Austria
2005; Organization for Economic Cooperation and Development; Linguagem: Inglês
10.1787/eco_outlook-v2005-1-13-en
ISSN1609-7408
Tópico(s)Hungarian Social, Economic and Educational Studies
ResumoGrowth of GDP is expected to be about 2% in 2005, much the same as in 2004, with the positive stimulus from deficit-financed tax reductions offset by slower growth of export markets on a year-over-year basis. With growth picking up to 2¼ per cent in 2006, unemployment may begin to fall, notwithstanding strong labour supply growth, while the impact of higher oil prices on inflation is likely to fade.Although legislated pension harmonisation marks progress towards long-term sustainability of government finances, further reductions in general government outlays will be necessary to offset the impact of tax reductions on the deficit and make progress in moving it back to balance.
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