English, Article edition: Export Recovery and Tax Reform Accelerating the Pace of Growth. Economic Outlook for 1999 and 2000 Markus Marterbauer

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Export Recovery and Tax Reform Accelerating the Pace of Growth. Economic Outlook for 1999 and 2000
Author
  • Markus Marterbauer
Physical Description
  • article
Notes
  • Driven by a recovery of exports and industrial output, economic growth has been gaining momentum since mid-1999. Rising private consumption continues to give firm support to the business cycle; next year, the tax reform and higher family benefits will provide additional stimulus to private household spending. Growth of real GDP is projected at 2.2 percent for the current year, accelerating to 2.8 percent in 2000. Price stability will be maintained, despite a substantial rise in oil prices. The strong advance of domestic demand is accompanied by sizeable employment gains which, together with a reinforcement of labour market policy measures, will bring down the rate of unemployment to 4.2 percent next year. General government net borrowing is set to increase to a ratio of 2½ percent of GDP.
  • RePEc:wfo:wquart:y:1999:i:4:p:223-230
  • WIFO is upholding its forecast for real GDP growth in 1999 at 2.2 percent, unchanged since last March. Next year, growth is projected to accelerate to a rate of 2¾ percent. Exports and industrial activity have turned around at the beginning of the year and are now heading upward, confirming earlier expectations. Continued strength of domestic demand and reinforced labour market policy action will make for a noticeable decline in unemployment. Inflation should remain subdued, despite rising oil prices. The tax reform and higher family benefits, while adding to private disposable income next year, will drive up the general government deficit to 2½ percent of GDP.
  • Export Recovery and Tax Reform Accelerating the Pace of Growth. Economic Outlook for 1999 and 2000
  • RePEc:wfo:monber:y:1999:i:10:p:679-680
Language
  • English
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