Growth Stimulus from Tax Reform in 2005 to Overshadow Weaker Global Economic Momentum

Gerhard Fenz () and Martin Schneider ()
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Gerhard Fenz: Oesterreichische Nationalbank, Economic Analysis Divison, http://www.oenb.at

Monetary Policy & the Economy, 2004, issue 4, 6–24

Abstract: According to the fall 2004 economic outlook of the Oesterreichische Nationalbank (OeNB), Austria's real gross domestic product (GDP) is projected to increase to 1.8% in 2004. Economic growth of 2.3% and 2.1% is expected in 2005 and 2006, respectively. Fuelled by the rise in oil prices, in particular, inflation as measured by the Harmonized Index of Consumer Prices (HICP) will be 1.9% in 2004, 2.0% in 2005 and 1.7% in 2006. The second stage of the tax reform will result in the budget deficit (Maastricht definition) deepening from 1.4% in 2004 to 2.0% in 2005 and to 1.8% in 2006.

Keywords: Economic; Forecast (search for similar items in EconPapers)
Date: 2004
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