Austria’s economy performed well over the past two decades. The country’s GDP per capita ranks among the highest in the OECD. Income inequalities are relatively low thanks to high redistribution through public transfers, which contributes to a relative poverty rate well below many other OECD countries. The domestic production of energy has a low carbon content largely due to significant hydropower resources. The economy is set to recover from a recession in 2023, but it will do so only slowly and remains fragile. The inflation shock in the wake of Russia’s war of aggression against Ukraine is taking time to subside. Public debt has increased substantially, while the public deficit remains close to 3%. Greater capacity of the economy to adapt to future shocks and address structural challenges is needed. Sound public finances and low government debt will provide fiscal space and strengthen a country’s resilience against short‑ and long‑term shocks. 

SPECIAL FEATURE: ACHIEVING SUCCESSFUL GREEN TRANSFORMATION IN AUSTRIA

Further reading

• Press release | Communiqué de presse  | Pressemitteilung
  
• Read the survey and access previous releases