Other ADB Members

Sum of Measures 1—5 (Total Package)

Total Package in USD Million: 68,068.59
% of GDP (2019): 15.44%
% of Regional Total Package: N/A
Package Per Capita in USD: 7,693.94
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
02C - Loan guarantees EUR9,000,000,000 USD9,955,752,212

EUR9 billion in credit guarantees.

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

July 6, 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. June 2, 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 - Government support to income/revenue EUR52,384,000,000 USD57,946,902,655
05A - Health 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.

05B - Non-health EUR52,045,000,000 USD57,571,902,655

(i) EUR15 billion emergency funds for hard-hit industries to provide direct liquidity provisions and subsidies for running costs. On April 27, expanded Phase 2 of the hardship fund, through which SMEs may request up to 6000 Euros from the government; (ii) EUR10 billion for payment deferrals of personal income and corporate income taxes; (iii) No amount/estimate: rent payment deferrals; (iv) No amount/estimate: May 13, 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; (v) May 20, Increased to EUR12 billion (from EUR10 billion on April 13 and EUR5 billion originally) funds for short-time working, self-employed and funds to finance increased costs of caretaking, etc.; (vi) May 21, EUR1.2 billion is being rolled out by authorities as new fiscal measures including tax relief measures for the hospitality sector of EUR500 million and support to non-profit organizations of EUR700 million; (vii) No amount/estimate: May 21, 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; (vii) May 25, EUR1 billion in grants from the federal government to municipalities, geared towards support for infrastructure investment (e.g. schools, public transportation, energy production); (viii) May 27, 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; (ix) May 28, Allocated EUR90 million to support freelance artists up to EUR1000 a month; (x) To jump-start the economy, a new tax incentive was introduced for companies that recruit apprentices, with EUR2,000 per position created between March 16 and October 31 of this year; (xi) June 12, Reduced VAT to 5% to support the catering trade, the cultural sector and the publishing sector; (xii) June 12, Deferred taxes to January 15, 2021. (xiii) June 16, reduced the lowest income tax bracket tax level from 25% to 20%. As of July 30, this was announced to be retroactively applied from January 1, 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. (xiv) June 16, extended Austria's fixed cost subsidy; (xv) June 16, fiscal package was increased by EUR12 billion to include stimulus measures, including investment in climate protection, affordable housing, health, and 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; (xvi) June 17, Reserved EUR30 million for childcare in the summer from the municipal package; No amount/estimate: (xvi) June 26, Allocated another EUR30 million to Family Crisis Fund to support low income families, with the amounts to be transffered on July 13. As of July 16, this amount has been increased to EUR60 million. (xviii) June 30, Increased the top tax rate of 55% for incomes from EUR1 million until 2025; (ix) July 30, an additional bonus of EUR360 per child will be given on September 30 for each family eligible for family allowance; (x) July 30, 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 EUR 300 to a maximum of EUR 400. This covers commuting expenses from work to home; (xi) July 30, The SV reimbursement (for social securtiy contributions) will also be increased from EUR 300 to EUR 400. This applies from the assessment for the calendar year 2020; (xii) August 6, EUR665 million Austrian scheme to support non-profit organisations (NPOs) and their related entities in the context of the coronavirus outbreak. This has been approved by the European Commission; (xiii) August 24, Extended the fixed cost subsidy for businesses, doubled the length of time it can be received and reduced application requirements. As of September 3, the rate has also been increased to 100% (versus 75% in the initial version). update]

06 - Budget reallocation info_outline
07 - Central bank financing government
07A - Direct lending & reserve drawdown
07B - Secondary purchase: government securities
08 - International Assistance Received
08A - Swaps info_outline
08B - International loans/grants
08B1 - Asian Development Bank
08B2 - Other
09 - International Assistance Provided
09A - Swaps info_outline
09B - International loans/grants
10 - No breakdown
11 - Other Economic Measures

(i) On March 18, 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 May 18 on April 16; (ii) No amount/estimate: May 18: Ended the restrictions on short sales beginning midnight of the same day. (iii) June 16, 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

(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, the measures progressed to bans on large gathering in public spaces, replacing schools, and university classes with home learnings, and isolation of several ski resorts. By March 16, leaving home was banned by law with limited exceptions. For all judicial and administrative procedures, the clock was put on hold to avoid hardship due to missed deadlines. (ii) April 13, 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. By mid-May when religious services, outdoor sports, museums, libraries, and archives reopened, and the Bundesliga was allowed to restart. Open air markets and business premises are exempted from the mandate on mouth and nose protective masks since June 1. 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 June 5; (iii) June 15, 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) 16 June, travelling restrictions were lifted for most European countries; (v) A 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.