Forecast of the Austrian Economy 2021–2022 - Strong economic upswing in Austria

Forecast of the Austrian Economy 2021–2022 Strong economic upswing in Austria With the successful fight against the coronavirus pandemic, the Austrian economy gained strong momentum in spring. [...] The Institute has therefore raised its forecast for economic growth in the current year to 3.4 %. [...] With the economic recovery, the unemployment rate is expected to fall to 8.4 % this year and 7.9 % next year, respectively, thus remaining above the pre-crisis level. [...] With the improved economic situation and the discontinuation of the COVID-19 support measures, the budget deficit should decline significantly, especially in the coming year. [...] Economic policy strategies to strengthen the competitiveness of the Austrian economy and to achieve the climate targets should be developed and implemented.