Sovereign Debt Crisis Tightening Its Grip on the Real Economy. Economic Outlook for 2012 and 2013
AbstractThe sovereign debt crisis in the euro area prompted many EU countries to step up efforts at fiscal consolidation in order to stem the rise in interest rates on their government bonds. This will dampen internal demand in the years to come, in particular if budgetary retrenchment should lose sight of policies for long-term economic growth and labour market conditions. At the same time, business activity outside the euro area is losing momentum. As a consequence, GDP growth in Austria is projected to slow down to a modest 0.4 percent in 2012. In 2013, Austria will benefit from the expected global recovery, although growth will remain subdued at 1.6 percent in volume, given the continued restrictive stance of fiscal policy across Europe.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by WIFO in its journal WIFO-Monatsberichte.
Volume (Year): 85 (2012)
Issue (Month): 1 (January)
Postal: Austrian Institute of Economic Research Publikationsverkauf und Abonnentenbetreuung Arsenal, Objekt 20 A-1030 Vienna/Austria
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ilse Schulz).
If references are entirely missing, you can add them using this form.