Austria/Hungary Economic Progress

Austria/Hungary throughout the year has been a very interesting country to follow as its power and overall economy was flourishing at times and at others it has been in a state of great despair and depression. During the 14th-15th centuries while the Hapsburgs ruled Austria, it was a promising nation that had a strong army as well as a strong economy. Then after the fall of the Hapsburgs Austria soon after became a world power by acquiring Hungary in 1699 making it a force to be reckoned with. Years later as alliances came and went Austria developed a close tie with Germany that for a time made it an even stronger nation with a booming economy in preparation for WWI. Sadly, Austria/Hungary was harshly defeated and its economy was thrown 10 steps backwards as it had to pay war reparations and rebuild. After WWI though the Austria-Hungarian empire split and Hungary once again became its own nation.