On 20th of March, 2017, Oesterreichische Nationalbank and the European Investment Bank co-organized a workshop on investment in Austria at the premises of the Oesterreichische Nationalbank (OeNB) in Vienna. The EIB Vice-President Andrew McDowell gave an overview of the EIB’s activities in Austria and supported the planned activities with the results of the EIB Investment Survey for Austria. Peter Mooslechner, OeNB’s Board Member opened the discussion. Debora Revoltella, Director of EIB’s Economics Department presented the newly launched EIB Investment Survey.
P. Mooslechner (Member of the Board, OeNB) and D. Revoltella (Director, Economics Department, EIB) held the opening remarks. P. Mooslechner regarded the workshop as an important undertaking and he emphasized the need to focus on real investment as the main driver of economic growth and employment. He pointed to the long-lasting nature of the present crisis, which brought about weak demand, underutilized capacity, political uncertainty and subdued expectations about future economic growth. He concluded by emphasizing the role of European policymakers to help revive both public and private investment. The European Central Bank has done its part by lowering interest rates and providing liquidity to the banking sector which lead to favourable financing conditions for companies, thereby preventing even further drop in investment. D. Revoltella opened the workshop by recalling EIB’s mission to support sound investments. In this regard, one of the objectives of the workshop was to identify areas where EIB can support Austria without crowding out other investment. The EIB Group Investment Survey (EIBIS) for Austria that was launched at the workshop could help identify such areas.