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Austria's GDP growth to average 1.25 percent
(MENAFN) The Austrian Institute of Economic Research (WIFO) said the country's economic growth is set to remain stable between 2015 and 2019 with an average GDP growth of 1.25 percent, Xinhua reported.
The WIFO said the growth rate of the economy is expected to be similar to that of Eurozone's and will fall slightly below the average GDP growth rate of 1.3 percent registered between 2010 and 2014.
Meanwhile, the unemployment will also remain unstable, with projection that it will increase from its current forecast at 8.9 percent to 9.4 percent by the 2017 through 2018 period.
"The slow tempo of the Austrian recovery is mainly due to a weak export dynamic, attributable to the low growth of main economic partners," the research institute said in a press release.
The WIFO said the growth rate of the economy is expected to be similar to that of Eurozone's and will fall slightly below the average GDP growth rate of 1.3 percent registered between 2010 and 2014.
Meanwhile, the unemployment will also remain unstable, with projection that it will increase from its current forecast at 8.9 percent to 9.4 percent by the 2017 through 2018 period.
"The slow tempo of the Austrian recovery is mainly due to a weak export dynamic, attributable to the low growth of main economic partners," the research institute said in a press release.
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