{"id":85817,"date":"2024-01-22T09:05:54","date_gmt":"2024-01-22T08:05:54","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/85817\/"},"modified":"2024-11-06T23:57:04","modified_gmt":"2024-11-06T22:57:04","slug":"growth-to-slacken-in-1999-tax-reform-to-boost-domestic-demand-in-2000-economic-outlook-for-1999-and-2000-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/85817\/","title":{"rendered":"Growth to Slacken in 1999 \u2013 Tax Reform to Boost Domestic Demand in 2000. Economic Outlook for 1999 and 2000"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-85817","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Economic growth in Austria is expected to moderate to 2.2 percent as a result of the slowdown in the world economy. Exports, which have long been the mainstay of the upswing, are forecast to expand only modestly. Economic activity continues to be bolstered by strong consumer spending which benefits from high real income gains. Real net wages and salaries are expected to rise by 2\u00be percent in the current year and by 3\u00bc percent in the year 2000, with part of the gains due to the \"family\" package and the tax reform 2000. On the downside, the cost of the tax reform and of the \"family package\" will raise the Federal budget deficit in the year 2000. An increase in the general government deficit to 2\u00bd percent of GDP seems likely, unless strict discipline is applied to government expenditures. In accordance with most international forecasting institutions, WIFO expects economic growth to accelerate to 2.6 percent in the year 2000. In this scenario, which at present is the most likely, the economic slump which began in the middle of 1998 proves to be only temporary. The international risks which might justify a more pessimistic outlook remain substantial, however. The expected slight drop in the unemployment rate from 4.5 percent in 1998 to 4.2 percent in 2000 corresponds to a marked expansion in employment resulting from the rise in labour-intensive domestic demand.","onlinedate":"1999-04-01 02:00:00","lang":"English","publication_series":"","publication_date":"19990401","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"Growth to Slacken in 1999 \u2013 Tax Reform to Boost Domestic Demand in 2000. Economic Outlook for 1999 and 2000\"]","jelcodes":"[]","related_publications":"[]","pdf":276896,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"4","monthly_report_pages":"91-97","monthly_report_pages_sort":"91","issue":"2","journal":"Austrian Economic Quarterly","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[183747],"research_groups":[3500],"collaboration":"","persons":[3893],"persons_data":"[{\"personId\":3893,\"personName\":\"Ewald Walterskirchen\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Walterskirchen, E.<\\\/span> (1999). <span>Growth to Slacken in 1999 \u2013 Tax Reform to Boost Domestic Demand in 2000. Economic Outlook for 1999 and 2000<\\\/span>. <span><em>Austrian Economic Quarterly<\\\/em><\\\/span>, <em>4<\\\/em>(2), 91-97. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/664\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/664<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Walterskirchen E<\\\/span>. <span class=\\\"title\\\"><span>Growth to Slacken in 1999 \u2013 Tax Reform to Boost Domestic Demand in 2000. Economic Outlook for 1999 and 2000<\\\/span><\\\/span>. <span>Austrian Economic Quarterly<\\\/span>. 1999 Apr;4(2):91-97.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{e0a4014dcdd5405c9655fba6845429a1,<\\\/div><div>  title    = \\\"Growth to Slacken in 1999 \u2013 Tax Reform to Boost Domestic Demand in 2000. Economic Outlook for 1999 and 2000\\\",<\\\/div><div>  abstract = \\\"Economic growth in Austria is expected to moderate to 2.2 percent as a result of the slowdown in the world economy. Exports, which have long been the mainstay of the upswing, are forecast to expand only modestly. Economic activity continues to be bolstered by strong consumer spending which benefits from high real income gains. Real net wages and salaries are expected to rise by 2\u00be percent in the current year and by 3\u00bc percent in the year 2000, with part of the gains due to the {\\\"}family{\\\"} package and the tax reform 2000. On the downside, the cost of the tax reform and of the {\\\"}family package{\\\"} will raise the Federal budget deficit in the year 2000. An increase in the general government deficit to 2\u00bd percent of GDP seems likely, unless strict discipline is applied to government expenditures. In accordance with most international forecasting institutions, WIFO expects economic growth to accelerate to 2.6 percent in the year 2000. In this scenario, which at present is the most likely, the economic slump which began in the middle of 1998 proves to be only temporary. The international risks which might justify a more pessimistic outlook remain substantial, however. The expected slight drop in the unemployment rate from 4.5 percent in 1998 to 4.2 percent in 2000 corresponds to a marked expansion in employment resulting from the rise in labour-intensive domestic demand.