At 400 million euros per week, these were below those of the December lockdown 2020, where each closing week still resulted in costs of over 500 million euros, according to Wifo calculations on behalf of the Ministry of Finance. The first lockdown caused 1.5 billion euros per week. “Every lockdown puts a strain on the companies affected and causes massive economic damage, which we cushion as well as possible with targeted assistance. However, it is positive that the costs of the last lockdown were below those of the previous year. This shows us that our economy is more resilient “said Finance Minister Magnus Brunner (ÖVP). In addition to the eco-social tax reform, which was decided in January, various measures are to be bundled in an economic stimulus package in order to secure jobs, location and prosperity, said the minister.
The economic research institute (Wifo) expects GDP growth of 4.1 percent for 2021, plus 5.2 percent in 2022 and 2.5 percent in 2023. According to the economic researchers, inflation will rise to 3.3 percent in 2022 and fall again to 2.2 percent in 2023. The peak of inflation is expected as early as January 2022.
Source: Nachrichten
