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Austrian National Bank Publishes Macroeconomic Forecast for 2023 to 2025
According to the published forecast of the Oesterreichische Nationalbank (OeNB), the Austrian economy is expected to pick up speed in the second half of 2023, with GDP growing by 0.5 percent in 2023. Accelerated growth of 1.7 percent is forecast for 2024. Although HICP inflation will fall steadily after the highs at the beginning of the year, it will still be above average at 2.9 percent in 2025.
The Austrian National Bank (OeNB) regularly prepares forecasts for the Austrian economy. / Picture: © Wikimedia Commons / Bwag / CC BY-SA (https://creativecommons.org/licenses/by-sa/4.0)
After the recovery process from the COVID-19 pandemic stalled in the second half of 2022, the Austrian economy found itself in a period of stagnation due to uncertainties stemming from the Russian war of aggression, lower momentum in the international environment, and the sharp rise in energy prices. "We are currently in a phase of zero growth and continued high inflation, but in the…
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