Temporary Slowdown of Economic Activity in Austria Expected to Be Overcome Fast, but Downside Risks Increased — Economic Outlook for Austria from 2005 to 2007 (June 2005)

Gerhard Fenz () and Johann Scharler ()
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Gerhard Fenz: Oesterreichische Nationalbank, Economic Analysis Divison, http://www.oenb.at
Johann Scharler: Simon Fraser University, Department of Economics, 8888 University Drive, Burnaby, B.C., Canada V5A 1S6, http://www.oenb.at

Monetary Policy & the Economy, 2005, issue 2, 8–26

Abstract: According to the June 2005 economic outlook of the Oesterreichische Nationalbank (OeNB), Austria's real gross domestic product (GDP) is projected to grow 2.0% in 2005 and to advance to 2.2% both in 2006 and 2007. Fueled by the oil price surge, inflation as measured by the Harmonised Index of Consumer Prices (HICP) will rise to 2.3% in 2005 before dropping noticeably below the 2 percent mark in subsequent years. The second stage of the tax reformwill result in the budget deficit (Maastricht definition) declining temporarily to 1.8% and 1.7% of GDP in 2005 and 2006, respectively. In 2007, the budget balance will improve to —1.3% of GDP.

Keywords: Economic; Forecast (search for similar items in EconPapers)
Date: 2005
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