(MENAFN) The National Bank of Austria's president, Ewald Nowotny, stated that the country's public debt is expected to grow to 75 percent of gross domestic product (GDP) next year, reported Xinhua News.
Nowotny insisted on the government to boost efforts to lower the debt's level, as it is considered very high.
The central bank's president forecasts Austria's inflation to decline below 2 percent in the coming 2 years.
Nowotny, who is also a member of the European Central Bank's (ECB) governing council, revealed modest confidence in the euro zone economy in 2013, given the measures taken in 2012 to rescue the stressed countries of the euro region.
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