Higher Oil Prices and Budgetary Consolidation Dampen Economic Growth. Economic Outlook for 2000 and 2001

  • Ewald Walterskirchen

The rise in crude oil prices and more determined efforts to consolidate public finances will make for slower economic growth next year. Following a strong cyclical upswing in 2000 (+3.5 percent), activity is set to expand by a more moderate 2.8 percent in 2001.