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IMF Survey: Austrian Economy Recovering

Austria'sEconomy © photocase.com/apfelholz

© photocase.com/apfelholz

July 9, 2010

The International Monetary Fund (IMF) in Washington D.C. recently published report on the state of the Austrian economy

The Austrian economy is recovering from its recession. In line with the recovery in world trade, growth picked up in the second half of 2009 and is projected to be around 1 ½ percent in 2010 and 2011. Austria is facing a number of challenges. As a very open and competitive economy, Austria had benefited from strong links with dynamic neighboring countries up to the crisis, and experienced higher growth than the euro area average. However, this integration also bears risks, notably in the financial sector. Growth in some Central, Eastern and Southeastern European (CESEE) countries is likely to be lower than before the crisis, while the labor force is aging. Austria should adopt policies to strengthen its growth potential. Read more at http://www.imf.org/external/np/ms/2010/062910.htm

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