natgillin/translations-raw huggingface dataset:
ÅðåéäÞ ôá ìÝôñá ôïõ 1997 Þôáí åí ìÝñåé  áõôïáíáóôñåöüìåíá , áíôéóôáèìéóôéêÜ ìÝôñá ðïõ Þäç Ý ÷ ïõí ðåñéëçöèåß óôïí ðñïûðïëïãéóìü ôïõ 1998 èá ÷ ñåéáóôåß íá Ý ÷ ïõí ôçí áðüäïóç ðïõ áíáìÝíåôáé ôï 1998 , ðñïêåéìÝíïõ ôá äçìïóéïíïìéêÜ áðïôåëÝóìáôá íá ðáñáìåßíïõí óôçí êáôåýèõíóç ðïõ Ý ÷ åé ÷ áñá ÷ èåß êáé , åðéðëÝïí , èá áðáéôçèïýí áíôéóôáèìéóôéêÜ ìÝôñá üôáí ôá  áõôïáíáóôñåöüìåíá  áðïôåëÝóìáôá èá åêôõëßóóïíôáé óôï ìÝëëïí .
As the measures in 1997 were partly self-reversing , compensating measures already included in the 1998 budget will need to yield their expected results in 1998 in order to keep fiscal balances on the planned path and , in addition , compensating measures will be required when the self-reversing effects unwind in the future .
¼ óïí áöïñÜ ôéò ôÜóåéò Üëëùí äçìïóéïíïìéêþí äåéêôþí , óôï ÄéÜãñáììá 4 öáßíåôáé üôé ï ëüãïò ôùí óõíïëéêþí äáðáíþí ôïõ åõñýôåñïõ êõâåñíçôéêïý ôïìÝá óçìåßùóå Ýíôïíç Üíïäï ìåôáîý 1990 êáé 1995 .
Moving on to examine trends in other fiscal indicators , it can be seen from Chart 4 that the general government total expenditure ratio rose sharply between 1990 and 1995 .
Ç Üíïäïò áõôÞ ïöåéëüôáí êõñßùò óôçí Ýíôïíç áýîçóç ôùí ôñå ÷ ïõóþí ìåôáâéâÜóåùí êáé ôçò äçìüóéáò êáôáíÜëùóçò ùò ðïóïóôïý ôïõ ÁÅÐ ( âë . Ðßíáêá 6 ) .
The increase was mainly caused by a surge in current transfers and public consumption as a percentage of GDP ( see Table 6 ) .
ÓõíïëéêÜ , ôï 1997 ï ëüãïò ôùí äáðáíþí Þôáí 3,0 åêáôïóôéáßåò ìïíÜäåò õøçëüôåñïò áðü ü , ôé ôï 1990 , ëüãù ôùí ìåãáëýôåñùí ôñå ÷ ïõóþí êåöáëáéáêþí ìåôáâéâÜóåùí êáé ôùí õøçëüôåñùí äçìüóéùí äáðáíþí .
On balance , the expenditure ratio in 1997 was 3.0 percentage points higher than in 1990 on account of higher current transfers and public consumption .
Ìå äåäïìÝíç áõôÞ ôçí åîÝëéîç , ðñïêåéìÝíïõ íá óõíå ÷ éóôåß ç ðñüóöáôç êáèïäéêÞ êßíçóç ôïõ ëüãïõ ôùí äáðáíþí êáé íá åðéôåõ ÷ èïýí åðßðåäá ðáñüìïéá Þ ÷ áìçëüôåñá áðü áõôÜ ðïõ ðáñáôçñÞèçêáí óôéò áñ ÷ Ýò ôçò äåêáåôßáò ôïõ 1990 , öáßíåôáé üôé áðáéôïýíôáé ðñüóèåôåò ðñïóáñìïãÝò , ôüóï ùò ðñïò ôéò ìåôáâéâÜóåéò ôïõ Äçìïóßïõ üóï êáé ùò ðñïò ôç äçìüóéá êáôáíÜëùóç .
Given this pattern , a continuation of the recent downward movement in the expenditure ratio and the achievement of levels similar to or below those of the early 1990s would appear to require additional adjustments in terms of both public transfers and consumption .
ÌåôÜ ôï 1994 ôá äçìüóéá Ýóïäá ùò ðïóïóôü ôïõ ÁÅÐ áõîÞèçêáí êáé ï ëüãïò ôùí åóüäùí ôï 1997 Þôáí êáôÜ 3,0 åêáôïóôéáßåò ìïíÜäåò õøçëüôåñïò áðü ü , ôé ôï 1990 .
After 1994 government revenue in relation to GDP increased and the revenue ratio in 1997 was 3.0 percentage points higher than in 1990 ;
Óýìöùíá ìå ôç ìåóïðñüèåóìç óôñáôçãéêÞ äçìïóéïíïìéêÞò ðïëéôéêÞò ôçò Áõóôñßáò üðùò ðáñïõóéÜæåôáé óôï Ðñüãñáììá Óýãêëéóçò 1997-2000 , ôï ïðïßï áíáèåùñÞèçêå ôïí Ïêôþâñéï 1997 , ïé ëüãïé ôïõ åëëåßìáôïò êáé ôïõ ÷ ñÝïõò ôïõ åõñýôåñïõ êõâåñíçôéêïý ôïìÝá áíáìÝíåôáé íá ìåéùèïýí ôï 1998 .
