Austrian economy to grow 3.1 pct in 2018: central bank governor

Source: Xinhua| 2018-09-01 01:58:05|Editor: yan
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VIENNA, Aug. 31 (Xinhua) -- The Austrian economy is expected to grow 3.1 percent in 2018 in line with forecasts earlier in the year, National Bank governor Ewald Nowotny confirmed on Friday, according to a Wiener Zeitung report.

Speaking at Alpbach in western Austria, Nowotny said the forecast places Austrian economic growth at one percentage point higher than the Eurozone average, as well as neighbour and major trading partner Germany.

"This is a very remarkable development," he said.

The central bank governor said both strong exports and buoyant domestic demand are proving the driving factors behind the positive result.

He said the stagnant Italian economy is some cause for concern, with the lowest forecast growth rates in the eurozone this year. This will prove a challenge for the currency union, though he does not believe it will pose a particular risk.

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