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Austria: Nowotny Warns of Choking off Economic Growth

Published: December 6, 2013; 15:37 · (Vindobona)

The Austrian National Bank (OeNB) has slightly decreased this year’s economic growth from 0.5 percent to 0.4 percent. However, the recession of the past two years is over, the bank claims.

Austria: Nowotny Warns of Choking off Economic Growth / Picture: © Agenda Austria 2020

This year’s economic growth is still week, as pointed out by the Austrian National bank. Next year’s growth is supposed to increase to 1.6 percent, according to the central bank’s December prognosis, while in 2015 growth will accelerate to 1.9 percent. The National Bank assumes a structural budget deficit of 0.45 percent of GDP which results in consolidation requirements of around…

This article includes a total of 433 words.

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