Austria and the Czech Republic - Read the latest headlines about bilateral relations in the areas of economy, diplomacy and culture
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Czech Republic in Austria | Czechs in Vienna | Bilateral Relations

Significant Upward Trend in Austrian Tourism Sector

Positive start in winter season 2012/13: 4.15 million overnights in November. The number of guests from Italy and Russia is growing remarkably.

January 4, 2013

Automotive Industry in CESEE Region Booms

According to an analysis issued by Austrian Erste Group, every fourth car produced in the EU in 2013 will be "Made in CEE".

December 28, 2012

Czech Republic Does Not Fulfill Maastricht Criteria

At the moment, joining the eurozone is no issue for the Czech Republic. The stability criteria are still not fulfilled anyway.

December 28, 2012

Czech Republic: Overall Confidence in Economy on the Rise

Overall confidence in domestic economy increased in December. The composite confidence indicator (economic sentiment indicator) increased by 1.1 points compared to November.

December 27, 2012

Government Crisis in Czech Republic

After the new Minister of Defence was removed, the coalition collapses.

December 21, 2012

CESEE: Deposit Growth Slows Down

Given the sketched regional loan growth dynamics and their most important drivers it comes as no surprise that deposit growth rates in CEE also decelerated in recent months, Raiffeisen Research states.

December 21, 2012

Czech Parliament Resolves VAT Increase

After months of controversies, the Czech Chamber of Deputies approved the government´s taxation plans.

December 21, 2012

CESEE: Airline Industry in Severe Crisis

The airline industry in East and Southeast Europe faces enormous difficulties. Not only Polish LOT needs immediate help.

December 21, 2012

Czech Republic: Euro Introduction No Issue Yet

The Czech Prime Minister Petr Necas explained that the Czech Republic does not strive for becoming a member of the Eurozone.

December 21, 2012

CESEE Asset Quality: “Not out of the woods”

In terms of asset quality the banking sector trends in CEE remain a mixed bag, Raiffeisen Research says.

December 20, 2012

CESEE Banking Sector: Improving Market sentiment, but Slower Growth

The average CEE loan growth slowed to16-17% yoy in Q3 from 19% in Q1/Q2, Raiffeisen Research says.

December 20, 2012

Czech Republic: Interest Rate Remains Unchanged

The council of CNB (Czech National Bank) decided to let the interest rate at 0.05%.

December 19, 2012

Poland and Hungary to Cut Interest Rates Further

Unlike the Czech Republic, Poland and Hungary still have some downward potential. The inflation rate is still below the base rate.

December 19, 2012

CESEE: Poverty Grows Considerably

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

December 18, 2012

Banking Union: Czech Republic Cautious

For the time being, the Czech Republic will not join the single supervising mechanism.

December 15, 2012

EU Guarantees Stability of Czech Banking Sector

The Czech Republic will not use its right to veto. In return, the EU guarantees the stability of the Czech financial sector.

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

Czech Finance Minister: „No Reason to Veto Banking Union“

The Czech Minister of Finance Miroslav Kalousek announced that the Czech Republic has no concerns against the banking union in the Eurozone.

December 12, 2012

Czech Republic: Migration Declines

The population of the Czech Republic increased by 7.8 thousand to 10 513.2 thousand during the first three quarters of 2012.

December 12, 2012

Gasparovic Meets Klaus

The Slovak President Ivan Gasparovic was officially received by his Czech counterpart Vaclav Klaus.

December 11, 2012

Czech Unemployment on the Rise

In November, the Czech unemployment quota reached 8.7% after 8.5% in the previous month.

December 10, 2012

Czech Construction Output Decreases

In October 2012 the construction output decreased by 4.3%, year-on-year (y-o-y), in real terms. Even a higher number of working days has not stopped the decline in construction output.

December 10, 2012

Czech Industry: More Working days, More Production

In October 2012, industrial production increased at constant prices by 4.1%, year-on-year; working days adjusted industrial production decreased by 3.3%.