\\\",<\\\/div><div>  keywords = \\\"Growth to Slacken in 1999 \u2013 Tax Reform to Boost Domestic Demand in 2000. Economic Outlook for 1999 and 2000, Growth to Slacken in 1999 \u2013 Tax Reform to Boost Domestic Demand in 2000. Economic Outlook for 1999 and 2000\\\",<\\\/div><div>  author   = \\\"Ewald Walterskirchen\\\",<\\\/div><div>  note     = \\\"Outlook\\\",<\\\/div><div>  year     = \\\"1999\\\",<\\\/div><div>  month    = apr,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  volume   = \\\"4\\\",<\\\/div><div>  pages    = \\\"91--97\\\",<\\\/div><div>  journal  = \\\"Austrian Economic Quarterly\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Growth to Slacken in 1999 \u2013 Tax Reform to Boost Domestic Demand in 2000. Economic Outlook for 1999 and 2000<\\\/p><p>AU  - Walterskirchen, Ewald<\\\/p><p>N1  - Outlook<\\\/p><p>PY  - 1999\\\/4<\\\/p><p>Y1  - 1999\\\/4<\\\/p><p>N2  - Economic growth in Austria is expected to moderate to 2.2 percent as a result of the slowdown in the world economy. Exports, which have long been the mainstay of the upswing, are forecast to expand only modestly. Economic activity continues to be bolstered by strong consumer spending which benefits from high real income gains. Real net wages and salaries are expected to rise by 2\u00be percent in the current year and by 3\u00bc percent in the year 2000, with part of the gains due to the \\\"family\\\" package and the tax reform 2000. On the downside, the cost of the tax reform and of the \\\"family package\\\" will raise the Federal budget deficit in the year 2000. An increase in the general government deficit to 2\u00bd percent of GDP seems likely, unless strict discipline is applied to government expenditures. In accordance with most international forecasting institutions, WIFO expects economic growth to accelerate to 2.6 percent in the year 2000. In this scenario, which at present is the most likely, the economic slump which began in the middle of 1998 proves to be only temporary. The international risks which might justify a more pessimistic outlook remain substantial, however. The expected slight drop in the unemployment rate from 4.5 percent in 1998 to 4.2 percent in 2000 corresponds to a marked expansion in employment resulting from the rise in labour-intensive domestic demand.<\\\/p><p>AB  - Economic growth in Austria is expected to moderate to 2.2 percent as a result of the slowdown in the world economy. Exports, which have long been the mainstay of the upswing, are forecast to expand only modestly. Economic activity continues to be bolstered by strong consumer spending which benefits from high real income gains. Real net wages and salaries are expected to rise by 2\u00be percent in the current year and by 3\u00bc percent in the year 2000, with part of the gains due to the \\\"family\\\" package and the tax reform 2000. On the downside, the cost of the tax reform and of the \\\"family package\\\" will raise the Federal budget deficit in the year 2000. An increase in the general government deficit to 2\u00bd percent of GDP seems likely, unless strict discipline is applied to government expenditures. In accordance with most international forecasting institutions, WIFO expects economic growth to accelerate to 2.6 percent in the year 2000. In this scenario, which at present is the most likely, the economic slump which began in the middle of 1998 proves to be only temporary. The international risks which might justify a more pessimistic outlook remain substantial, however. The expected slight drop in the unemployment rate from 4.5 percent in 1998 to 4.2 percent in 2000 corresponds to a marked expansion in employment resulting from the rise in labour-intensive domestic demand.<\\\/p><p>KW  - Growth to Slacken in 1999 \u2013 Tax Reform to Boost Domestic Demand in 2000. Economic Outlook for 1999 and 2000<\\\/p><p>KW  - Growth to Slacken in 1999 \u2013 Tax Reform to Boost Domestic Demand in 2000. Economic Outlook for 1999 and 2000<\\\/p><p>M3  - WIFO series<\\\/p><p>VL  - 4<\\\/p><p>SP  - 91<\\\/p><p>EP  - 97<\\\/p><p>JO  - Austrian Economic Quarterly<\\\/p><p>JF  - Austrian Economic Quarterly<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","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 v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Growth to Slacken in 1999 \u2013 Tax Reform to Boost Domestic Demand in 2000. 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