Economic outlook for Austria

The OeNB’s Economic Outlook for Austria for 2016 to 2018 (June 2016)

Economic recovery in 2016 after four years of weak growth

According to its economic outlook of June 2016, the Oesterreichische Nationalbank (OeNB) expects the Austrian economy to stage a modest recovery, with GDP growth accelerating to 1.6% in 2016 after four years with growth rates below 1%. The increase in growth is driven in particular by two special domestic factors which both generate growth by stimulating demand: the coming into force of the income tax reform in January 2016 and the deficit-financed expenditure on asylum seekers and recognized refugees.

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