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Challenges caused by sluggish economic development | Society for securing the future and pension provision

Challenges caused by sluggish economic development | Society for securing the future and pension provision
Vienna/St. Lambrecht (OTS) –

“The hoped-for upswing for Austria’s economy is still missing. The economy is developing far more slowly than originally forecast and is showing signs of continued weakness.” The head of the economic policy department at the Chamber of Commerce, Claudia Huber, sees a problematic situation for the economy and Austria as a business location. At the St. Lambrecht think tank from October 2nd to 4th, 2024, i.e. immediately after the National Council election, Huber will give a lecture on “Sustainable financial policy – basis for pensions and pension provision” in the Styrian Benedictine monastery of St. Lambrecht on the final day. Concern for Austria as a business location is currently a priority issue in the current National Council election campaign. At the same time, economists have already vehemently pushed for a sustainable budget policy from the new federal government.
The head of the economic policy department in the Chamber of Commerce has several points to think about when looking ahead to challenges and prospects for the economy. “The individual sectors are affected very differently by the developments: While industry and construction have been fighting their way through a recession for months, things are looking up again for some service sectors,” says Huber. “A further obstacle to the economic recovery is that the past wage increases are not having the originally hoped-for demand-increasing effect. Rather, the phenomenon of so-called precautionary saving is increasingly becoming apparent, which is currently slowing down consumption and retail.”
For the expert, longer-term decisions are also important. In her lecture at the St. Lambrecht think tank, she will analyze the most important economic trends and the most important location factors for Austria. From this it derives recommendations for economic policy action that are aimed at “making Austria a future-proof and competitive economic location”. In addition to overcoming short-term economic weaknesses, the most important thing is to strengthen the competitiveness of Austria as a business location against the background of profound structural challenges. These include, among other things, the “twin transition”, the social and economic effects of demographic change and the global economic consequences of increasing geo-economic fragmentation.

Under the scientific direction of Vienna university professor Wolfgang Mazal, this year the St. Lambrecht think tank is also focusing on precautionary concepts in the welfare state and concern for social cohesion. In addition, it is also about the sustainability potential of education.

St. Lambrecht think tank: “People – basis for economic strength and provision”

Datum: October 2nd, 2024, 6:00 p.m. – October 4th, 2024, 12:00 p.m

Art: Conferences and meetings

Ort: Benedictine monastery of St. Lambrecht, Styria

Main Street 1

8813 St. Lambrecht

Austria

URL: https://denkwerkstatt-stlambrecht.org/de/news/denkwerkstatt-2024/

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