Austria: 2021 Article IV Consultation-Press Release; Staff Report; Staff Supplementary Information; and Statement by the Executive Director for Austria

September 9, 2021

Preview Citation

Format: Chicago

Austria: 2021 Article IV Consultation-Press Release; Staff Report; Staff Supplementary Information; and Statement by the Executive Director for Austria, (USA: International Monetary Fund, 2021) accessed November 8, 2024

Summary

Austria entered the crisis from a strong position. Prudent policies prior to the pandemic provided significant policy space. Several lockdowns helped contain the virus but significantly impaired the economy. Real GDP contracted by 6.3 percent in 2020 and declined further in early 2021. The 2021 recovery is expected to be modest; the tourism and hospitality sectors will continue to be affected. Over the medium term, growth will accelerate in 2022 and then stabilize at potential, but the output level will remain somewhat below the pre-COVID trend. Uncertainty remains high.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Balance of payments statistics, COVID-19, Crime, Economic and financial statistics, External sector statistics, Health, Income, International organization, Monetary policy, National accounts

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Balance of payments statistics, Central and Eastern Europe, COVID death, COVID infection, COVID-19, Eastern Europe, Europe, External sector statistics, Flash GDP estimate, Global, Income, Policy recommendation, Price development

Publication Details

Pages:

71
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/203
Stock No:

1AUTEA2021001
ISBN:

9781513596600
ISSN:

1934-7685

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