Media: In Austria, the growing discontent of sanctions against Russia – Sight

Media: In Austria, the growing discontent of sanctions against Russia – Sight

Austrian entrepreneurs are concerned about slower growth of the national economy because of the policies of the European Union imposing sanctions against Russia.

«Everything that happens in Central and Eastern Europe, the impact on Austria is much stronger than, say, Portugal “, – stated analyst Bank Austria Stefan Brukbauer. According to him, about 70% of Austrian exports are talking to Eastern Europe, reports RT with reference to Deutsche Welle.

According to the Bank of Austria, the country’s GDP in 2014 grew by only 0.4%. And the unemployment rate, relatively low by European standards, was the highest in the last 30 years. The business community in Austria, once fully supports the sanctions begins to openly declare their negative impact on corporate profits. “We do not think that economic sanctions will lead to policy decisions that all of us would like,” – said the head of the foreign trade of Austria Walter Koren.

He cited published this week a study by the Austrian Institute of Economic Research (WIFO). According to the document, a trade war Austria could lose up to 45 thousand. Jobs and short of 2.9 billion euros.

The main trade partners of Austria also fear the negative consequences of sanctions. “Sanctions are not in themselves have little impact on the Austrian economy – said Brukbauer. – The mood in the business community more painful ».

Retail Austria, too, began to feel the cooling of relations with Russia. The number of Russian tourists in the past year decreased by 4.3%, and it hit the sales. In particular, luxury shopping “Golden Quarter” in Vienna was opened last spring to meet hitherto rapidly increasing flow of Russian and Chinese tourists. Chinese still come to Vienna, but the Russians – not. Some can not because of the sanctions, others – because of the collapse of the ruble. An employee of one of the branded stores, who requested anonymity, said that compared to last year, the number of buyers-Russians decreased by 7% and turnover decreased by 10%.

The relations between Russia and the West have deteriorated due with the situation in Ukraine. The EU and the US against the background of the agreements reached in Minsk between Kiev and Donbass militias of the ceasefire imposed sanctions against Russia, against the financial, oil and defense industries.