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Bulgaria in Austria | Bulgarians in Vienna | Bilateral Relations

Strong Political Support for Nabucco

Nabucco countries acknowledge the ministerial declaration extending legal and regulatory framework to Nabucco West.

January 19, 2013

Citizens in CESEE Countries Tend to Pessimism

According to a survey carried out by the opinion research institute, pessimism in the countries of central, east and southeast Europe persists.

January 16, 2013

Fitch: Austrian Banking Industry Depends on CESEE

According to the U.S. rating agency, the situation of Austrian banks strongly depends on the development in central, east and southeast Europe.

January 14, 2013

Bulgarian Capital Account Deteriorates

In Q3 2012 the trade balance deteriorated by € 203.5m compared to the same period of 2011, which was entirely due to the increase of the export of investment goods following the recovery of investment activity in the country.

January 14, 2013

Bulgaria Continues Expansive Monetary Policy

In November money supply measured by means of the aggregate M3 returned to a more accelerated growth: 10.1% on an annual basis, Raiffeisen Research states.

January 14, 2013

Bulgaria: Current Account Turns Into Negative Territory

Expectedly the C/A balance deteriorated in October. Cumulatively from the beginning of the year its value also moved to negative territory: EUR -31.6m.

January 12, 2013

Only Small Budget Deficit in Bulgaria

The cumulative balance remained at -0.1% of GDP. Bulgaria only records a minor deficit of BGN 31m, Raiffeisen Research reports.

January 12, 2013

Bulgaria Enters Deflation Zone

A larger-than-expected correction in food prices led to 0.1% deflation in November, Raiffeisen Research says.

January 11, 2013

Bulgaria: Industrial Output Declines

In October industrial production shrank on an annual basis (by 1.5%) for the second consecutive month. At the same time, manufacturing output marked an increase. Construction output continued expanding.

January 11, 2013

Labor Time: Austrians Rank Second in EU

Only employees in the UK record more weekly working hours. On average, the working time came at 41.8 hours per week in Austria.

January 10, 2013

Central Europe's Relations With the U.S.

Philip H. Gordon from the Bureau of European and Eurasian Affairs at the U.S.-Central Europe Strategy Forum, Center for European Policy Analysis (CEPA) in Washington, DC remarks on the issue of U.S. relations with Central- and Eastern Europe as follows.

January 9, 2013

Poverty: Romanian and Bulgarian Citizens Most Endangered

Regarding the poverty rate, Bulgaria, Romania, Spain, Greece and Lithuania are significantly above the EU average.

January 9, 2013

Retail Trade: Sharp Decrease in Slovenia and Bulgaria

Volume of retail trade up by 0.1% in euro area in November 2012 compared with October 2012.

January 8, 2013

Bulgaria: Private Households Not to Increase Consumption

According to UniCredit Bulbank, the consumer behavior will remain rather cautious this year.

January 5, 2013

Bulgaria: Budget Deficit Lower than Planned

Bulgaria´s budget deficit is expected to reach about 1.0% of GDP.

December 30, 2012

Bulgaria: Lending Grows Substantially

In November 2012, the annual growth rate of broad money (monetary aggregate M3) was 10.1% compared to 8.6% in October 2012.

December 28, 2012

Bulgaria: Moderate Increase in External Debt

The gross external debt1 amounted to € 36,668.7m (92.8% of GDP2) at end-October 2012 increasing by EUR 823.2m (2.3%) from end-2011 (EUR 35,845.5m, 93.1% of GDP).

December 27, 2012

New Hope for Nabucco

The gas pipeline project is said to get a new major shareholder. In case of the entry of the Shah Deniz II consortium, Nabucco´s utilization would be secured.

December 22, 2012

Nabucco: Official Approval in Bulgaria

Bulgarian Ministry approves Nabucco National Environmental Impact Assessment Report.

December 22, 2012

CESEE: Poverty Grows Considerably

In Europe, one in four citizens is affected by poverty, the Russian newspaper “Rossijskaja Gaseta” states.

December 18, 2012

Labor Costs: Highest Increases in Estonia and Romania

Euro area hourly labour costs rose by 2.0%. In the EU27, labour costs were up by 1.9%.

December 17, 2012

Bulgaria: Budget Deficit Ahead

The January-October budget balance moves to negative territory (-0.1% of GDP), Raiffeisen Research says.

December 17, 2012

Bulgarian Foreign Trade Balance Positive

In September the current account was positive (€ 332.7m), which is typical for that month of the year, mainly due to the realization of revenues from tourism and agricultural exports, Raiffeisen Research states.

December 15, 2012

Bulgarian Labor Market: Participation Rate Grows

A repeated Eurozone recession could additionally deteriorate the state of employment, Raiffeisen Research says.

