Austria

Austria faced a significant challenge in 2023, experiencing high inflation (7.814%) coupled with negative GDP growth (-0.786%). This combination suggests a period of stagflation, where rising prices erode purchasing power while the economy contracts, posing a major policy challenge.

Despite the negative GDP growth in 2023, Austria maintains an extremely high standard of living, evidenced by a GDP per capita of nearly $56,600. This figure places Austria among the wealthiest nations globally, highlighting its established economic resilience and high productivity levels.

Austria demonstrates world-class health infrastructure and maternal care, reflected in an extremely low infant mortality rate of 2.600 per 1,000 live births. This figure is comparable to the best-performing countries globally and is supported by a high health expenditure percentage (10.878% of GDP).

Austria faces a significant demographic challenge due to a very low fertility rate of 1.32, which is far below the replacement level of 2.1. Combined with a high life expectancy (81.54 years), this trend indicates a rapidly aging population and potential future strain on the workforce and social security systems.