Austria: Wifo Projects Gloomy Economic Outlook

Politics ♦ Published: February 21, 2014; 17:45 ♦ (Vindobona)

A restrained economic growth, high unemployment rate and measures for the consolidation of the state budget are the factors which affect the economic development on a medium-term.

Austria: Wifo Projects Gloomy Economic Outlook / Picture: ©

According to economic researcher at Wifo (Austrian Institute of Economic Research), the anticipated growth rate of 1.8 percent will not be able to prevent a further increase in unemployment rate. In the period from 2014 to 2018 Wifo expects real annual GDP growth to come at 1.8 percent, which is above the Eurozone’s average of 1.5 percent. However, the restrained private consumption…