Vienna's Foreign and Bilateral Relations

Read the latest headlines about bilateral relations in the areas of economy, business, diplomacy, culture and tourism between Austria and its partners

Serbia: New Budget Turning Point for Economy

Next year’s draft budget is, according to Prime Minister Ivica Dacic the opportunity for a new beginning and a turning point in a responsible approach to running the Serbian economy.

December 9, 2013

Czech Republic: Industrial Output Slowed Down

In October, the industrial performance in the Czech Republic only grew by 3.5 percent on a year-on-year comparison basis.

December 9, 2013

Austria: Tax Increases Contemplated by Government

During the coalition negotiations increases of taxes on tobacco and alcohol is currently considered by the Social Democrats (SPÖ) and the People’s Party (ÖVP).

December 9, 2013

Wifo: Austrian Economic Growth Still Sluggish

Seasonally adjusted and corrected for working day effects, GDP increased by 0.2 percent compared to the second quarter. The upturn becomes evident only in a very moderate pace.

December 9, 2013

OTP Interested in MKB

Sandor Csanyi, CEO of the largest Hungrian lender OTP, considers taking over the rival MKB.

December 9, 2013

Slovakia: Economy Accelerates Slightly

In the third quarter of 2013, the Slovak GDP year-on-year growth was up to 0.9%, according to the Slovak Statistical Office.

December 8, 2013

Austria: Oppositional FPÖ Wants Return to Shilling

The largest Austrian opposition party wants to leave the Eurozone.

December 7, 2013

Major Changes in Hungarian Banking Industry Ahead

The Hungarian government comes closer to its objective. Foreign banks are leaving the country step by step.

December 7, 2013

Austrian FDI Worth Less than in 2003

Due to the financial crisis after 2008, foreign investments of Austrian investors have lost in value dramatically.

December 7, 2013

Austria: Slight Increase in Exports

In spite of a continuing difficult international environment domestic exports increased by 0.7 percent. According to Economy Minister Mitterlehner the Austrian exports are on a record high.

December 6, 2013

Austria to Raise Capital of up to € 30bn

In 2014, the Austria state will raise capital in the amount of € 28bn to 30bn from international capital markets. This year around € 29bn were raised.

December 6, 2013

Croatia: New Difficulties for Borrowers Ahead

The Croat banking sector pegs the interest rates to the EURIBOR. Consumers may have to pay higher borrowing costs.

December 6, 2013

Belka: Recovery Will Be Longer

According to Marek Belka, governor of the National Bank of Poland (NBP), the country’s economy sees a continuing and persistent recovery.

December 5, 2013

Moody's: ECB Rate Cut Does Little for Economic Growth

ECB rate cut to a record low 0.25% will likely do little to support economic growth, according to Moody's Analytics.

December 5, 2013

ECB: Debates about Further Measures in Monetary Policy

Today the 23 member of the European Central Bank’s Council have initiated debates about the the stance of monetary policy. The base rate, lowered to 0.25 percent last month, is expected to remain unchanged.

December 5, 2013

Vienna Insurance Group Awarded in Bulgaria

Awards for the Group companies Bulstrad and Bulstrad Life.

December 5, 2013

Czech Republic Remains in Recession

The Czech economy continues to shrink. Above all, private consumption and investments are weak.

December 5, 2013

Poland: Benchmark Rate Remains Unchanged

The Polish National Bank (NBP) holds the reference rate at its record low of 2.5%.

December 4, 2013

Raiffeisen Bank among Top Three Banks in Romania

Top three banks with best reputation - „The bank of Romanians” is client-centered, honest and transparent.

December 3, 2013

Austria: Debt Quota to Increase Slightly

Because of the new EU regulations the debt quota will increase by around 2.5 percent.

December 3, 2013

Poland: GDP Growth Speeds up

The long-awaited economic recovery starts to accelerate in Poland.

December 2, 2013

Hungary: Economic Acceleration Takes Form

According to French BNP, the Hungarian economy starts to grow again. Nevertheless, the banking industry does not face better times yet.

November 29, 2013

EANS-Total Voting Rights: Atrium European Real Estate Limited / Release according to article 93 BörseG with the aim of a Europe-wide distribution

EANS-Total Voting Rights: Atrium European Real Estate Limited / Release according to article 93 BörseG with the aim of a Europe-wide distribution

November 29, 2013

Polish Economic Growth Boosted by Exports

Due to the growing exports, Poland´s GDP accelerated in the third quarter.

November 29, 2013

PwC: Turbulent Years for Banks

According to a study by PricewaterhouseCoopers (PwC) the core capital of European banks need to be increased significantly.

