English, Article edition: Cyclical Weakening Leading to Higher Unemployment. Economic Outlook for 1996 and 1997 Markus Marterbauer

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Bookmark: http://trove.nla.gov.au/version/152151
Physical Description
  • article
Language
  • English

Edition details

Title
  • Cyclical Weakening Leading to Higher Unemployment. Economic Outlook for 1996 and 1997
Author
  • Markus Marterbauer
Physical Description
  • article
Notes
  • The marked deterioration of the international scenario is the crucial element in the revision of the short-term outlook. Exports and domestic investment are clearly losing momentum. Austrian GDP is projected to rise by only ¾ percent in 1996 and by 1 percent in 1997. Slow growth will lead to a further decline in employment and an increase in unemployment to a new record high. The comprehensive fiscal consolidation program of the Federal Government should bring down the general government deficit to its target value.
  • RePEc:wfo:wquart:y:1996:i:2:p:59-64
  • The persistent weakness of the international business cycle calls for a downward revision of projections for GDP growth. Thus, the Austrian economy is now expected to expand by only ¾ percent in 1996 and 1 percent in 1997 causing a marked deterioration in the labor market. However, government deficits now appear under better control than during the past years; the new fiscal consolidation package should pave the way for Austria to participate in the European Monetary Union.
  • Cyclical Weakening Leading to Higher Unemployment. Economic Outlook for 1996 and 1997
  • RePEc:wfo:monber:y:1996:i:4:p:247-248
Language
  • English
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