According to the Austrian medium-term fiscal policy strategy , as presented in the Convergence Programme for 1997-2000 updated in October 1997 , the general government financial deficit and debt ratios are expected to decline in 1998 .
Ï ðñïûðïëïãéóìüò ôïõ 1998 åßíáé åíáñìïíéóìÝíïò ìå ôï ðñüãñáììá êáé ïé ðñïâëÝøåéò ôçò ÅðéôñïðÞò åßíáé åëáöñþò åõíïúêüôåñåò .
The budget for 1998 is in line with the programme and Commission forecasts are slightly more favourable .
Ðñïò ôï ðáñüí , äåí õðÜñ ÷ ïõí åíäåßîåéò üôé ï ðñïûðïëïãéóìüò ôïõ 1998 ðåñéëáìâÜíåé óçìáíôéêÜ ìÝôñá ìå ðñïóùñéíÞ åðßäñáóç .
Currently , there is no evidence of significant measures with a temporary effect in the 1998 budget .
Óýìöùíá ìå ôï óôü ÷ ï , ôï 2000 ï ëüãïò ôïõ óõíïëéêïý åëëåßììáôïò èá äéáìïñöùèåß óå åðßðåäï ìüëéò ÷ áìçëüôåñï áðü ôï 2 % êáé ï ëüãïò ôïõ ÷ ñÝïõò óå åðßðåäï ìüëéò ÷ áìçëüôåñï áðü ôï 65 % ôïõ ÁÅÐ .
According to current plans , in the year 2000 the overall deficit ratio is planned to stand at just below 2 % and the debt ratio to be just below 65 % of GDP .
Óå óýãêñéóç ìå ôá äçìïóéïíïìéêÜ áðïôåëÝóìáôá ðïõ ðñïâëÝðïíôáé óôï Ðñüãñáììá Óýãêëéóçò 1999-2000 , áðáéôåßôáé ðåñáéôÝñù óçìáíôéêÞ åîõãßáíóç ðñïêåéìÝíïõ íá õðÜñîåé óõììüñöùóç ìå ôï ìåóïðñüèåóìï óôü ÷ ï ôïõ Óõìöþíïõ Óôáèåñüôçôáò êáé ÁíÜðôõîçò , ôï ïðïßï èá éó ÷ ýóåé áðü ôï 1999 .
Compared with fiscal balances projected in the Convergence Programme for 1999-2000 , further substantial consolidation is needed in order to comply with the medium-term objective of the Stability and Growth Pact , effective from 1999 onwards , of having a budgetary position that is close to balance or in surplus .
ÂÜóåé ôïõ óôü ÷ ïõ áõôïý , ï ðñïûðïëïãéóìüò ðñÝðåé íá åßíáé ó ÷ åäüí éóïóêåëéóìÝíïò Þ íá ðáñïõóéÜæåé ðëåüíáóìá . Ùò ðñïò ôï äéÜóôçìá ðïõ èá áðáéôçèåß ãéá íá ìåéùèåß ï ëüãïò ôïõ ÷ ñÝïõò óôçí ôéìÞ áíáöïñÜò 60 % ðñïêåéìÝíïõ ãéá ÷ þñåò ìå ëüãï ÷ ñÝïõò óáöþò Üíù ôïõ 60 % áëëÜ êÜôù ôïõ 80 % ôïõ ÁÅÐ , ôï ÅÍÉ ðáñïõóéÜæåé ôïõò õðïëïãéóìïýò ðïõ áíáöÝñïíôáé óôï 219
With regard to the future horizon for reducing the debt ratio to the 60 % reference value for countries with a debt ratio of clearly above 60 % but below 80 % of GDP , the EMI presents calculations , as detailed in Chart 5 .
Ìå âÜóç ôçí õðüèåóç üôé èá ðñïêýøåé ç óõíïëéêÞ äçìïóéïíïìéêÞ êáôÜóôáóç êáé ïé ëüãïé ôïõ ÷ ñÝïõò üðùò ðñïâëÝðåé ç ÅõñùðáúêÞ ÅðéôñïðÞ ãéá ôï 1998 , ç éóïóêÝëéóç ôïõ ðñïûðïëïãéóìïý áðü ôï 1999 êáé Ýðåéôá èá ìåéþóåé ôï ëüãï ôïõ ÷ ñÝïõò óôï 60 % ôïõ ÁÅÐ Þäç áðü ôï 2000 .
On the assumption that overall fiscal positions and debt ratios as projected by the European Commission for 1998 are achieved , realising a balanced budget from 1999 onwards would reduce the debt ratio to below 60 % of GDP as early as the year 2000 .
Áíôßèåôá , åÜí ôá óõíïëéêÜ êáé ôá ðñùôïãåíÞ áðïôåëÝóìáôá ôïõ 1998 (- 2,3% êáé 1,7% ôïõ ÁÅÐ ) äéáôçñçèïýí áìåôÜâëçôá ôá åðüìåíá Ýôç , èá Ý ÷ ïõí ùò óõíÝðåéá ôç âñáäýôåñç ìåßùóç ôïõ ÷ ñÝïõò êáé èá ïäçãÞóïõí óå ëüãï ÷ ñÝïõò êÜôù áðü 60 % ôï 2010 êáé ôï 2004 , áíôßóôïé ÷ á .
