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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
Romania: Another Major Privatization Ahead
Romania´s government intends to sell the publicly held share in the telecommunication group Romtelecom.
August 6, 2013
Turkey: Banking Sector Improves Profitability
In the first six months of 2013, net income of Turkey´s banking sector was up by 20%.
August 6, 2013
Ukraine: Negotiations with IMF as Last Exit
Seeking for an IMF loan is the last remaining alternative for the financially stricken country.
August 6, 2013
Drastic Output Decrease in Czech Construction Sector
In June 2013 the construction output declined by 11.1%, year-on-year (y-o-y).
August 6, 2013
Hungary: Industrial Production Still Declines
In June 2013 – according to preliminary data – industrial gross output declined by 0.6% compared to the same month of 2012.
August 6, 2013
Czech Republic: Foreign Trade Shrinks
In June 2013, according to preliminary data of ‘cross−border statistics’, exports and imports at current prices decreased by 2.5% and 4.8%, year-on-year (y−o−y), respectively.
August 6, 2013
Czech Republic: Retail Sales dropped Again
In June, sales in retail trade including the automotive segment after seasonal adjustment decreased by 1.5% at constant prices, month-on-month.
August 6, 2013
Czech Republic: Employment is the Highest Since 1998
The total employment in Q2 2013 increased by 64.9 thousand persons compared to the same period of 2012.
August 5, 2013
Croatia: Foreign Currency Loans No Danger for Banks
About 8% of the loan portfolio in Croatia consists of Swiss franc loans. Banks would be able to bear losses.
August 5, 2013
Romania Initiates Structural Reforms
In order to receive a precautionary loan from the IMF, Romania´s government will implement a series of reform steps. Above all, Romania starts privatizations again. Romania´s economic outlook continues to brighten.
August 3, 2013
Czech Republic: Interest Rates Remain Flat
The Czech National Bank (CNB) holds the base rate at its historical low. In the course of 2014, the Czech economy is expected to recover.
August 2, 2013
Poland: Slow, but Steady Progress
Poland´s National Bank anticipates a longer term of interest rate stabilization. The economic trend reversal will come in the third quarter, rate setter Andrzej Bratkowski stated.
August 2, 2013
S&P: Croatia Downgraded Again
The rating agency puts the outlook on Croatia from „stable“ to „negative“. The rating remains unchanged.
August 2, 2013
Hungary: Exports Growing Moderately
External trade showed a surplus of EUR 641 million in May.
August 2, 2013
Russia: Consumer Debt Grows Persistently
Russia´s Central Bank wants to stop the increasing debt servicing costs for Russian households.
August 2, 2013
Czech Industry Highly Dominated by Foreign Investors
In total, 42% of the company´s capital is controlled by non-domestic investors. This is the result of a study compiled by Bisnode.
August 2, 2013
Eurozone: Inflation Remains Stable
Flash estimates show the Euro area annual inflation is stable at 1.6 percent.
August 1, 2013
Turkey: Tear Gas Against Protesters Again
Once more, the Turkish police uses tear gas to fight off protesters.
August 1, 2013
Romania: Drop of VAT on Bread and Baked Goods
Around 70 percent of Romanian bread and baked goods are sold on the black market. A drop in VAT is supposed to change that.
July 31, 2013
Eurozone: Business Investments Decreased to 18.8 Percent
Business investment rate down to 18.8% in the euro area and to 18.3% in the EU27 Business profit share at 37.7% and at 37.2% respectively
July 31, 2013
Eurozone: Household Real Income Increased 0.5 percent
Household saving rate up to 13.1% in the euro area and to 11.0% in the EU27 Household real income per capita increased by 0.5% in the euro area
July 31, 2013
Poland: Estimates for 2014 Lowered
Forecast by IbnGR: Poland's GDP will grow 1.2 percent in 2013 and 2.6 percent in 2014.
July 30, 2013
Poland: Foreign Trade Deficit Grows Substantially
Poland's final 2012 trade deficit comes at € 10.584 bn, according to statistics office.
July 30, 2013
Russia: Stronger Regulations for Market for Consumer Loans
Business with consumer credits have started comparatively late in Russia. Now, the market is supposed to be regulated further.
July 29, 2013
ECB: No Risk of Deflation in Europe
The European Central Bank (ECB), in contrast to the International Monetary Fund (IMF), does not see the danger of a general downward trend in prices with all its negative effects for the economy.
July 29, 2013
Czech Republic: President Zeman Names 15 New Ambassadors
The step had been delayed for several months over Zeman’s dispute with Foreign Minister Karel Schwarzenberg over the filling of ambassadorial posts in Bratislava and Moscow.
