Austria's economy will broadly stagnate this year, before recovering to 1.5% growth on average over 2024-2026. During this period, authorities will execute an extensive tax and energy relief plan with measures totaling €31.2 billion until 2026, or roughly 6.6% of 2023 GDP, to cushion the related adverse economic impact. This will, in our view, delay budgetary consolidation through 2026, with the general government deficit declining to 2.0% of GDP in 2026 from an estimated deficit of 2.9% in 2023. We affirmed our 'AA+/A-1+' ratings on Austria. The outlook remains stable. On Aug. 25, 2023, S&P Global Ratings affirmed its 'AA+/A-1+' long- and short-term foreign and local currency sovereign credit ratings on Austria. The outlook remains stable. The stable outlook reflects
