Other ADB Members

Sum of Measures 1—5 (Total Package)

Total Package in USD Million: 90,621.09
% of GDP (2020): 21.81%
% of Regional Total Package: N/A
Package Per Capita in USD: 10,208.40
Note: Measures 9 and 10 are added to the sum of Measures 1-5.
Measure Amount (Local) Amount (USD) Details Update Source
01 - Liquidity Support info_outline
01A - Short-term lending info_outline
01B - Support policies for short-term lending info_outline

No amount/estimate: The Oesterreichische Nationalbank (OeNB) has declared readiness to supply sufficient cash to banks, ATM operators, and the economy in response to increased withdrawals. Working hours were extended to meet the increased demand.

01C - Forex operations info_outline
02 - Credit creation info_outline EUR9,000,000,000 USD9,955,752,212
02A - Financial sector lending/funding info_outline
02B - Support policies for long-term lending info_outline
02B1 - Interest rate adjustments
02B2 - Other policies to support long-term lending
02C - Loan guarantees EUR9,000,000,000 USD9,955,752,212

(i) EUR9 billion in credit guarantees; (ii) As of 15 June 2021, all guarantees were extended until the end of the year.

03 - Direct long-term lending info_outline EUR150,000,000 USD165,929,204
03A - Long-term lending info_outline EUR150,000,000 USD165,929,204

6 July 2020, EUR150 million subordinated loan from the Austrian government to support Austrian Airlines for damages suffered due to coronavirus outbreak. This loan is convertible into a grant depending on the full-year results of Austrian Airlines.

03B - Forbearance

No amount/estimate: Austrians are allowed to defer interest payments on bank loans. 2 June 2020, Extended the loan deferrals available for private and micro-enterprises by four months, which allows beneficiaries to defer repayment obligations for principal or interest payments without suffering legally.

04 - Equity support info_outline
05 - Health and income support EUR72,769,400,000 USD80,497,123,894
05A - Health support EUR339,000,000 USD375,000,000

(i) Additional capacities for mobile and stationary care (EUR100 million); (ii) EUR60 million are granted to the health system; (iii) EUR 130 million are given to hospitals for equipment and to finance over-time payments; (iv) EUR36 million are disbursed to incentivize eligible research on COVID-19 by Austrian firms; (v) EUR13 million on medical supplies; (vi) 15 February 2021, Austria has announced that it would roll out free home coronavirus testing from March onwards; (vii) 1 November 2021, Austria has decided to roll out COVID booster shots. [update]

05B - Income support EUR71,228,400,000 USD78,792,477,876
05B1 - Tax and contribution deferrals and policy changes EUR10,500,000,000 USD11,615,044,248

(i) EUR10 billion for payment deferrals of personal income and corporate income taxes; (ii) 21 May 2020, new fiscal measures including tax relief measures for the hospitality sector of EUR500 million have been released by the Government; (iii) 12 June 2020, Tax deferrals have been extended until 15 January 2021; (iv) To jump-start the economy, a new tax incentive was introduced for companies that recruit apprentices, with EUR2,000 per position created between 16 March and 31 October of this year; (v) 22 February 2021, Tax deferrals have been further extended until June 2021; (vi) 3 June 2021, The government has approved a measure to help with the eventual payment of deferred taxes, by ensuring installment payments with minimum amounts over the first three months for those who need it.

05B2 - Tax and contribution rates reduction

(i) 12 June 2020, Reduced VAT to 5% to support the catering trade, the cultural sector and the publishing sector; (ii) 16 June 2020, reduced the lowest income tax bracket tax level from 25% to 20%. As of 30 July 2020, this was announced to be retroactively applied from 1 January 2020. There will also be a loss carryback, with business losses being offset against profits in 2019 and 2018, so that some of the deferred taxes may not have to be paid back at all; (iii) Increase in rates: 30 June 2020, Increased the top tax rate of 55% for incomes from EUR1 million until 2025; (iv) 20 January 2021, Exemption of FFP2 masks from VAT as well as exemption from alcohol tax in the manufacture of disenfectants; (v) 27 January 2021, Tax deduction for home office equipment, amounting to EUR300 euros for employees, and EUR300 for employers; (vi) As of 15 June 2021, it was announced that tax measures have been extended until the end of the year. This includes loss compensation, as well as other measures previously announced. More details to follow.