July 26, 2013
Czech Republic to Remain in Recession
The Czech economy will, according to the Finance Ministry in Prague, shrink by 1.5 percent and only start growing again in 2014 by 0.8 percent.
July 26, 2013
Poland: President Komorowski Most Trusted by Citizens
Poles trust president much more than party leaders.
July 26, 2013
Hungary Abandons Radical Resolution On Foreign Exchange Loans
Foreign currency denominated mortgages for home purchases shall be phased out.
July 25, 2013
Czech Republic: CEZ to Postpone Completion of Temelin
Czech energy company CEZ announced that the decision for the finalization of nuclear power plant Temelin will take at least a year longer than planned.
July 25, 2013
Poland: Opposition Calls for Parliamentary Inquiry
PiS chief opposition calls for parliamentary inquiry into public finances.
July 24, 2013
Austria: Economists Predict Rosy Days
The Austrian economy will be growing by 1.7 percent on an annual basis and is developing much better than the rest of the Eurozone, the Austrian Institute for Higher Studies (IHS) predicts.
July 24, 2013
Poland: Dispute Between NBP and Finance Ministry
Finance Minister Jacek Rostowski and Governor of Polish National Bank Marek Belka are blaming each other for the poor performance of Poland´s economy.
July 23, 2013
Orban: Not Joining Eurozone in the Next Ten Years
Hungary´s Prime Minister thinks that his country should not become a member of the euro area in the medium term.
July 23, 2013
Russia: Inflation on the Rise
In the first six months of 2013, the inflation rate came at 3.5%. Compared to the reference period of 2012, the inflation rate was up by 0.4 percentage points.
July 23, 2013
Turkish National Bank Raises Base Rate
Today, Turkey´s National Bank has increased the base rate from 6.5% to 7.25%. Turkey wants to prevent a devaluation of the lira.
July 23, 2013
Hungarian Central Bank Cuts Base Rate Again
At its meeting on 23 July 2013, the Monetary Council reviewed the latest economic and financial developments and voted to reduce the central bank base rate by 25 basis points from 4.25% to 4.00%, with effect from 24 July 2013.
July 23, 2013
Poland: Economic Trend Reversal Likely
In the 1st half of 2013, together with still unfavourable business tendencies on global markets, the economic slowdown maintained in Poland. However, forecasts give reason for cautious optimism..
July 23, 2013
Hungary Plans New Burden for Banks
Hungarian households are still over-indebted. Prime Minister Viktor Orban aims to help them on the expense of the banking sector.
July 23, 2013
Poland to Enter the Eurozone in the Medium Term
The biggest new EU member country will become a member of the Eurozone, political observers say unanimously. The only question is when.
July 23, 2013
Russia: Recession Not Excluded Anymore
Above all, Russia suffers from a shrinking industrial sector and a decline in foreign direct investments.
July 22, 2013
Poland: Budget Deficit to Peak in 2013
This year, Poland´s budget deficit is expected to reach 4.4% of GDP. The country still has a stable public sector, Moody´s comments.
July 22, 2013
Czech Banking Industry Reduces Lending Significantly
According to a survey issued by the Czech National Bank, banks tightened their credit standards in all the monitored credit market segments in 2013 Q2.
July 22, 2013
Hypo Group Needs Even More Money
The nationalized Austrian bank needs fresh funds of more than € 700m. For the Austrian taxpayers, the banking package becomes more and more costly.
July 21, 2013
NBP Wants Government to Adapt Budget
After the Polish government has announced to postpone its austerity plans, the National Bank of Poland calls the government to submit an updated fiscal outlook.
July 19, 2013
Hungary: Net Earnings Grew Substantially
In the national economy – at corporations employing at least 5 persons, budgetary and designated non-profit institutions – average gross earnings increased by 3.3%
July 19, 2013
Erdogan Attacks Banks
Turkey´s Prime Minister wants to strengthen his fight against the over-indebtedness of private Turkish households. According to Erdogan, banks are responsible for the unfavorable situation.
July 18, 2013
Russian Economy Shows Insufficient Diversification
The Russian economy is primarily based on commodities, economists at the Moscow Higher School of Economics report. In the medium term, Russia has no growth potential, the experts say.
July 18, 2013
Poland Tries to Manage Fiscal Balancing Act
On the one hand, Poland´s government wants to keep an eye on the Maastricht Criteria. On the other hand, the economic growth would shrink even more without a fiscal stimulus.
July 18, 2013
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