{"id":425835,"date":"2025-05-07T16:51:16","date_gmt":"2025-05-07T14:51:16","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/425835\/"},"modified":"2025-05-07T16:51:17","modified_gmt":"2025-05-07T14:51:17","slug":"global-trade-conflicts-fiscal-austerity-and-structural-issues-are-restraining-economic-growth-in-austria","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/425835\/","title":{"rendered":"Global Trade Conflicts, Fiscal Austerity and Structural Issues are Restraining Economic Growth in Austria"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-425835","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"Update of the Medium-term Forecast 2025 to 2029","text":"The upturn in the eurozone from 2026 onwards, driven by Germany's expansionary fiscal policy, will also gradually help the Austrian economy out of recession. After \u20130.3 percent in 2025, WIFO expects real economic growth of 1\u00bc percent p.a. for 2026-2029 (average 2010-2019 +1.6 percent p.a.). However, as fiscal policy in Austria is geared towards budget consolidation and the spillover effects of the German infrastructure and defense package will be low, Austria's economy is likely to grow by \u00be percentage points p.a. less than the eurozone in 2025-2029. Demographic change will exacerbate the labour shortage in the forecast period. While this will dampen trend growth, it will also reduce unemployment: the unemployment rate is expected to fall to 6 percent by 2029 (2025: 7.3 percent). The strong inflation observed since the end of 2021 (\u00d8 2022-23 +8\u00bc percent p.a.) continues to slow significantly (2025: 2.7 percent) and reaches the 2 percent target of the European Central Bank (ECB) permanently in the course of 2026.","onlinedate":"2025-05-07 14:51:17","lang":"German","publication_series":"","publication_date":"20250507","publication_date_year":"","publication_date_full":true,"publication_num_pages":"","keywords":"[]","jelcodes":"[\"E32\",\"E37\",\"E66\",\"D31\"]","related_publications":"[\"c5eeb702-afd0-4913-8ea2-bfddd694c57a\",\"7c48e4d1-54b1-4b76-b84e-ca0e865d0aae\",\"33ec6f39-f226-453e-b8cc-154ca4a7bbe6\",\"f43f876f-e4b9-4ac0-93f3-002490f7e22a\",\"7e0c0ff8-4d70-47dd-aeed-d57adf117ec6\"]","pdf":425837,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"98","monthly_report_pages":"179-190","monthly_report_pages_sort":"179","issue":"4","journal":"WIFO-Monatsberichte","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44312],"research_groups":[3500],"collaboration":"","persons":[3530,3641],"persons_data":"[{\"personId\":3530,\"personName\":\"Josef Baumgartner\",\"organisationNames\":[]},{\"personId\":3641,\"personName\":\"Serguei Kaniovski\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","scientific_assistance":"[\"Glauninger Ursula\",\"Kaufmann Christine\"]","scientific_review":"[\"Scheiblecker Marcus\",\"Url Thomas\"]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"\nGlobal Trade Conflicts, Fiscal Austerity and Structural Issues are Restraining Economic Growth in Austria - 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