Austria: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Austria

September 12, 2018

Preview Citation

Format: Chicago

Austria: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Austria, (USA: International Monetary Fund, 2018) accessed November 8, 2024

Summary

This 2018 Article IV Consultation highlights that Austria’s economic recovery is strong and broad-based. Following several years of slow growth, Austria’s output picked up markedly in 2017, and through early-2018. Output expanded by 3 percent in 2017, boosted by income tax cuts passed in 2016, higher public spending on refugees and a recovery in private investment in 2017, laying the foundation for a sustained robust expansion. Consumer and business confidence indicators have surpassed levels observed before the Global Financial Crisis and credit growth has recovered. The near-term outlook is for strong growth in 2018, at 3 percent, and a gradual return to a potential growth of about 1.75 percent over the medium-term.

Subject: Banking, Expenditure, Financial institutions, Fiscal policy, Fiscal stance, Labor, Labor markets, Loans, Unemployment

Keywords: Austrian authorities, Authority, Central and Eastern Europe, Consultation discussion, Consumer confidence, Cost pressure, Cost reduction, CR, Discussion, Economic policy discourse, Employment growth, Europe, Fiscal stance, House price development, ISCR, Labor markets, Lending standard, Loans, Unemployment

Publication Details

Pages:

53
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/272
Stock No:

1AUTEA2018002
ISBN:

9781484375846
ISSN:

1934-7685

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