05B3 - Subsidies to individuals and households EUR12,499,000,000 USD13,826,327,434

(i) No amount/estimate: rent payment deferrals; (ii) No amount/estimate: 13 May 2020, proposed a more simple calculation method to determine monetary subsidies by companies to their employees from their own accounts and from the government's funding. Under the new system, no employee should have any losses; (iii) 20 May 2020, Increased to EUR12 billion (from EUR10 billion on 13 April 2020 and EUR5 billion originally) funds for short-time working, self-employed and funds to finance increased costs of caretaking, etc; (iv) 28 May 2020, Allocated EUR90 million to support freelance artists up to EUR1000 a month; (v) 17 June 2020, Reserved EUR30 million for childcare in the summer from the municipal package; (vi) 26 June 2020, Allocated another EUR30 million to Family Crisis Fund to support low income families, with the amounts to be transferred on 13 July 2020. As of 16 July 2020, this amount has been increased to EUR60 million; (vii) 30 July 2020, an additional bonus of EUR360 per child will be given on 30 September 2020 for each family eligible for family allowance; (viii) 30 July 2020, In order to relieve employees who do not receive taxable income (up to EUR11,000), the traffic tax credit has been increased from a maximum of EUR300 to a maximum of EUR400. This covers commuting expenses from work to home. As of 21 January 2021, this has been extended; (ix) 30 July 2020, The SV reimbursement (for social securtiy contributions) will also be increased from EUR300 to EUR400. This applies from the assessment for the calendar year 2020; (x) EUR124.7 million was approved to relieve operators (EUR115.7 million, reflected in 5B4) and passengers (EUR9 million) of costs related to the operation and use of the railway network; (xi) As of 21 January 2021, The SVS bridging funding and the COVID-19 fund of the artists' social insurance fund will be extended until the end of June. These measures are estimated to provide up to EUR160 million (EUR120 million and EUR40 million respectively) by that period. In addition, a "lockdown bonus" of 1000 euros was created for January and February 2021; (xii) 24 February 2021, EUR150 million for families amidst the COVID-19 pandemic, which includes topping up and extending the family hardship fund until the end of June 2021 as well as a special family allowance for families who received family allowance for at least one month last year. As of 15 June 2021, the hardship fund was again extended by 3 months until September 2021.

05B4 - Subsidies to businesses EUR32,931,400,000 USD36,428,539,823

(i) EUR15 billion emergency funds for hard-hit industries to provide direct liquidity provisions and subsidies for running costs. On 27 April 2020, expanded Phase 2 of the hardship fund, through which SMEs may request up to 6000 Euros from the government. As of 22 September 2020, the total budget for this measure has been increased to EUR19 billion. As of 20 January 2021, this measure has been extended. While no details on the amount have been provided, it was announced that this measure would be available until March 2021; (ii) Support to non-profit organizations in the form of subsidies totalling EUR700 million; (iii) No amount/estimate: 21 May 2020, Applications for the fixed subsidy have already started, with the first payments being disbursed by end of May. The Ministry of Finance will reimburse up to 75% of a company's fixed costs for up to 3 months. 16 June 2020, extended Austria's fixed cost subsidy; (iv) 27 May 2020, increase in the minimum payment amount of the hardship fund to EUR500, and added another EUR500 comeback bonus, dedicated to entrepreneurs having hardships during the pandemic; (v) 6 August 2020, another EUR665 million Austrian scheme to support non-profit organisations (NPOs) and their related entities in the context of the coronavirus outbreak; (vi) 24 August 2020, Extended the fixed cost subsidy for businesses, doubled the length of time it can be received and reduced application requirements. As of 3 September 2020, the rate has also been increased to 100% (versus 75% in the initial version); (vii) 25 November 2020, The European Commission approved an Austrian government scheme providing EUR150.7 million in direct grants to the rail freight sector as support in light of difficulties caused by the coronavirus pandemic. Further, an additional EUR124.7 million was approved to relieve operators (EUR115.7 million) and passengers (EUR9 million, reflected in 5B3) of costs related to the operation and use of the railway network; (viii) 26 November 2020, EUR12 billion in total across two schemes approved by the European Commission (Fixkostenzuschuss Phase I and II), to compensate companies for damages and fixed costs due to the coronavirus; (ix) 20 January 2021, The Austrian Government has announced that it will extend its economic support to businesses until June. They have also announced a “loss bonus”, where any company with a loss of more than 40% in sales can apply for up to EUR60,000 per month; (x) 4 February 2021, a EUR300 million Austrian scheme to support organisers of events affected by coronavirus outbreak has been approved by the European Commission for package travel organisers and facilitators of linked travel services to ensure that sufficient resources are available to refund consumers for cancelled travel services should package travel organisers or facilitators become insolvent.