Instead , maintaining 1998 overall and primary balances of - 2.3% and 1.7% of GDP constant in subsequent years would imply a slower path of debt reduction and would generate a debt ratio of below 60 % in 2010 and 2004 respectively .
Ïé õðïëïãéóìïß áõôïß âáóßæïíôáé óôçí êáíïíéóôéêÞ õðüèåóç üôé ôï ïíïìáóôéêü åðéôüêéï èá åßíáé óôáèåñü óôï 6 % ( 4 % ìÝóï ðñáãìáôéêü êüóôïò åîõðçñÝôçóçò ôïõ äçìüóéïõ ÷ ñÝïõò óõí 2 % ðëçèùñéóìüò ) êáé óôçí ðáñáäï ÷ Þ üôé ï ñõèìüò áýîçóçò ôïõ ðñáãìáôéêïý ÁÅÐ èá åßíáé óôáèåñüò óôï 2,5% , üðùò åêôéìÜôáé áðü ôçí ÅðéôñïðÞ ó ÷ åôéêÜ ìå ôçí áýîçóç ôçò ôÜóçò ôïõ ðñáãìáôéêïý ÁÅÐ ôï 1998 .
Such calculations are based on the normative assumption of a constant nominal rate of interest of 6 % ( average real cost of public debt outstanding of 4 % and 2 % inflation ) and the assumption of a constant real GDP growth rate of 2.5% , as estimated by the Commission for real trend GDP growth in 1998 .
Ðáñüëï ðïõ ïé õðïëïãéóìïß áõôïß åßíáé êáèáñÜ åíäåéêôéêïß êáé óå êáìßá ðåñßðôùóç äåí ìðïñïýí íá èåùñçèïýí ðñïâëÝøåéò , äåß ÷ íïõí óáöþò ôçí áíÜãêç íá õðÜñîåé ðåñáéôÝñù óçìáíôéêÞ ðñüïäïò áðü ðëåõñÜò åîõãßáíóçò ðñïêåéìÝíïõ ôï ÷ ñÝïò ôçò Áõóôñßáò íá ìåéùèåß óôï 60 % ôïõ ÁÅÐ Þ ÷ áìçëüôåñá ìÝóá óå åýëïãï ÷ ñïíéêü äéÜóôçìá .
While such calculations are purely illustrative and can by no means be regarded as forecasts , they provide an illustration of the need for further substantial progress in consolidation in order to bring the debt ratio in Austria down to 60 % of GDP or below within an appropriate period of time .
¼ ðùò ôïíßæåôáé óôïí Ðßíáêá 7 , áðü ôï 2010 ðåñßðïõ êáé Ýðåéôá áíáìÝíåôáé óçìáíôéêÞ ãÞñáíóç ôïõ ðëçèõóìïý êáé , óôï ðëáßóéï åíüò äéáíåìçôéêïý óõíôáîéïäïôéêïý óõóôÞìáôïò , ïé äáðÜíåò ôïõ Äçìïóßïõ ãéá óõíôÜîåéò ðñïâëÝðåôáé íá áõîçèïýí ùò 220 ðïóïóôü ôïõ ÁÅÐ , éäéáßôåñá åÜí ðáñáìåßíåé áìåôÜâëçôç ç ðïëéôéêÞ ôùí êïéíùíéêïáóöáëéóôéêþí ðáñï ÷ þí .
As is highlighted in Table 7 , from around 2010 onwards a marked ageing of the population is expected and , in the context of an unfunded pension system , public pension expenditure is forecast to increase in terms of GDP , particularly if policies regarding benefits continue unchanged .
Ç åîÝëéîç ôçò óõíáëëáãìáôéêÞò éóïôéìßáò Ôï áõóôñéáêü óåëßíé óõììåôÝ ÷ åé óôï ÌÓÉ áðü ôéò 9 Éáíïõáñßïõ 1995 , äçë . ãéá äéÜóôçìá ìåãáëýôåñï ôùí äýï åôþí ðñéí áðü ôçí åîÝôáóç ( âë .
Exchange rate developments The Austrian schilling has been participating in the ERM since 9 January 1995 , i.e. for longer than two years prior to the examination ( see Table 8a ) .
Ðßíáêá 8á ) . ¼ ðùò ðñïáíáöÝñèçêå , ç íïìéóìáôéêÞ ðïëéôéêÞ ôçò Áõóôñßáò óõíå ÷ ßæåé íá êáèïñßæåôáé áðü ôï óôü ÷ ï ôçò óôåíÞò óýíäåóçò ôïõ óåëéíßïõ ìå ôï ãåñìáíéêü ìÜñêï , áðü ôïí ÉáíïõÜñéï 1995 óôï ðëáßóéï ôïõ ÌÓÉ .
As mentioned above , Austrian monetary policy has continued to be determined by the 201 objective of closely linking the Austrian schilling to the Deutsche Mark , since January 1995 within the framework of the ERM .
