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EU Autumn Forecast Export continues to be Austria 's growth generator  




 Austria 's GDP growth will be higher than expected in 2008 and 2009, despite a slowdown. The debt burden is set to fall to the target level of 60% of GDP for the first time. 

According to the EU Commission's Autumn Forecast, Austria will achieve a household deficit of 0.8% this year. By 2009 Austria is set to cut new debt to 0.4% of GDP. However, government debt is set to reduce significantly even this year. For the first time since 1992, debt looks likely to fall to the Maastricht target levels of 60% of GDP. For 2008 and 2009 the debt burden should continue to fall to 58.4% und 57.2%. The EU Commission predicts that that GDP growth in Austria will slow slightly in the next two years. With growth rates of 2.7% for 2008 and 2.4% for 2009, the Austrian economy will continue to grow - and faster than previously predicted. For this year a plus of 3.3% is expected by the EU Commission. Investment and export remain the most important growth generators for the Austrian economy. Along with Finland , Slovenia and Greece , Austria is one of the few countries in the Euro zone for which the EU Commission has increased their growth forecasts.