EU Recovery Fund will create 25,000 jobs in Austria, says study

The Austrian government has already put forward a detailed plan on how it will spend €3.46 billion in the form of EU grants. [Shutterstock/xtock]

The measures that the Austrian government plans on implementing with the money from the EU recovery fund will create 25,000 additional jobs and will increase Austria’s GDP by 1.21%, the Vienna-based Institute for Advanced Studies has estimated.

The Austrian government has already put forward a detailed plan on how it will spend €3.46 billion in the form of EU grants. Two-thirds of the measures are new investments that have not been part of the Austrian national budget planning so far.

Environmental and digital investments will make up the bulk of the spending, while €1.5 billion will be invested in green reconstruction, most notably emissions-free mobility and €1.8 billion will be spent on digitalisation and broadband roll-out.

“We will get back every euro we are entitled to. Austria has submitted an ambitious and forward-looking plan, and the measures contained in it will help us with our national recovery,” said Finance Minister Gernot Blümel.

During the negotiations, Austria was one of the “frugal four” who opposed the idea of a grants-based EU recovery fund. (Oliver Noyan | EURACTIV.com)

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