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Exports Drive Growth – Domestic Demand Remains Subdued. Medium-term Projections for the Austrian Economy until 2015

Author

Listed:
  • Josef Baumgartner
  • Serguei Kaniovski
  • Hans Pitlik
  • Margit Schratzenstaller
  • Thomas Url

    (WIFO)

Abstract

Real gross domestic product will expand by 2.2 percent per year during 2011-2015. The unemployment rate (according to the Public Employment Service Austria, AMS) will amount to 6.8 percent on average during 2011-2015. Due to increasing foreign and domestic labour supply labour market conditions will not ease further. Owing to measures to consolidate public finances and improveing economic activity the budget deficit is expected to fall below 2 percent of GDP by 2015. The inflation rate will rise to 2.1 percent in 2011 driven by tax increases and rising commodity prices. Over the forecast period consumer price will increase on average by 1.9 percent per year.

Suggested Citation

  • Josef Baumgartner & Serguei Kaniovski & Hans Pitlik & Margit Schratzenstaller & Thomas Url, 2011. "Exports Drive Growth – Domestic Demand Remains Subdued. Medium-term Projections for the Austrian Economy until 2015," Austrian Economic Quarterly, WIFO, vol. 16(1), pages 21-34, March.
    • Handle: RePEc:wfo:wquart:y:2011:i:1:p:21-34
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    References listed on IDEAS

    as
    1. Ewald Walterskirchen, 2010. "The Burst of the Real Estate Bubble – More Than a Trigger for the Financial Market Crisis," Austrian Economic Quarterly, WIFO, vol. 15(1), pages 86-93, April.
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    4. Serguei Kaniovski & Hans Pitlik & Sandra Steindl & Thomas Url, 2008. "A Decomposition of Austria's General Government Budget into Structural and Cyclical Components," WIFO Working Papers 316, WIFO.
    5. Sandra Steindl, 2006. "Potentialwachstum in Österreich. Schätzung und Diskussion der angebotsseitigen Wachstumschancen," WIFO Monatsberichte (monthly reports), WIFO, vol. 79(12), pages 881-891, December.
    6. Werner Hölzl & Thomas Leoni & Christine Zulehner, 2009. "Internationale Lohnstückkostenposition 2008 leicht verbessert," WIFO Monatsberichte (monthly reports), WIFO, vol. 82(9), pages 703-714, September.
    7. Hans Pitlik & Kristina Budimir & Norbert Gruber, 2010. "Options for Budget Consolidation on the Expenditure Side," Austrian Economic Quarterly, WIFO, vol. 15(2), pages 211-230, July.
    8. Alois Guger, 2003. "Internationale Lohnstückkostenposition 2002 geringfügig verbessert," WIFO Monatsberichte (monthly reports), WIFO, vol. 76(9), pages 683-691, September.
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