Economic Affairs Minister Martin Kocher (ÖVP) is concerned about the domestic economy given the wave of inflation. He warns against possible emigration and now calls for action.
While rising household energy costs are partly offset by state aid, Economic Affairs Minister Martin Kocher is increasingly concerned about the economy and businesses: “What’s next for the companies?” is the great and anxious question.
US, China and India less affected by sanctions
Energy-intensive sectors in the glass, paper, steel or aluminum sector in particular are now in danger of falling behind global competition. The reason: in Europe, energy prices are rising particularly sharply due to the sanctions – depending on the precautions that companies take, by a factor of two to four. In the US, China and India, which are much less dependent on Russian energy, costs rise less than in Austria or Germany or even Hungary. The dependency here is particularly high. Result: Companies can produce cheaper in China or India.
If the situation lasts longer, which is to be feared, Austrian companies would, for better or for worse, relocate their production. To prevent this, Minister Kocher is calling for EU-wide gas purchases to limit costs. In addition, there must be support for the affected industries.
Source: Krone
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