Åéäéêüôåñá óôçí ðåñßïäï áíáöïñÜò ( ÌÜñôéïò 1996-ÖåâñïõÜñéïò 1998 ) , ç éóïôéìßá ôïõ áõóôñéáêïý íïìßóìáôïò êáôÜ êáíüíá êéíÞèçêå êïíôÜ óôéò êåíôñéêÝò ôïõ éóïôéìßåò Ýíáíôé ôùí Üëëùí íïìéóìÜôùí ôïõ ÌÓÉ êáé ðïëý êïíôÜ óôéò éóïôéìßåò ôïõ Ýíáíôé ôïõ âåëãéêïý öñÜãêïõ , ôïõ ãåñìáíéêïý ìÜñêïõ êáé ôïõ ïëëáíäéêïý öéïñéíßïõ ( âë . ÄéÜãñáììá 6 êáé Ðßíáêá 9á ) .
Focusing on the reference period from March 1996 to February 1998 , the currency has normally traded close to its central rates against other ERM currencies and very close to those vis - - vis the Belgian franc , the Deutsche Mark and the Dutch guilder ( see Chart 6 and Table 8a ) .
Ïé ìÝãéóôåò áðïêëßóåéò ðñïò ôá Üíù êáé ðñïò ôá êÜôù áðü ôéò êåíôñéêÝò éóïôéìßåò , ìå âÜóç ôïõò êéíçôïýò ìÝóïõò 10 åñãÜóéìùí çìåñþí , Þôáí 2,2% êáé - 2,9% áíôßóôïé ÷ á , ìå åîáßñåóç ôçí áõôüíïìç áíïäéêÞ ôÜóç ôçò éñëáíäéêÞò ëßñáò ( âë . Ðßíáêá 8á ) .
The maximum upward and downward deviations from central rates , on the basis of 10 business day moving averages , were 2.2% and - 2.9% respectively , abstracting from the autonomous upward trend of the Irish pound ( see Table 8a ) .
Ôá åðåéóüäéá ôùí áðïêëßóåùí áõôþí Þôáí ðñïóùñéíÜ , ï âáèìüò ìåôáâëçôüôçôáò ôçò óõíáëëáãìáôéêÞò éóïôéìßáò ôïõ óåëéíßïõ Ýíáíôé ôïõ ãåñìáíéêïý ìÜñêïõ õðÞñîå óõíå ÷ þò ðïëý ÷ áìçëüò ( âë . Ðßíáêá 8â ) êáé ïé äéáöïñÝò ôùí âñá ÷ õðñüèåóìùí åðéôïêßùí Ýíáíôé ôùí ÷ ùñþí ôçò ÅÅ ìå ôá ÷ áìçëüôåñá âñá ÷ õðñüèåóìá åðéôüêéá Þôáí áóÞìáíôåò .
The episodes in which such deviations occurred were temporary , the degree of exchange rate volatility vis - - vis the Deutsche Mark was continuously very low ( see Table 8b ) and short-term interest rate differentials against those EU countries with the lowest shortterm interest rates were insignificant .
Áðü ðéï ìáêñïðñüèåóìç óêïðéÜ , äåßêôåò ôçò ðñáãìáôéêÞò óôáèìéóìÝíçò óõíáëëáãìáôéêÞò éóïôéìßáò ôïõ áõóôñéáêïý óåëéíßïõ Ýíáíôé ôùí íïìéóìÜôùí ôùí Êñáôþí-Ìåëþí ðïõ óõììåôÝ ÷ ïõí óôï ÌÓÉ , üðùò áðåéêïíßæïíôáé óôïí Ðßíáêá 9 , õðïäçëþíïõí üôé ôá óçìåñéíÜ åðßðåäá åßíáé ðáñáðëÞóéá ìå ôéò ôéìÝò ðïõ Ý ÷ ïõí êáôÜ êáéñïýò óçìåéùèåß .
In a longer-term context , measures of the real effective exchange rate of the Austrian schilling vis - - vis the currencies of ERM participating Member States depicted in Table 9 suggest that current levels are close to historical values .
¼ óïí áöïñÜ Üëëåò åîùôåñéêÝò åîåëßîåéò , ôï éóïæýãéï ôñå ÷ ïõóþí óõíáëëáãþí ðáñïõóßáóå Ýëëåéììá óôç äéÜñêåéá ôçò äåêáåôßáò ôïõ 1990 , ðñÜãìá ðïõ óõíÝâáëå óôçí áýîçóç ôçò áñíçôéêÞò êáèáñÞò åîùôåñéêÞò èÝóçò ( âë .
With regard to other external developments , the current account turned negative during the 1990s , which has contributed to an increasing net external liability position ( see Table 10 ) .
Ðßíáêá 10 ) . Õðåíèõìßæåôáé åðßóçò üôé ç Áõóôñßá äéáèÝôåé ìéá ìéêñÞ áíïéêôÞ ïéêïíïìßá êáé , óýìöùíá ìå ôá ðéï ðñüóöáôá äéáèÝóéìá óôïé ÷ åßá , ï ëüãïò ôïõ åîùôåñéêïý åìðïñßïõ ôçò ðñïò ôï ÁÅÐ åßíáé 49 % ãéá ôéò åîáãùãÝò êáé 48 % ãéá ôéò åéóáãùãÝò , åíþ ôï ðïóïóôü åíäïêïéíïôéêïý åìðïñßïõ åßíáé 60 % ãéá ôéò åîáãùãÝò êáé 75 % ãéá ôéò åéóáãùãÝò .
