VIENNA (Reuters) -Austria's economy will grow slightly this year, avoiding what would be a third year of recession in a row, the Austrian National Bank said in its half-yearly economic forecast,
Austrian Central Bank Predicts Minimal Economic Growth in 2025
VIENNA (Reuters) -Austria's economy will grow slightly this year, avoiding what would be a third year of recession in a row, the Austrian National Bank said in its half-yearly economic forecast, predicting gross domestic product will rise by 0.2% this year.
Economic think-tanks including Wifo, which provides the government with forecasts the budget is based on, recently predicted the economy would contract again this year.
"We can announce today that we are expecting economic growth this year to be slightly positive," Governor Robert Holzmann said in a statement issued by the central bank on Friday.
"Economic development in Austria will remain fraught in 2025. At the start of the year, the economy hit its low point after a 2-1/2-year recession. However, the U.S. import tariffs and their effects will only start to be felt in the coming months," he added.
(Reporting by Francois MurphyEditing by Tomasz Janowski)
