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Economic Growth to Remain Subdued Over the Years to Come. Medium-term Forecast for the Austrian Economy Until 2017

Author

Listed:
  • Serguei Kaniovski
  • Hans Pitlik

    (WIFO)

  • Stefan Schiman-Vukan

Abstract

During the period of 2012-2017, the Austrian economy is projected to grow at an average annual of 1.7 percent. The average growh rate will thus be lower than in the decade preceding the recent financial and economic crises. The main causes of this sluggish pace of economic growth will lie in the persistent cyclical sluggishness in the euro area and the moderate growth of domestic private consumption. Exports are expected to gain 5.2 percent per year. The labour market will remain fragile, despite rising employment. The rate of headline inflation is projected at slightly above 2 percent.

Suggested Citation

  • Serguei Kaniovski & Hans Pitlik & Stefan Schiman-Vukan, 2013. "Economic Growth to Remain Subdued Over the Years to Come. Medium-term Forecast for the Austrian Economy Until 2017," Austrian Economic Quarterly, WIFO, vol. 18(1), pages 15-24, April.
    • Handle: RePEc:wfo:wquart:y:2013:i:1:p:15-24
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    Citations

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    Cited by:

    1. Margit Schratzenstaller-Altzinger, 2015. "Short- and Medium-Term Prospects of Fiscal Policy. Draft Federal Budget 2014-15 and Federal Medium-Term Expenditure Framework 2015-2018," WIFO Bulletin, WIFO, vol. 20(3), pages 31-46, February.
    2. Stephan Schulmeister, 2013. "Growth Dynamics Exposed to Conflict Between Easy Monetary Conditions and Fiscal Restriction. Medium-term Forecast for the World Economy Until 2017," Austrian Economic Quarterly, WIFO, vol. 18(1), pages 25-40, April.

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    Keywords

    Medium-term Forecast Austria;

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