Austria: Staff Report for the 2005 Article IV Consultation
July 25, 2005
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This 2005 Article IV Consultation highlights that economic activity in Austria gathered speed in 2004, supported mostly by strong export performance. Growth of real GDP rose to 2.2 percent in 2004. Consumption growth was modest, in view of small gains in employment and nominal wage growth barely matching inflation. Investment demand continued to expand, benefiting from the improved prospects for exports and the extension of tax incentives through end-2004. Progress in the structural area has been impressive, and this has contributed to Austria’s relatively favorable growth performance in the past period.
Subject: Budget planning and preparation, Expenditure, Fiscal policy, Pension spending, Public debt, Public financial management (PFM)
Keywords: authorities' strategy, authority, Budget planning and preparation, Central and Eastern Europe, CR, Eastern Europe, Europe, foreign currency, General government balance, government, growth, implementation of a variety, ISCR, labour market authority, one-off government measure, Pension spending, policy objective, reform agenda, risk-diversification strategy point of view, supervisory authority
Pages:
43
Volume:
2005
DOI:
Issue:
248
Series:
Country Report No. 2005/248
Stock No:
1AUTEA2005001
ISBN:
9781451802368
ISSN:
1934-7685