It may also be recalled that Austria is a small open economy with , according to the most recent data available , a ratio of foreign trade to GDP of 49 % for exports and 48 % for imports , and a share of intra-EU trade of 60 % for exports and 75 % for imports . Long-term interest rate developments Over the reference period from February 1997 to January 1998 long-term interest rates in Austria were 5.6% on average , and thus stood well below the reference value for the interest rate criterion of 7.8% set on the basis of the three best-performing Member States in terms of price stability .
ÄéÜãñáììá 7â ) .
Long-term interest rates have been on a broadly declining trend since the early 1990s ( see Chart 7a ) .
Ïé êõñéüôåñïé ðáñÜãïíôåò ðïõ óõíåôÝëåóáí óôçí åîÝëéîç áõôÞ õðÞñîáí ï óõãêñéôéêÜ ÷ áìçëüò ñõèìüò ðëçèùñéóìïý , ç ó ÷ åôéêÞ óôáèåñüôçôá ôçò óõíáëëáãìáôéêÞò éóïôéìßáò ôïõ áõóôñéáêïý íïìßóìáôïò , ç Üóêçóç íïìéóìáôéêÞò ðïëéôéêÞò ìå êáôåýèõíóç ðáñüìïéá ìå áõôÞí ôùí ðéï ðÜíù ÷ ùñþí êáé , ðéï ðñüóöáôá , ç óôáäéáêÞ âåëôßùóç ôùí äçìüóéùí ïéêïíïìéêþí ôçò ÷ þñáò . Óýíïøç óõìðåñáóìÜôùí ÊáôÜ ôçí ðåñßïäï áíáöïñÜò , ç Áõóôñßá ðÝôõ ÷ å ðëçèùñéóìü ( ÅíÄÔÊ ) 1,1% , äçë .
At the same time , a close convergence of Austria s long-term interest rates with those prevailing in the EU countries with the lowest bond yields has been observed since the early 1990s , with the differential typically being around zero ( see Chart 7b ) . The main factors underlying this trend were the comparatively low rate of inflation , the relative stability of the Austrian schilling s exchange rate , the pursuit of a similar monetary policy stance to that followed in the above-mentioned countries and , most recently , the gradual improvement in the state of the country s public finances .
Ôï êüóôïò åñãáóßáò áíÜ ìïíÜäá ðñïúüíôïò Þôáí ðåñßðïõ óôáèåñü êáôÜ ôç äéÜñêåéá ôçò ðåñéüäïõ áíáöïñÜò , áöïý ìåéþèçêå ôï 1996 , åíþ ïé ÷ áìçëïß ñõèìïß ðëçèùñéóìïý ðñïêýðôïõí åðßóçò êáé áðü Üëëïõò óõíáöåßò äåßêôåò ôéìþí .
Unit labour costs were broadly stable over the reference period ( having decreased in 1996 ) and low rates of inflation were also apparent in terms of other relevant price indices .
Ôá ìáêñïðñüèåóìá åðéôüêéá Þôáí 5,6% , äçë . áñêåôÜ ÷ áìçëüôåñá áðü ôçí áíôßóôïé ÷ ç ôéìÞ áíáöïñÜò .
The level of long-term interest rates was 5.6% , i.e. well below the respective reference value .
Ôï 1997 ç Áõóôñßá ðÝôõ ÷ å ëüãï äçìïóéïíïìéêïý åëëåßììáôïò 2,5% , äçë . êÜôù áðü ôçí ôéìÞ áíáöïñÜò , êáé õðÜñ ÷ åé ðñïïðôéêÞ ìåßùóçò óå 2,3% ôï 1998 .
In 1997 Austria achieved a fiscal deficit ratio of 2.5% , i.e. below the reference value , and the outlook is for a decrease to 2.3% in 1998 .
Ï ëüãïò ôïõ ÷ ñÝïõò ðñïò ôï ÁÅÐ Þôáí Üíù ôçò ôéìÞò áíáöïñÜò 60 %. ÌåôÜ áðü êïñýöùóç ôï 1996 , ìåéþèçêå êáôÜ 3,4 åêáôïóôéáßåò ìïíÜäåò êáé Ýöèáóå óôï 66,1% ôï 1997 .
The debt-to-GDP ratio is above the 60 % reference value .
Ç åîÝëéîç ôùí ìáêñïðñüèåóìùí åðéôïêßùí Óôç äéÜñêåéá ôçò ðåñéüäïõ áíáöïñÜò ( ÖåâñïõÜñéïò 1997-ÉáíïõÜñéïò 1998 ) ôá ìáêñïðñüèåóìá åðéôüêéá óôçí Áõóôñßá Þôáí 5,6% óå ìÝóï üñï , áñêåôÜ êÜôù áðü ôçí ôéìÞ áíáöïñÜò 7,8% ôïõ êñéôçñßïõ ôùí åðéôïêßùí , ç ïðïßá ïñßæåôáé âÜóåé ôùí ôñéþí Êñáôþí-Ìåëþí ìå ôéò êáëýôåñåò åðéäüóåéò áðü Üðïøç óôáèåñüôçôáò ôéìþí . Áõôü óõíÝâç êáé ôï 1997 ( óýíïëï Ýôïõò ) , êáèþò êáé ôï 1996 ( âë .