December 15, 2012

Bulgaria: Lending Growth Close to Freezing Point

The increase in deposits also decelerates. The annual rate of growth of money supply (measured by means of the M3 aggregate) slowed down in October to 8.6% (it was 8.8% in the previous two months), Raiffeisen Research says.

December 14, 2012

Bulgaria: „The pace of economic growth is sustained“

The domestic demand compensates for the deceleration in export, Raiffeisen Research says.

December 14, 2012

CEE Countries May Join Banking Union

ECB will become the main supervisor for the Eurozone´s banking industry. Non-Eurozone member countries are entitled to opt-in.

December 13, 2012

GDP per Capita: Romania and Bulgaria Tail-Lights in EU

GDP per capita varied by one to six across the Member States in 2011. Austria ranks third behind Luxembourg and the Netherlands.

December 13, 2012

Bulgaria: Foreign Trade Growing

According to the Bulgarian National Statistical Institute, Bulgarian Trade with Third Countries for the Period January - October 2012 grew by 11%.

December 11, 2012

Southeast Europe Agrees on Growth Strategy

In order to meet the 2020 growth strategy of the EU, the Balkan countries plan to co-operate more closely. Turkey and Bulgaria emphasize their good relations.

December 8, 2012

Russia Starts South Stream Pipeline

Today, the Russian gas group Gazprom has officially begun the construction works of the pipeline project.

December 7, 2012

Bulgaria Puts Pressure on Nabucco

Bulgaria wants the Nabucco project to start as soon as possible.

December 5, 2012

Poverty: People in Romania and Bulgaria Most Affected.

In 2011, 24% of the population were at risk of poverty or social exclusion, which is corresponding to around 120 million persons. The Czech Republic ranks first.

December 3, 2012

CA Immo: Major Leasing Agreement in Bulgaria

Together with its joint venture partners Robul and Bank Austria Real Invest, CA Immo has already signed new lease agreements for around 17,600 sqm of space in the Megapark office complex this year.

December 3, 2012

CESEE: Social Protection Still Underdeveloped

EU27 spent 29.4% of GDP on social protection in 2010. The lowest ratios were observed in Romania, Latvia, Estonia and Bulgaria.

November 27, 2012

CESEE: Eurozone crisis and Austerity Push Half of the Region into Recession

Export weakness and suppressed domestic demand will push nearly half of the CESEE region into recession this year, including the Czech Republic, Hungary, Slovenia, and nearly all Western Balkan countries.

November 26, 2012

AUA to Strengthen CEE Network

After Air Berlin decided to reduce the number of flights from Vienna to Eastern European destinations, Austrian Airlines intends to fill the gap.

November 20, 2012

Bulgarian Industrial Sector to Expand

Next year, Bulgaria´s industry is expected to record an increase in investments of 27%.

November 17, 2012

South Stream Pipeline: Construction Works to Begin in December

The pipeline projects of Russia´s gas group Gazprom makes substantial progress. Europe´s dependence on Russia is growing further.

November 12, 2012

Consumer Confidence Declining

In Hungary and Bulgaria, the economic sentiment is declining.

November 6, 2012

South Stream Pipeline: Gazprom Concludes Contract with Hungary

The Russian energy group Gazprom has negotiated the last conditions of the contract with Serbia and Hungary.

November 2, 2012

Bulgaria´s Growth Rate to Reach 1.0% in 2012

Bulgaria´s economy performs worse than expected. Next year, economic growth will recover.

November 2, 2012

Purchasing Power: Austria Ranks 6

Regarding the purchasing power per head, Austria is significantly above the European average of € 12,802.

October 31, 2012

VIG Considers Expanding Further

Vienna Insurance Group has cash reserves of € 1.5bn. Now, the insurance group wants to take over some small or medium-sized companies.

October 24, 2012

Vienna Stock Exchange Wants Further Privatizations

CEE Summit of the Vienna Stock Exchange: “Privatizations as a Driver of the Economy and the Capital Market”.

October 11, 2012

Bulgaria Records Lowest Wages in EU

Bulgaria´s GDP per capita only comes to 45% of the EU-average, Eurostat says.

October 8, 2012

Bulgaria: Djankov Predicts Long-Term Stagnation

Bulgaria´s Minister of Finance Simeon Djankov expects low growth rates in the next ten years.

October 6, 2012

Eastern Europe Remains Austria´s Future Region

The Austrian economist Christian Keuschnigg thinks that the opening of Austrian companies toward Eastern Europe was a “highly favourable event”.

October 4, 2012

Austria: Fixed Costs Come at 55% of Household Income

In Eastern Europe, the share of fixed costs is even higher. Romanian households spend 76% of their income on fixed costs.

October 4, 2012

Bulgaria: Bank Secret Wobbles

The Bulgarian National Bank warns of an easing of the bank secret. The Bulgarian Parliament argues that the bank secret protects money laundering activities.

October 3, 2012
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