OECD expects Austria's economy to start recovering
The Organisation for Economic Co-operation and Development (OECD) stated that Austria's economic activity is projected to recover slowly from a two-year contraction, with GDP growing by 1.1 per cent in 2025 and 1.4 per cent in 2026.
ANI
Dec 07, 2024 15:03 IST
Vienna [Austria], December 7 (ANI/WAM): The Organisation for Economic Co-operation and Development (OECD) stated that Austria's economic activity is projected to recover slowly from a two-year contraction, with GDP growing by 1.1 per cent in 2025 and 1.4 per cent in 2026.
The budget deficit continues to exceed 3 per cent of GDP, according to OECD's Economic Outlook.
Austria's latest economic outlook report predicts that inflation will fall to the European Central Bank's 2.0 per cent target next year. Household consumption is to rise slightly again in the medium term, citing union negotiations to increase wages for different categories of workers due to inflation
Austria's economy is expected to shrink by 0.5 per cent this year, before gradually recovering to 1.1 per cent GDP growth in 2025, followed by an increase of 1.4 per cent in 2026, according to the latest estimates released by the organisation. (ANI/WAM)
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