After having reached a peak in 1996 , it declined by 3.4 percentage points to stand at 66.1% in 1997 . Regarding the sustainability of fiscal developments , the outlook is for a decrease in the debt ratio to 64.7% of GDP in 1998 .
äéáôçñçóéìüôçôá ôùí äçìïóéïíïìéêþí åîåëßîåùí , õðÜñ ÷ ïõí ðñïïðôéêÝò ãéá ìåßùóç ôïõ ëüãïõ ôïõ ÷ ñÝïõò óå 64,7% ôïõ ÁÅÐ ôï 1998 . Óå Ýíáí åõñýôåñï ÷ ñïíéêü ïñßæïíôá , ç äéáôÞñçóç ôïõ ëüãïõ ôïõ åëëåßììáôïò óôá óçìåñéíÜ åðßðåäá äåí áñêåß ãéá íá ìåéùèåß ï ëüãïò ôïõ ÷ ñÝïõò êÜôù áðü 60 % ôïõ ÁÅÐ ìÝóá óå åýëïãï ÷ ñïíéêü äéÜóôçìá .
Looking further ahead , keeping the deficit ratio at current levels would not be sufficient to bring the debt ratio down to 60 % of GDP within an appropriate period of time , thus pointing to the need for further substantial progress in consolidation .
óçìåñéíüò ëüãïò ôïõ ÷ ñÝïõò åßíáé Üíù ôïõ 65 % ôïõ ÁÅÐ , åÜí åðéôåõ ÷ èåß ç äçìïóéïíïìéêÞ êáôÜóôáóç ðïõ ðñïâëÝðåôáé ãéá ôï 1998 êáé ðñáãìáôïðïéåßôáé éóïóêåëéóìÝíïò ðñïûðïëïãéóìüò êáôüðéí , ï ëüãïò ôïõ ÷ ñÝïõò èá ìåéùèåß êÜôù áðü 60 % Þäç áðü ôï 2000 .
Given the current debt ratio of above 65 % of GDP , achieving the fiscal position forecast for 1998 and realising a balanced budget thereafter would reduce the debt ratio to below 60 % as early as the year 2000 .
Ùò ðñïò ôïõò Üëëïõò ðáñÜãïíôåò , ôï 1996 ï ëüãïò ôïõ åëëåßììáôïò õðåñÝâç ôï ëüãï äçìüóéùí åðåäýóåùí / ÁÅÐ , åíþ ôï 1997 ç äéáöïñÜ Þôáí ó ÷ åäüí ìçäåíéêÞ .
With regard to other factors , in 1996 the deficit ratio exceeded the ratio of public investment to GDP , while in 1997 the difference was close to zero .
ÊáôÜëïãïò ðéíÜêùí êáé äéáãñáììÜôùí * ÁÕÓÔÑÉÁ I Ç åîÝëéîç ôùí ôéìþí Ðßíáêáò 1 Áõóôñßá : Ðëçèùñéóìüò âÜóåé ôïõ ÅíÄÔÊ ÄéÜãñáììá 1 Áõóôñßá : Ç åîÝëéîç ôùí ôéìþí Ðßíáêáò 2 Áõóôñßá : Äåßêôåò ðëçèùñéóìïý êáé óõíáöåßò äåßêôåò Ðßíáêáò 3 Áõóôñßá : Ðñüóöáôåò ôÜóåéò ðëçèùñéóìïý êáé ðñïâëÝøåéò ( á ) Ðñüóöáôåò ôÜóåéò ôïõ ðëçèùñéóìïý ôéìþí êáôáíáëùôÞ ( â ) ÐñïâëÝøåéò ãéá ôïí ðëçèùñéóìü
List of Tables and Charts * AUSTRIA I Price developments Table 1 Chart 1 Table 2 Table 3 Austria : HICP inflation Austria : Price developments Austria : Measures of inflation and related indicators Austria : Recent inflation trends and forecasts ( a ) Recent trends in consumer price inflation ( b ) Inflation forecasts II
ÄçìïóéïíïìéêÝò åîåëßîåéò Ðßíáêáò 4 Áõóôñßá : ¸ ëëåéììá êáé ÷ ñÝïò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ÄéÜãñáììá 2 Áõóôñßá : ÁêáèÜñéóôï ÷ ñÝïò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ( á ) Åðßðåäá ( â ) ÅôÞóéåò ìåôáâïëÝò êáé ðñïóäéïñéóôéêïß ðáñÜãïíôåò Ðßíáêáò 5 Áõóôñßá : ÄéÜñèñùóç áêáèÜñéóôïõ ÷ ñÝïõò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ÄéÜãñáììá 3 Áõóôñßá : Ðëåüíáóìá (+) / Ýëëåéììá (-) åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ( á ) Åðßðåäá ( â ) ÅôÞóéåò ìåôáâïëÝò êáé ðñïóäéïñéóôéêïß ðáñÜãïíôåò ÄéÜãñáììá 4 Áõóôñßá : ÄáðÜíåò êáé Ýóïäá åõñýôåñïõ êõâåñíçôéêïý ôïìÝá Ðßíáêáò 6 Áõóôñßá : ¸ óïäá êáé äáðÜíåò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ÄéÜãñáììá 5 Áõóôñßá : ÄõíçôéêÞ åîÝëéîç ôïõ ÷ ñÝïõò ìå åíáëëáêôéêÝò ðáñáäï ÷ Ýò ãéá ôá äçìïóéïíïìéêÜ áðïôåëÝóìáôá Ðßíáêáò 7 Áõóôñßá : Äåßêôçò åîÜñôçóçò çëéêéùìÝíùí : ðñïâëÝøåéò
