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Finance of Austria

The minimum monthly wage in Austria is not regulated by the government. Austria has a government debt of 57.4% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Austria is 2.1%. The currency of Austria is euro. There are several plural forms of the name 'euro'. These are euro, euros. The symbol used for this currency is €, and it is abbreviated as EUR. The euro is divided into cent; there are 100 in one euro. Each year, consumers spend around $230,783 million. The ratio of consumer spending to GDP in Austria is 60.64%, and the ratio of consumer spending to the world consumer market is 54%. The corporate tax in Austria is set at 25%. Personal income tax ranges from 0% to 50%, depending on your specific situation and income level. VAT in Austria is 20%.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Austria is $402 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Austria was last recorded at $45,981. PPP in Austria is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Austria is 381 billion. Based on this statistic, Austria is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Austria was last recorded at $43,483. The average citizen in Austria has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Austria averaged 1% in 2014. According to this percentage, Austria is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.