New Austrian chancellor must oversee economic resurgence: economic official

President of the Austrian Federal Economic Chambers (WKO) Christoph Leitl has called on new Chancellor Christian Kern to oversee a resurgence in the country's economic competitiveness and overall standing.

In an interview with the Austria Press Agency published Tuesday, Leitl said he is expecting a "thrust reversal from descent to a renewed ascent" from the new leader who has just been sworn in.

He lamented that in the past few years Austria has been falling back "step by step," and stressed the need for a resurgence. He noted in particular that Europe had seen weaker growth than the United States in 2015.

"It is a disgrace how far back we have fallen," he added, noting that Austria had formerly been at the head of the pack in terms of growth.

He said Kern, the former head of the state-owned Austrian Federal Railways, possesses management skills, in particular to be able to set goals, to gain approval for these goals, and then to be able to implement them along with relevant controls.

This would come in contrast to a previous lack of such management skills, he argued.

He thus hopes for a "return to growth" along with a "welcoming culture" for the net contributors in the country.

In addition he said taxpayers have been "frustrated" by four austerity packages in a row, and the new government under Kern must provide them with a new source of motivation in the form of economic and growth impulses, and as a result employment impulses.

Separately the President of the Federation of Austrian Industries (IV), Georg Kapsch, also called on the new government to take much-needed action.

In a press release, Kapsch congratulated the new chancellor on his appointment, but said Austria has no time to lose in attempting to move forward again, particularly where efforts to curb sharply rising unemployment along with constantly sinking global competitiveness are concerned. Endit