Austrian economy expected to grow

By IANS,

Vienna: The Austrian economy is estimated to grow 1 percent in the year 2013, the state-supported Austrian Institute of Economic Research (WIFO) said.

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This is the second time that WIFO reduced its forecast of the country’s economic growth, reported Xinhua.

This year, Austria’s economy is predicted to expand 0.6 percent, as estimated earlier, after growing 2.7 percent in 2011.

The agency Friday stressed the outlook for 2013 remains highly uncertain due to the world economic downturn and increasing downside risks from the external environment.