IMF expects Austrian economy to improve by 1.1% in 2025
The International Monetary Fund (IMF) has forecasted an improvement in Austria's economy next year, with real GDP growth projected at 1.1 per cent compared to the current economic situation.
ANI
Nov 02, 2024 18:39 IST
Vienna [Austria], November 2 (ANI/WAM): The International Monetary Fund (IMF) has forecasted an improvement in Austria's economy next year, with real GDP growth projected at 1.1 per cent compared to the current economic situation.
In contrast, the IMF expects a decline of 0.6 per cent in Austria's economic output for 2024, according to its latest estimates.
The IMF's predictions align with those of Austrian economic institutions for the current year.
Similar to the Austrian Institute of Economic Research and the Institute for Advanced Studies (IHS), the IMF anticipates a 0.6 per cent decrease in economic output. However, the IMF is more optimistic about Austria's economic recovery in 2025, projecting a real GDP growth rate of 1.1 per cent.
This estimate contrasts slightly with the main Austrian institutions' forecasts, which range from 1 per cent by Wifo to 0.8 per cent according to IHS.
In the same context, economists at Bank Austria have projected a modest economic recovery in 2025, forecasting a 1.5 per cent growth in Austria's economy next year.
The bank's studies suggest that the local economy is likely to benefit from improved investment conditions in the country, driven by the anticipated global economic recovery and the positive influence of growth engines outside Europe. (ANI/WAM)
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