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Austria: 2022 Article IV Consultation-Press Release; Staff Report

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  • International Monetary Fund

Abstract

Austria is highly vulnerable to spillovers from the war in Ukraine given its high dependence on energy imports from Russia, deep integration into global value chains, and large banking exposures. After high growth in the first half of 2022, growth is projected to fall sharply through 2023 due to impact of the war and the related energy crisis. Over the medium term, annual growth is projected to stabilize around 1¾ percent. However, output will remain below the pre-crisis trend. Uncertainty is extraordinarily high with significant downside risks.

Suggested Citation

  • International Monetary Fund, 2022. "Austria: 2022 Article IV Consultation-Press Release; Staff Report," IMF Staff Country Reports 2022/284, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2022/284
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=522764
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    Cited by:

    1. Iana Paliova, 2024. "Challenges of Bulgaria‘s Fiscal Policy towards Green Transition in the European Union," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 27-49.

    More about this item

    Keywords

    gas storage; staff appraisal; staff projection; gas reserve; HICP regulation; External sector statistics; Personal income tax; Inflation; Labor markets; Energy prices; Europe; Global;
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