Austria: 2016 Article IV Consultation-Press Release; and Staff Report for Austria

February 2, 2017

Preview Citation

Format: Chicago

Austria: 2016 Article IV Consultation-Press Release; and Staff Report for Austria, (USA: International Monetary Fund, 2017) accessed September 19, 2024

Summary

This 2016 Article IV Consultation highlights that the economic recovery in Austria has strengthened in 2016. GDP growth in 2016 is estimated at 1.4 percent, an improvement over the average growth of 0.6 percent in 2012–15. Growth has been broad-based, driven by private consumption supported by income tax cuts, a recovery in investment, and higher public consumption owing to spending on refugees. Employment growth has picked up as well. The outlook for 2017 appears similarly robust, while in the medium term growth would decline toward its potential rate, which IMF staff estimate at slightly higher than 1 percent. Risks to the outlook are mainly external, with limited likely impact overall.

Subject: Banking, Employment, Expenditure, Fiscal stance, Labor, Labor force participation, Public debt

Keywords: Austria, Consultation discussion, CR, Currency of Austria, Economy, Employment, Executive board assessment, GDP, Global, ISCR, Labor force participation, Merchandise trade data, Money market rate, Potential GDP, SDDS flexibility option

Publication Details

Pages:

51
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/026
Stock No:

1AUTEA2017001
ISBN:

9781475573169
ISSN:

1934-7685

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