General Information on Economic Policy
Fiscal policy concerns national budget policy measures aimed at influencing aggregate demand or individual components of this demand.
These interventions can be performed using taxes and government expenditure (e.g. increasing/decreasing taxes and duties, awarding public contracts, expanding/reducing social benefits).
Structural policy uses interventions that change the structure of the economy to create a basis for faster growth or make the economy more resistant to negative external influences. They can also increase receptivity to positive changes. Some of the main objectives of structural policy therefore include creating an optimal environment for competition, ensuring flexibility, and modifying infrastructure to meet present-day requirements. Legislation, subsidies and promotional programmes are some of the tools used for this purpose.
As an element of general economic policy, however, structural policy is also subject to coordination at European level. The Europe 2020 strategy, for example, has significant implications for Austrian structural policy in coming years.