Fiscal developments Table 4 Austria : General government financial position Chart 2 Austria : General government gross debt ( a ) Levels ( b ) Annual changes and underlying factors Table 5 Austria : General government gross debt - structural features Chart 3 Austria : General government surplus (+) / deficit (-) ( a ) Levels ( b ) Annual changes and underlying factors Chart 4 Austria : General government expenditure and receipts Table 6 Austria : General government budgetary position Chart 5 Austria : Potential future debt ratios under alternative assumptions for fiscal balance ratios Table 7 Austria : Projections of elderly dependency ratio
III Ç åîÝëéîç ôçò óõíáëëáãìáôéêÞò éóïôéìßáò Ðßíáêáò 8 ( á ) Áõóôñßá : Óôáèåñüôçôá óõíáëëáãìáôéêÞò éóïôéìßáò ( â ) Âáóéêïß äåßêôåò ðéÝóåùí óôï óåëßíé Áõóôñßáò ÄéÜãñáììá 6 Óåëßíé Áõóôñßáò : Áðïêëßóåéò áðü äéìåñåßò êåíôñéêÝò éóïôéìßåò ÌÓÉ Ðßíáêáò 9 Óåëßíé Áõóôñßáò : Äåßêôåò ðñáãìáôéêÞò óôáèìéóìÝíçò óõíáëëáãìáôéêÞò éóïôéìßáò Ýíáíôé ôùí Êñáôþí-Ìåëþí ôïõ ÌÓÉ Ðßíáêáò 10 Áõóôñßá : ÅîùôåñéêÝò åîåëßîåéò
III Exchange rate developments Table 8 ( a ) Austria : Exchange rate stability ( b ) Key indicators of exchange rate pressure for the Austrian schilling Chart 6 Austrian schilling : Deviations from ERM bilateral central rates Table 9 Austrian schilling : Measures of the real effective exchange rate vis - - vis ERM Member States Table 10 Austria : External developments
ÉV Ç åîÝëéîç ôùí ìáêñïðñüèåóìùí åðéôïêßùí Ðßíáêáò 11 Áõóôñßá : Ìáêñïðñüèåóìá åðéôüêéá ÄéÜãñáììá 7 ( á ) Áõóôñßá : Ìáêñïðñüèåóìá åðéôüêéá ( â ) Áõóôñßá : ÄéáöïñÝò ìáêñïðñüèåóìùí åðéôïêßùí êáé ðëçèùñéóìïý ÄÔÊ Ýíáíôé ôùí ÷ ùñþí ôçò ÅÅ ìå ôá ÷ áìçëüôåñá ìáêñïðñüèåóìá åðéôüêéá
IV Long-term interest rate developments Table 11 Austria : Long-term interest rates Chart 7 ( a ) Austria : Long-term interest rate ( b ) Austria : Long-term interest rate and CPI inflation differentials against EU countries with lowest long-term interest rates
Áõóôñßá : Ðëçèùñéóìüò âÜóåé ôïõ ÅíÄÔÊ ( åôÞóéåò åêáôïóôéáßåò ìåôáâïëÝò ) 1996 Ðëçèùñéóìüò âÜóåé ôïõ ÅíÄÔÊ ÔéìÞ áíáöïñÜò ÐçãÞ : ÅõñùðáúêÞ ÅðéôñïðÞ .
Austria : HICP inflation ( annual percentage changes ) 1996 HICP inflation Reference value Source : European Commission .
Éáí . 98 1,1 -
Jan 98 Feb 97 - Jan 98 1.1 1.1 2.7
ÄéÜãñáììá 1 Áõóôñßá : Ç åîÝëéîç ôùí ôéìþí ( åôÞóéåò åêáôïóôéáßåò ìåôáâïëÝò ) ÄÔÊ Êüóôïò åñã .
Austria : Price developments ( annual percentage changes ) CPI 5 4 3 2 1 0 - 1 1990 Source : National data .
