Favourable Medium-term Growth Prospects but Sustained Budget Problems. Medium-term Projection for the Austrian Economy 2000 to 2004

Josef Baumgartner, Ewald Walterskirchen and Andrea Weber
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Ewald Walterskirchen: WIFO

Austrian Economic Quarterly, 2000, vol. 5, issue 1, 19-24

Abstract: During the projection period of 1999–2004, the Austrian GDP is expected to average a growth of 2.5 percent p.a. in real terms. It will thus grow at a marginally lower rate than the EU average, as measures expected to be taken to consolidate the Austrian budget will act as a slight brake. Consequent to vigorous expansion in Europe, exports will develop dynamically. Austrian exports will rise to 50 percent of GDP. Employment continues its strong expansion. However, since growth is concentrated on part-time jobs, unemployment will decline only slightly. The NAP target of reducing the unemployment rate to 3.5 percent by 2002 can thus be met only by taking additional labour market policy measures. Dynamic growth prospects by itself will not suffice to make a major dent into the problems of public households.

Keywords: Favourable; Medium-term; Growth; Prospects; but; Sustained; Budget; Problems.; Medium-term; Projection; for; the; Austrian; Economy; 2000; to; 2004 (search for similar items in EconPapers)
Date: 2000
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