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Central Bank Chairman: “Brexit hardly affects Austria”

Speaking to members of the Austrian parliament Central Bank Chairman, Edwald Nowotny, estimates a 0.3 % to 0.5% loss of growth until 2018, caused by the Brexit. Thus, Austria would be among those EU countries which are less affected. Also Federal Minister of Finance, Hans Jörg Schelling, shares this view in a statement on Thursday, 30 June.

After four economically fairly weak years, Austria expects an economic upswing. Mr. Nowotny counts on growth of about 1.6% for the current year, and also the years of 2017 as well as 2018 are expected to show an economic expansion by 1.5% respectively.

This process should mainly be triggered by fiscal reforms. Furthermore it is positively influenced by rising equipment investments.

Picture : © OeNB