05B5 - Indirect income support EUR3,298,000,000 USD3,648,230,088

(i) 25 May 2020, EUR1 billion in grants from the federal government to municipalities, geared towards support for infrastructure investment (e.g. schools, public transportation, energy production); (ii) EUR1.222 billion as part of the NextGen EU Program by the European Commission and Government of Austria, including measures such as funding for education and access to digital tools and technologies, as well as funding for digital connectivity; (iii) EUR1.076 billion as part of the NextGen EU Program by the European Commission and Government of Austria, geared towards measures such as energy technologies, emission-free transport, and circular economies.

05B6 - No breakdown (income support) EUR12,000,000,000 USD13,274,336,283

(i) 16 June 2020, fiscal package was increased by EUR12 billion to include stimulus measures, including investment in climate protection, affordable housing, digitalisation and a one-off support for unemployed and families. Several specific tax relief measures are aimed at the agricultural and forestry sectors, culture and publishing.

05C - No breakdown (health and income support) EUR1,202,000,000 USD1,329,646,018

EUR1.202 billion as part of the NextGen EU Program by the European Commission and Government of Austria. This represents the remainder of the budget that have not been allocated to other measures.

06 - Budget reallocation info_outline
07 - Central bank financing government
07A - Direct lending and reserve drawdown
07B - Secondary purchase: government securities
08 - International Assistance Received EUR3,500,000,000 USD3,871,681,416
08A - Swaps info_outline
08B - International loans/grants EUR3,500,000,000 USD3,871,681,416
08B1 - Asian Development Bank
08B2 - Other EUR3,500,000,000 USD3,871,681,416

(i) EUR3.5 billion in grants from the European Commission as part of the NextGeneration EU Program, with spending reflected in the sub-measures under Measure 5.

09 - International Assistance Provided EUR2,064,108 USD2,283,305
09A - Swaps info_outline
09B - International loans/grants EUR2,064,108 USD2,283,305

(i) 2 April 2021, Austria has donated 30,000 doses of coronavirus vaccine to the Czech Republic; (ii) 28 April 2021, Austria has donated antiviral drugs worth EUR2 million to India for the fight against the Covid-19 pandemic; (iii) 23 June 2021, The Austrian Government has donated PPE worth FJD156,270 to the Fijian government; (iv) 3 August 2021, The Austrian Government donated 50,000 vaccines to Tunisia; (v) 6 September 2021, Austria has donated 1 million COVID-19 vaccines to Iran; (vi) 22 September 2021, Austria has donated 50,000 doses of COVID-19 vaccines to Costa Rica. As of October 4, these vaccines have arrived in the country; (vii) 21 October 2021, Austria has sent Romania several types of medicines to treat COVID-19 patients.

10 - No breakdown
11 - Other Economic Measures

(i) On 18 March 2020, the Financial Market Authority prohibited short sales for one month following the massive drop in prices on the Vienna Stock Exchange due to betting on covered share price losses and and extended the prohibition to 18 May 2020 on 16 April 2020; (ii) No amount/estimate: 18 May 2020, Ended the restrictions on short sales beginning midnight of the same day; (iii) 16 June 2020, To incentivize companies to buy capital goods, added a degressive depreciation option for an unlimited period, up to 30% of an investment good should be written off in the first year.

