Cover IMF Staff Country Reports
Austria: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Austria
Author: International Monetary Fund. European Dept.
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2018: Issue 272
Language:
English
Publication Date:
12 Sep 2018
DOI:
https://doi.org/10.5089/9781484375846.002
ISBN:
9781484375846
ISSN:
1934-7685
Pages:
53
Keywords:
ISCR; CR; discussion; authority; consultation discussion; cost reduction; house price development; consumer confidence; employment growth; economic policy discourse; cost pressure; Austrian authorities; lending standard; Labor markets; Loans; Fiscal stance; Unemployment; Europe; Central and Eastern Europe
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This 2018 Article IV Consultation highlights that Austria’s economic recovery is strong and broad-based. Following several years of slow growth, Austria’s output picked up markedly in 2017, and through early-2018. Output expanded by 3 percent in 2017, boosted by income tax cuts passed in 2016, higher public spending on refugees and a recovery in private investment in 2017, laying the foundation for a sustained robust expansion. Consumer and business confidence indicators have surpassed levels observed before the Global Financial Crisis and credit growth has recovered. The near-term outlook is for strong growth in 2018, at 3 percent, and a gradual return to a potential growth of about 1.75 percent over the medium-term.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund