The European Commission raises its expectations for Austria’s economic growth and rules out contraction
Vienna, November 18 / WAM / The European Commission expected Austria’s gross domestic product to grow by 0.3% during the current year, and expected the pace of growth to rise to 0.9% in 2026.
The Commission’s economic report for the fall showed a noticeable improvement in Austria’s economy compared to the spring forecast issued last May.
The European Commission’s expectations were more optimistic, compared to its previous economic report, which expected a contraction in Austria’s gross domestic product during the current year, which reflects an improvement in the performance of Austria’s economy, which the Commission expected to grow by 1.2% in 2027.
On the other hand, the general budget deficit numbers still raise concerns, in light of the Commission’s expectation that the budget deficit will rise to 4.4% of economic output for the current year, significantly exceeding the permissible limit of 3.0%, and the deficit is likely to decrease slightly to 4.1% next year, and return to rising by 4.3% in 2027.
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