12 - Non-Economic Measures
12A - Measures affecting travel and transport (local and international)

(i) The authorities have progressively tightened containment measures between mid-March and mid-April. Initially targeted to travel to and from Italy and self-quarantine for people with symptoms, lockdowns became stricter and stricter and covering more countries as the situation developed; (ii) By 16 March 2020, leaving home was banned by law with limited exceptions; (iii) The re-opening process is expected to last through June though some steps were accelerated recently due to low infection rates, such as the reopening of the borders with Germany, Switzerland, Lichtenstein, Czech Republic, Slovakia, and Hungary from 5 June 2020; (iv) 16 June 2020, travelling restrictions were lifted for most European countries; (v) 12 January 2021, To facilitate contract tracing, authorities at the border entering Austria will require online registration for everyone, including for Austrian citizens and residents, before crossing.

12B - Measures affecting business and workplace

(i) For all judicial and administrative procedures, the clock was put on hold to avoid hardship due to missed deadlines; (ii) 13 April 2020, gradual re-opening of the economy has started, from small shops, construction and garden centers, while other stores and hairdressers were allowed to open at the beginning of May; (iii) Open air markets and business premises are exempted from the mandate on mouth and nose protective masks since 1 June 2020; (iv) The authorities eventually announced a 4-week partial lockdown effective on 3 November 2020. Compared to the first lockdown, the second lockdown is relatively more lenient. While restaurants and bar are ordered to be closed, non-essential shops, hairdressers, and schools remain open; (v) 23 March 2021, Austria has postponed the reopening of cafe, restaurant and bar terraces planned for 27 March 2021 due to rising coronavirus cases; (vi) 26 May 2021, The Austrian Government has announced that they will relax several coronavirus measures from 10 June 2021 onwards, specifically, by allowing restaurants to be open until 12 midnight (from 10 in the evening) and allowing an increased number of people per table (from 4 to 8), as well as doubling the allowed number of people at retail stores; (vii) 19 October 2021, Austria has announced that it will require proof of 3G (vaccine, recovery, or negative test) in workplaces.

12C - Others

(i) Anti-COVID19 measures progressed to bans on large gathering in public spaces, replacing schools, and university classes with home learnings, and isolation of several ski resorts; (ii) By mid-May when religious services, outdoor sports, museums, libraries, and archives reopened, the Bundesliga was allowed to restart; (iii) 15 June 2020, the standing obligation for all persons to wear a face mask was limited to public transportation, pharmacies and services when a 1-meter distance cannot be maintained, or no other protective measures are available; (iv) 24 July 2020, pickup in the infection rate in some areas has prompted the authorities to tighten previously relaxed containment measures such as mandatory mask wearing in some areas; (v) In September 2020, this tightening extended to indoors and public institutions; (vi) The authorities eventually announced a partial second lockdown between 3 November and 6 December 2020. Industry and manufacturing continue to open while restaurants, bars, non-essential shops, hairdressers, and schools are closed. This lockdown was subsequently tightened from 17 November 2020; (vii) 17 January 2021, Austria extended the coronavirus lockdown until 7 February 2021 and tightened existing measures; (viii) 7 March 2021, Austria suspends AstraZeneca COVID-19 vaccine batch after death of one and illness of another related to blood clots; (ix) 24 March 2021, The eastern states of Vienna, Lower Austria and Burgenland will re-enter a strict coronavirus lockdown on 1 April 2021 due to rising infection rates and hospitalisations; (x) 26 May 2021, The Austrian Government has announced that they will relax several coronavirus measures from 10 June 2021 onwards, specifically, by relaxing requirements to wear mask outdoors for fully vaccinated people and allowing an increased number of people at weddings; (xi) 3 July 2021, The Austrian Government has relaxed more measures, such as by allowing nightclubs to operate without curfew; (xii) 22 July 2021, Austria has announced that it would tighten COVID-19 measures due to a rise in infection rates; (xiii) 25 August 2021, The validity of both PCR and antigen tests has been shortened in Vienna. These tests are required upon entry to bars and restaurants; (xiv) 8 September 2021, The validity of tests have also been shortened for the unvaccinated in the rest of Austria, along with other tightened measures such as required masks indoors. As of 5 November 2021, Austria has banned the unvaccinated from restaurants [update]; (xv) 11 October 2021, An Austrian state has relaxed test and mask rules in schools, the first in the country.