Stable governance and predictable economic policies, which remain hallmarks of the Austrian political system. The government's strict adherence to fiscal consolidation, with priority on the reduction of deficits and debt. Wealthy and diversified economy set to grow, although at a slow pace. Sound external position. Gradual reforms to the pension, health, and elderly care systems, and administrative reorganization. Moderate contingent liabilities that we estimate at slightly above 30% of GDP, owing to the banking sector's currently only moderate capitalization. The ratings on the Republic of Austria are supported by Standard&Poor's Ratings Services' view of Austria's stable governance and predictable economic policies, as well as its wealthy, diversified, and highly competitive economy. The government has reiterated its strict adherence
