Double recession

Who will get Austria back on track?

The situation is dramatic: not since the middle of the last century has Austria's economic output fallen for two years in a row. But experts at the Oesterreichische Nationalbank (OeNB) are now expecting this to happen. The question now is: who will get Austria back on track?

According to the forecast, we will remain in recession in 2024. The economy will shrink by 0.7 percent in real terms - the same as in the previous year. Before the correction, the OeNB experts had expected growth of 0.3% for the current year. From the 2nd quarter of 2022 to the 2nd quarter of 2024, our economic output shrank by a total of 2.1%, according to the economists.