{"id":49531,"date":"2023-11-20T15:51:54","date_gmt":"2023-11-20T14:51:54","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/oesterreichs-wirtschaft-waechst-mittelfristig-nur-verhalten\/"},"modified":"2024-04-21T12:02:09","modified_gmt":"2024-04-21T10:02:09","slug":"oesterreichs-wirtschaft-waechst-mittelfristig-nur-verhalten","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/49531\/","title":{"rendered":"Sluggish Economic Growth in Austria over the Medium Term"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-49531","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"Medium-term Forecast of the Austrian Economy 2024 to 2028","text":"Driven by international developments, the Austrian economy is gradually recovering from the recession in 2023 (\u20130,8 percent). WIFO already expects real economic growth of almost 1\u00be percent for 2026. For 2024-2028, average GDP growth is projected at 1\u00bd percent p.a. (\u00d8 2010-2019 +1.5 percent p.a.). Demographic trends will intensify the shortage of labour force in the forecast period. On the one hand, this dampens the medium-term outlook, but on the other hand it noticeably reduces unemployment: the unemployment rate already fell below the pre-crisis level of 2019 in 2022 and is expected to decline to 5.8 percent by 2028. The strong upward trend in prices observed from the end of 2021 continues in 2023 (+7.7 percent). In 2024, the inflation rate will decline to 4 percent and gradually approaches the ECB's 2 percent target by 2028. The deficit ratio is forecasted at 2\u00bd percent of nominal GDP in 2023, falls to 1\u00bd percent by 2025 and rises slightly to 1.8 percent of GDP by the end of the forecast period.","onlinedate":"2023-11-10 12:00:00","lang":"German","publication_series":"","publication_date":"20231001","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[]","jelcodes":"[\"E32\",\"E37\",\"E66\",\"D31\"]","related_publications":"[\"1fd19c2a-a959-425e-af80-9c479000f30a\",\"df334c50-1b1b-4d42-a61c-89400f8e98d2\",\"7d3a975d-b906-4b63-831c-2c34bc25c1ea\",\"ec6fd70e-d675-457c-9412-8d0e8b87a458\",\"ace6bcd2-b58a-47fb-afab-4e927d28cd66\",\"72fb4c56-be1e-457f-9bb1-3c5c59697927\"]","pdf":257447,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"96","monthly_report_pages":"667-683","monthly_report_pages_sort":"667","issue":"10","journal":"WIFO-Monatsberichte","publisher":"","invisible":false,"external":false,"embargo_date":"2023-11-10 00:00:00","types":[44312],"research_groups":[3500],"collaboration":"","persons":[3530,3641,3792],"persons_data":"[{\"personId\":3530,\"personName\":\"Josef Baumgartner\",\"organisationNames\":[]},{\"personId\":3641,\"personName\":\"Serguei Kaniovski\",\"organisationNames\":[]},{\"personId\":3792,\"personName\":\"Hans Pitlik\",\"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":"[\"Loretz Simon\",\"Scheiblecker Marcus\"]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - 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