His calls to fight inflation have been silenced. This is one of the reasons why Gabriel Felbermayr doesn’t have a good feel for the pay rounds. The WIFO boss on the forecasts for the metalworkers, the consequences of high wages for Austria and how he stands behind KTM boss Stefan Pierer’s narrator, who compared the current situation in Austria to the “last party on the Titanic”.
A gentle breeze blows over the terrace of the Schlossbrasserie in Linz, where Gabriel Felbermayr sits. “It’s cooler here than in Vienna,” says the WIFO boss, who had a stressful journey because the train was late. But the economist says nothing about that. It is immediately in working mode.
“crown”: Mr. Felbermayr, KTM boss Stefan Pierer, as chairman of the Upper Austrian industry federation recently said that the recession in Austria is only masked by the overbooked tourist situation. He compared it to “the last party on the Titanic”. Would you agree?
Gabriel Felbermayr: It is certainly not the last party, we will always have reasons to celebrate. But Mr. Pierer is right: the industry he speaks of is also in recession in Austria. And that will shrink considerably this year compared to last year.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
