Austria's National Recovery and Resilience Plan: Latest state of play

Austria's national recovery and resilience plan (NRRP) was updated on 9 November 2023 with the introduction of a REPowerEU chapter. The plan now totals €4 187 million, of which €3 961million are financed through Recovery and Resilience Facility (RRF) grants. The difference is financed through national resources. To implement the plan, Austria is leveraging further amounts beyond EU support from the national budget. Austria has requested the maximum amount of grants available (non-repayable support); it did not opt for requesting loans (possible until 31 August 2023). The Austrian economy has been in a slowdown since the end of the second quarter of 2022. There has been a lack of expansionary impetus both domestically and abroad, leading to a decline in economic output of 0.8 % in 2023. Economic indicators do not suggest an economic recovery for 2024 either – a moderate upturn in private consumption is unlikely to fully cushion a prolonged recession in industry and construction. Against this backdrop, Austrian gross domestic product (GDP) is expected to stagnate in 2024, according to recent estimates. From 2025, industrial output is expected to rise again slightly, restoring positive GDP growth (+1.5%). In Austria's NRRP, 56 % of EU resources will be allocated to the green transition, and (excluding the REPowerEU chapter) 36 % to the digital transformation – far more than the minimum targets set by the RRF Regulation (37 % and 20 % respectively). The plan includes a significant number of reforms with the potential to support lasting structural changes in other areas, such as the primary healthcare system, less red tape for business, and modernisation of the public administration. By the end of November 2024, Austria had received €1.19 billion: €700 million (net of pre-financing) for the first payment, based on the achievement of 44 milestones and targets, and the rest as pre-financing. This briefing is one in a series covering all EU Member States. Third edition. The 'NGEU delivery' briefings are updated at key stages throughout the lifecycle of the plans.