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Fitch retains Austria's rating at AA+

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Staff Writer |
Austria economy
Ratings   The fiscal deficit in Austria was better than expected

Fitch Ratings affirmed sovereign ratings of Austria at AA+ with stable outlooks.

The rating agency said the economic growth is expected to remain on a steady upward trend and average 1.6 percent in 2016-17 after four years of sluggish activity.

The underlying growth is forecast to pick up in 2017 as investment continues its steady recovery and net exports make a positive contribution to growth.

The fiscal deficit was better than expected in 2015 at 1.1 percent of GDP compared with a 1.9 percent target, Fitch said.

Further, the agency estimates Austria's fiscal policy to remain prudent, producing small primary general government surpluses during 2016-2018.

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