list);
three composite leagues of the Austrian People's Party (OEVP)
representing business, labor, and farmers; OEVP-oriented League of
Austrian Industrialists; Roman Catholic Church, including its chief
lay organization, Catholic Action

International organization participation: AfDB, AG (observer),
AsDB, Australia Group, BIS, CCC, CE, CEI, CERN, EBRD, ECE, EIB, ESA,
EU, FAO, G- 9, IADB, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IEA,
IFAD, IFC, IFRCS, ILO, IMF, IMO, Intelsat, Interpol, IOC, IOM, ISO,
ITU, MINURSO, MTCR, NACC, NAM (guest), NEA, NSG, OAS (observer),
OECD, OSCE, PCA, PFP, UN, UNAMIR, UNCTAD, UNDOF, UNESCO, UNFICYP,
UNHCR, UNIDO, UNIKOM, UNMIH, UNMOT, UNOMIG, UNTSO, UPU, WCL, WEU
(observer), WFTU, WHO, WIPO, WMO, WToO, WTrO, ZC

Diplomatic representation in US:
chief of mission: Ambassador Helmut TUERK
chancery: 3524 International Court NW, Washington, DC 20008-3035
telephone: [1] (202) 895-6700
FAX: [1] (202) 895-6750
consulate(s) general: Chicago, Los Angeles, and New York

US diplomatic representation:
chief of mission: Ambassador Swanee G. HUNT
chancery: Boltzmanngasse 16, A-1091, Vienna
mailing address: use embassy street address
telephone: [43] (1) 313-39
FAX: [43] (1) 310-0682

Flag: three equal horizontal bands of red (top), white, and red

Economy
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Economic overview: Austria has a well-developed market economy
with a sizable - but falling - proportion of nationalized industry,
an extensive social system, and a high standard of living. Austria's
economy is closely integrated with Germany and other EU members -
Austria joined the EU on 1 January 1995. Since the early 1980s, the
Austrian economy has experienced stable growth. Following a mild
recession in 1993, Austria's economy - driven by strong exports,
investment, and private consumption - expanded 2.7% in 1994 and
about 2.4% in 1995. The slowdown in 1995 was largely due to an
appreciation of the Austrian schilling and its negative effect on
exports and tourism. EU membership has had a positive impact on
foreign investment and has helped to lower inflation. Despite
Austria's generally favorable economic prospects, the government
faces a number of economic challenges, especially budget
consolidation. Smaller than expected revenues and rising welfare
payments caused the budget deficit to climb to 7.1% of GDP in 1995.
Austria also faces a growing unem