Forecast of the Austrian Economy 2026–2030
Exports support moderate growth
Over the forecast period 2026 to 2030, IHS projects real GDP to grow by an average of 1 % per year. After significant losses in market shares in previous years, exports are expected to pick up again in line with Austria’s export markets. The construction sector should also overcome its prolonged downturn over the medium term and emerge from recession. Starting at 3 % this year, inflation in Austria is expected to decline markedly over the coming years, reaching the ECB’s 2% inflation target from 2028 onwards. Demographic trends will continue to constrain labor supply. Combined with continued, albeit moderate, employment growth, this is expected to reduce the unemployment rate from 7.5 % this year to 6.4 % by 2030. According to the IHS forecast, additional fiscal consolidation efforts will be required to bring the general government deficit ratio below the federal government’s target of 3 %.