Áõóôñßá : Äåßêôåò ðëçèùñéóìïý êáé óõíáöåßò äåßêôåò ( åôÞóéåò åêáôïóôéáßåò ìåôáâïëÝò , åêôüò åÜí áíáöÝñåôáé äéáöïñåôéêÜ ) 1990 Äåßêôåò ðëçèùñéóìïý Äåßêôçò Ôéìþí ÊáôáíáëùôÞ ( ÄÔÊ ) 3,3 ÄÔÊ ðëçí ìåôáâïëþí êáèáñþí Ýììåóùí öüñùí ( â ) 3,3 ÁðïðëçèùñéóôÞò éäéùôéêÞò êáôáíÜëùóçò 3,5 ÁðïðëçèùñéóôÞò ÁÅÐ 3,4 ÔéìÝò ðáñáãùãïý ( ã ) 2,9 Óõíáöåßò äåßêôåò Áýîçóç ðñáãìáôéêïý ÁÅÐ 4,6 Ðáñáãùãéêü êåíü ( åêáôïóôéáßåò ìïíÜäåò ) 2,0 Ðïóïóôü áíåñãßáò (%) Êüóôïò åñãáóßáò áíÜ ìïíÜäá ðñïúüíôïò , óýíïëï ïéêïíïìßáò 2,8 Áðïæçìßùóç áíÜ åñãáæüìåíï , óýíïëï ïéêïíïìßáò 5,5 Ðáñáãùãéêüôçôá åñãáóßáò , óýíïëï ïéêïíïìßáò 2,6 ÁðïðëçèùñéóôÞò ôéìþí åéóáãïìÝíùí 0,5 Áíáôßìçóç íïìßóìáôïò ( ä ) 3,4 ÐñïóöïñÜ ÷ ñÞìáôïò ìå åõñåßá Ýííïéá ( Åíáñì . Ì3 )( å ) 14,3 ÔéìÝò ìåôï ÷ þí 64,7 ÔéìÝò êáôïéêéþí .
Austria : Measures of inflation and related indicators ( annual percentage changes unless otherwise stated ) 1990 Measures of inflation Consumer price index ( CPI ) 3.3 CPI excluding changes in net indirect taxes ( b ) 3.3 Private consumption deflator 3.5 GDP deflator 3.4 Producer prices ( c ) 2.9 Related indicators Real GDP growth 4.6 Output gap ( p.pt s ) 2.0 Unemployment rate (%) Unit labour costs , whole economy 2.8 Compensation per employee , whole economy 5.5 Labour productivity , whole economy 2.6 Import price deflator 0.5 Exchange rate appreciation ( d ) 3.4 Broad monetary aggregate ( M3H ) ( e ) 14.3 Stock prices 64.7 House prices .
1996 1997 ( á ) 1,9 1,7 2,5 2,1 0,0 1,6 - 1,1 4,4 - 0,5 1,6 2,1 1,2 - 1,6 5,7 4,8 - 1,4 1,3 1,2 1,8 1,4 0,4 2,5 - 1,0 4,4 0,0 1,5 1,6 0,7 - 2,7 2,7 13,8 - 1,7
1996 1997 ( a ) 1.9 1.7 2.5 2.1 0.0 1.6 - 1.1 4.4 - 0.5 1.6 2.1 1.2 - 1.6 5.7 4.8 - 1.4 1.3 1.2 1.8 1.4 0.4 2.5 - 1.0 4.4 0.0 1.5 1.6 0.7 - 2.7 2.7 13.8 - 1.7
97 Éáí . 98 Åèíéêüò äåßêôçò ôéìþí êáôáíáëùôÞ ( ÄÔÊ ) ÅôÞóéá åêáôïóôéáßá ìåôáâïëÞ ÌåôáâïëÞ ìÝóïõ üñïõ 3 ôåëåõôáßùí ìçíþí Ýíáíôé ôùí 3 ðñïçãïýìåíùí , åðï ÷ éêÜ äéïñèùìÝíç , áíçãìÝíç óå åôÞóéï ñõèìü ÌåôáâïëÞ ìÝóïõ üñïõ 6 ôåëåõôáßùí ìçíþí Ýíáíôé ôùí 6 ðñïçãïýìåíùí , åðï ÷ éêÜ äéïñèùìÝíç , áíçãìÝíç óå åôÞóéï ñõèìü ÐçãÞ : ÅèíéêÜ ìç åíáñìïíéóìÝíá óôïé ÷ åßá .
( a ) Recent trends in consumer price inflation Sep 97 National consumer price index ( CPI ) Annual percentage change Change in the average of latest 3 months from previous 3 months , annualised rate , seasonally adjusted Change in the average of latest 6 months from previous 6 months , annualised rate , seasonally adjusted Source : National non-harmonised data .
1,2 4,5 1,2 ( â ) ÐñïâëÝøåéò ãéá ôïí ðëçèùñéóìü 1998 ÅõñùðáúêÞ ÅðéôñïðÞ ( Üíïéîç 1998 ) , ÅíÄÔÊ ÏÏÓÁ ( ÄåêÝìâñéïò 1997 ) , áðïðëçèùñéóôÞò éäéùôéêÞò êáôáíÜëùóçò ÄÍÔ ( Ïêôþâñéïò 1997 ) , ÄÔÊ ÐçãÞ : ÅõñùðáúêÞ ÅðéôñïðÞ ( ðñïâëÝøåéò Üíïéîçò 1998 ) , ÏÏÓÁ êáé ÄÍÔ .
( b ) Inflation forecasts European Commission ( spring 1998 ) , HICP OECD ( December 1997 ) , private consumption deflator IMF ( October 1997 ) , CPI Source : European Commission ( spring 1998 forecasts ) , OECD and IMF . 1998 1.3 1.5 1.6
225 ÉÉ
Fiscal developments
ÄçìïóéïíïìéêÝò åîåëßîåéò Ðßíáêáò 4
Table 4 Austria : General government financial position ( as a percentage of GDP )