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Austria's state secretary says confident to bring down unemployment rate

Xinhua, August 31, 2016 Adjust font size:

Austria's economy will be definitely back on track by 2020 and the unemployment rate will be brought down, State Secretary Harald Mahrer told Xinhua on Tuesday.

Harald said although Austria's economy growth is slow in the past years, he is confident the government is working to push the country back to a higher growth track.

"In the last eight to nine years we are not so much in changing the economic structure, just in keeping them, the way before 2008," Harald said.

While other economies are changing their structure, Harald noted the Austrian government is doing more to push the economy forward, including the applied research which would explore the new products and services.

"Austria will be back on track definitely by 2020, I am quite sure," said Harald.

As a developed economy, Austria no longer enjoys its low unemployment rate in the EU while its economy growth is getting slower.

He said he is confident to bring down the unemployment rate, "the simple path is the labor market flexibility."

He told Xinhua, to bring down unemployment rate, the government would foster the private investment which would create new companies, while pushing to invest much more in the education sectors.

"I do think in this government's period and next one, we will be able to bring down the unemployment rate and bring back growth rate we have before 2007," Harald said.

Austria is waiting for its next president, who is supposed to be elected on Oct. 2.

So far, right wing Free Party (FPO) candidate Norbert Hofer is the leading runner in the most recent poll of presidential election.

Hofer has softened his stands in EU after Brexit, but he is still somehow seen as an European skeptic politician who said he would use more power of the president if elected, although the president of the country is symbolic and with limited power.

"I do not think any of the two candidates will do this (intervene the government's economy policy, including the membership of the EU) because it is not wise, it is not good for the country at all," Mahrer, who works for the ministry of science, research and economy.

When asked about some people want to follow Brexit, he said " I do not think that's an option." Endit