Austria: 2021 Article IV Consultation-Press Release; Staff Report; Staff Supplementary Information; and Statement by the Executive Director for Austria
IMF Staff Country Reports, September 9, 2021
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- Austria: 2021 Article IV Consultation-Press Release; Staff Report; Staff Supplementary Information; and Statement by the Executive Director for Austria
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Bibliographic details
- Published: September 9, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513596600.002
Economic impact and headline findings
- Real GDP contracted by 6.3 percent in 2020.
- Real GDP declined further in early 2021.
- Several lockdowns helped contain the virus but significantly impaired the economy.
- Austria entered the crisis from a strong position; prudent policies prior to the pandemic provided significant policy space.
2021–medium term outlook
- The 2021 recovery is expected to be modest.
- The tourism and hospitality sectors will continue to be affected in 2021.
- Over the medium term:
- Growth will accelerate in 2022.
- Growth will then stabilize at potential.
- The output level will remain somewhat below the pre-COVID trend.
- Uncertainty remains high.
Thematic coverage and subjects addressed
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- Balance of payments statistics
- COVID-19 (including COVID death, COVID infection)
- Crime
- Economic and financial statistics
- External sector statistics
- Health
- Income
- International organization
- Monetary policy
- National accounts
Content in this bundle
- 1autea2021001