austria

The Austrian economy shows GDP growth of 4.7% in 2022, with a slowdown to 1.0% in 2023 and 1.9% in 2024 forecasted for the following years.

In 2022, disposable income decreased, consequently reducing private consumption - an indicator that should recover as the growth in salaries approaches the increase in prices. Lower external demand and deteriorating business confidence will weigh on private investment, partly justifying the practically zero GDP growth forecast for 2023.

The inflation rate was 2.8% in 2021 and it is estimated that in 2022 it will have reached 7.7%, settling at 5.1% in 2023. In fiscal terms, more restrictive policies and new measures are planned to curb price inflation, particularly in the energy sector.