November 28, 2013

Poland Looking for Investors for PHN

Polish real estate group PHN (Polski Holding Nieruchomości S.A.) is searching for an investor.

November 28, 2013

EU Needs Investments for Growth

Europe will not see any substantial growth without serious investment in research and innovation.

November 28, 2013

Croatia: Milanovic Promises Economic Recovery

Prime Minister vows that Croatia's economy will be put on a sounder footing.

November 28, 2013

Hungarian Parliament Resolves 2014 Budget

Hungary´s scheduled budget deficit in 2014 comes at 2.9% of the GDP. Economists are in doubt whether the deficit will be achieved.

November 27, 2013

Serbia: Further Austerity Measures Probable

In October, Serbia´s government has resolved a drastic austerity package.

November 27, 2013

Bulgaria: More than Half of Citizens Would Not Take Out Bank Loan

According to a survey, almost 60 percent of Bulgarians would not take out a bank loan regardless of the terms.

November 27, 2013

Croatia: HNB Pushes Credits

According to reports by Reuters, the Croatian National Bank (HNB) intends to issue HRK 4bn (US-$ 707m) to support credits. Further details will be published by the Central Bank later this week.

November 27, 2013

Hungary: Monetary Policy Eases Further

Today, Hungary´s National Bank (MNB) has cut the two-week deposit rate to 3.2% from 3.4%. The government is optimistic that the monetary easing will help Hungary´s economy.

November 26, 2013

Poland: Szczurek Calls for Radical Tax Reform

Poland´s designated Minister of Finance Mateusz Szczurek wants the change the current Polish tax system fundamentally.

November 26, 2013

Czech Republic: CNB Aquires Foreign Currencies

During monetary interventions CNB has purchased foreign currencies in the amoung of CZK 200bn.

November 26, 2013

Hungary. Forex Loans Probed by Supreme Court

Due to the upcoming elections in 2014, Hungary´s government puts pressure on the Supreme Court.

November 25, 2013

ECB Does Not See Danger of Deflation

Benoit Coeure, member of ECB’s supervisory board, does not see the danger of deflation in Europe.

November 25, 2013

Serbia: Inflation Rate at Lowest Level in a Decade

The Western Balkan country is expected to reach the lowest inflation rate in ten years.

November 25, 2013

Poland: IMF Corrects Growth Forecast Upward

Growth forecasts for next year were increased by 0.3 percent by IMF.

November 25, 2013

Bulgaria: Real Estate Transaction Increase Substantially

In the third quarter, Bulgaria´s residential property real estate transactions were up by 20%.

November 23, 2013

Czech Demand for Housing Loans Still Grows

While demand for consumer loans was down, demand for housing loans is still on the rise. In total, loan growth decelerates.

November 23, 2013

Czech Budget Deficit Shrinks

Despite the unfavorable macro-economic develoment, the Czech Republic´s budget deficit was down slightly. This is mainly due the the better tax collection, the Czech Statistical Office (CSU) reports.

November 23, 2013

Romania Faces Upgrade

Next year, Romanian sovereign bonds may be upgraded by Standard & Poor´s.

November 23, 2013

Czech Republic to Bottom Out?

The economic data for the third quarter indicate that the downward trend is stopped now, governor of the CNB said. Nevertheless, the GDP data are worse than expected.

November 23, 2013

Croatia: Amendmends to Cosumer Credit Law

Interest rates on housing loans pegged to Swiss Franc dropped by 30 percent.

November 22, 2013

Hungary: Further Cuts to Come

György Matolcsy, governor of the Hungarian National Bank MNB, stresses that there is room for further base rate cuts.

November 21, 2013

VIG and Bulgaria Are Causing Headache Each Other

The Austrian insurance group VIG has sold the Bulgarian pension fund to an unknown investor. Bulgaria´s government wants to reverse the sale.

November 21, 2013

Czech Republic: Sobotka Commissioned to Form Government

Czech President Milos Zeman engages the head of the social democrats (CSSD) Bohuslav Sobotka to form a new cabinet.

November 21, 2013

Szczurek Stresses Importance of Balanced Fiscal Policy

Poland´s new Minister of Finance Mateusz Szczurek underlines the importance of a fiscal stability.

November 21, 2013

EBRD: Eastern Europe “Stuck in Transition“

The European Bank for Restructuring and Development (EBRD) warned that Eastern Europe and the countries of the former Sovjet Union could remain “stuck in transition”, which is the titel of the current report.

November 21, 2013