| Capital |
Vienna |
| Area Sq Km |
83,870 |
| Area Sq Miles |
32,376 |
| Population |
8,184,691 |
| Languages |
German, Slovene, Croatian, Hungarian |
| Religions |
Protestant, Roman Catholic |
| Currency |
Euro |
| National Day |
October 26 |
Austria
Climate
Temperate; cold winters with frequent showers; moderate summers
Economy Overview
Austria
is closely tied to other EU economies, especially Germany's with its
well-developed market economy and high standard of living. The
economy features advanced industrial and agricultural sectors. 47% of
the land area being forested, making ‘Timber’ a key industry.
Membership in the EU has drawn a huge amount of foreign investments;
investors are attracted by Austria's access to the single European
market and proximity to the new EU economies. To meet increased
competition from both EU and Central European countries, especially the
new EU members, Austria will need to stress more on the knowledge-based
sectors of the economy, continue to deregulate the service sector. It
has to encourage much greater participation in the labor market by its
aging population, as the aging phenomenon, together with already high
health and pension costs, pertain more problems in tax and welfare
policies.
Government
Austria
has been a federal,parliamentary democracy republic since the Federal
Constitution of 1920,reintroduced in 1945 to the nine states of the Federal Republic,
each state with its ownassembly and government. The Government consists
of executive, legislative, andjudicial branches. The head of state is
the Federal President, who is directlyelected every six years by
popular vote. The chairman of the Federal Governmentis the Federal
Chancellor, who is appointed by the president and voted intooffice by
the majority of the Nationalrat, theNational Council of Austria. The Austrian parliament consists of two chambers, Nationalrat (National Council) and Bundesrat(Federal
Council). The judiciary is completely independent. The Legal
systeminvolves Supreme Court for civil and criminal cases, Administrative Court for cases involvingadministrative agencies, and Constitutional Court
for constitutionalcases. There are four higher provincial courts,
seventeen provincial anddistrict courts, and numerous local courts.
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