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Important challenges for the future of Austrian well-being arise from demographic and environmental trends. The ageing of the population calls for a fair balance between life-time pension contributions and entitlements, drawing on the recent pension reform.
Austria enjoys strong material well-being and high quality of life. Steady convergence with top GDP
per capita levels translated into decisive improvements in household disposable incomes while significant redistribution has ensured low income inequality and poverty.
Austria’s prospects are among the strongest in Europe. Activity is picking up, and GDP is poised to increase by at least one and a half per cent next year (...) Austria’s rates of unemployment and youth unemployment remain among the lowest in the European Union, said Angel Gurría.
Austria has achieved high levels of economic growth and well-being, but must address serious demographic, environmental and globalisation challenges if future generations are to share the same prosperity, according to the OECD’s latest Economic Survey of Austria.
List of Economic Surveys - Austria
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.
Performance of fiscal policy, while good in international comparison, is not sufficient to prepare for future ageing-related spending increases.
The highly regarded Austrian health system delivers good quality and easily accessible services, but is costly.
Austria is recovering from the crisis which has increased fiscal vulnerabilities. The authorities should strengthen reforms so the economy is more resilient to fiscal pressures, and reinforce drivers of growth. The Survey discusses areas to improve fiscal performance, including health care r
Austria should eliminate subsidies which encourage early retirement and target social transfers more effectively, according to the OECD’s latest economic survey.