 32.8 percent. Electricity prices rose by 9.6 percent, and gas by 15.6 percent. Food and non-alcoholic drinks cost 1.1 percent more on average.

Compared with the previous month of September, the average price level increased by 0.6 percent.

Reported in cooperation with the Austrian Press Agency / APA.

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