Austria eyes housing push to spur economy

Austria plans to bring forward public sector investments and push new housing construction to help spur output, Economy Minister Reinhold Mitterlehner was quoted as saying. "The economic situation in Europe is headed toward stagnation. We have to act against this," Mitterlehner, a conservative, who is also deputy chancellor in the coalition with Social Democrats, told the Oesterreich newspaper.
He said Austria was counting on a 315 billion euro ($364 billion) European Union scheme to boost investment but also needed initiatives at the national level.
"One very important one in 2015 will be intensifying housing construction, bringing forward planned projects given the favourable interest rates. Up to 5 billion euros is at stake in the housing initiative," Mitterlehner, of the People's Party, said in an interview published on Sunday.