‘Austrian economy not to regain momentum until 2014′
January 24th, 2012 - 3:12 pm ICT by IANSVienna, Jan 24 (IANS) The Austrian economy will not regain momentum until 2014, the Austrian Institute of Economic Research (WIFO) said Monday.
According to its long term forecast for the Austrian economy from 2012 to 2016, the average yearly GDP growth is expected at about 1.6 percent compared to 2.1 percent in the period of 2006 to 2011, reported Xinhua.
It will increase by 0.4 percent in 2012 and 1.6 percent in 2013; the growth rates will be again higher than two percent since 2014, said spokesperson Stefan Ederer in a press release Monday.
In the next five years, exports should grow by 5.5 percent annually and imports by 5.1 percent. Foreign trade remains the main driver of Austrian economic rebound, WIFO said.
The general government budget deficit will be 3 percent of GDP in 2012, 2.8 percent in 2013, 2.6 percent in 2013, 2.2 percent in 2015 and 1.9 percent in 2016.
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