Austrian Economy Prepared for EMU. Medium-term Projection for the Austrian Economy Until 2002

Fritz Schebeck and Andrea Weber ()
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Fritz Schebeck: WIFO

Austrian Economic Quarterly, 1999, vol. 4, issue 1, pages 21-29

Abstract: In 1997–2002, Austrian GDP will grow by 2¾ percent p.a. on average in real terms. Supported by the strong competitive position of Austria's external sector, exports will continue their dynamic growth and the net exports are expected to furnish a positive contribution to GDP. Domestic demand in the projection period will be fuelled by the brisk growth of private consumption (+2 percent p.a. on average in real terms). As a consequence of a similar growth in real disposable income of private households, the household savings ratio will once again move towards its long-term equilibrium value. Gross fixed capital formation up to 2002 will rise at double the pace of 1991–1997, deriving its dynamism from machinery and equipment investment rather than construction investments. As a result of production expansion and measures under the National Action Plan for Employment, additional jobs could be created and unemployment could be slightly lower at the end of the projection period.

Keywords: Austrian; Economy; Prepared; for; EMU.; Medium-term; Projection; for; the; Austrian; Economy; Until; 2002 (search for similar items in EconPapers)

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Journal Article: Austrian Economy Prepared for EMU. Medium-term Projection for the Austrian Economy until 2002 (1998)
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