December 10, 2012

Czech Republic: Klaus Rejects ESM

Czech Republic´s President refuses to grant consent to the ESM bill.

December 7, 2012

Czech Republic: Recession Continues

In Q3 2012, the gross domestic product adjusted for price, seasonal, and calendar effects decreased according to the refined estimate by 1.3%, year-on-year (y-o-y), and by 0.3%, quarter-on-quarter (q-o-q).

December 7, 2012

Czech Republic: Highest Exports and Imports Ever Recorded

In October 2012, according to preliminary data of ‘border statistics’, current price exports and imports rose by 7.5% and 8.2%, year-on-year (y-o-y), respectively.

December 7, 2012

Czech Republic Still May Use Veto Against Banking Union

The Czech government wants to secure the rights of national regulation authorities.

December 5, 2012

CNB Underlines Stability of Czech Banking Sector

According to CNB, the banking industry is able to bear potential external shocks.

December 5, 2012

Czech Republic: Retail Industry Shrinks

In October, sales in retail trade including automotive segment after seasonal adjustment decreased by 1.5% at constant prices, month-on-month, and working days adjusted by 3.0%, y-o-y.

December 5, 2012

Czech Republic: Decline in Real Wages Continued

In real terms, wages declines by 1.8% in the third quarter.

December 4, 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

Czech Republic: Deposits Grow Substantially

At the end of September, client deposits at Czech banks reached CZK 3,100bn. Compared to September 2011, this is an increase by 8.3%.

December 1, 2012

Pension Costs to Increase Moderately

According to CNB (Czech National Bank), pension costs will increase by 3.0% of GDP in the next fifty years.

November 30, 2012

CESEE: Russia Has Best Growth Prospects

Next year, Russia is expected to record a GDP growth rate of 3.8%, Vienna Institute of International Economic Studies (wiiw) says.

November 26, 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

Czech Republic: Overall confidence in economy decreased

The composite confidence indicator (economic sentiment indicator) decreased by 1.7 points compared to October.

November 26, 2012

More Hungarians Leave their Country

Especially high-skilled Hungarians tend to emigrate. The labor market conditions in Hungary are often precarious.

November 24, 2012

Czech Republic: Budget Approved

Next year, the Czech state budget is planned to reach 2.9% of GDP.

November 22, 2012

CNB: „Czech Republic Does Not Need Quantative Easing“

The Czech National Bank underlines that the country´s economy is fundamentally stable. The current situation would be managable.

November 20, 2012

Treichl: Austria Should Cooperate with CEE Countries

Erste Group´s CEO Andreas Treichl thinks that CEE countries and Austria should create a model region in Europe like the Scandinavian countries did.

November 16, 2012

„Greece Has No Future in Eurozone“

The Czech President Klaus thinks that the Eurozone could bear a Greek exit without any problems.

November 15, 2012

Czech GDP Drops Further

In the Q3 2012 the gross domestic product adjusted for price, seasonal, and calendar effects decreased by 1.5%, year-on-year, and by 0.3%, quarter-on-quarter, according to the preliminary estimate.

November 15, 2012

CESEE: Massive Capital Outflow

In the second half of 2011 and in the first half of 2012, foreign banks withdrew about € 55bn from the region.

November 14, 2012

Austria Third Largest Investor in Czech Republic

According to the Czech President Vaclav Klaus, his Austrian counterpart Heinz Fischer and the President of the Austrian Chamber of Commerce Christoph Leitl, the bilateral trade relations are expandable.

November 14, 2012

State Visit: Klaus Received by Fischer

Today, the Czech President Vaclav Klaus has met his Austrian counterpart Heinz Fischer in Vienna. The commonalities are rather small.

November 13, 2012

Czech Republic Does not Leave Recession Behind

The country does not only stay in a recession, the situation worsens further, economists say.

November 13, 2012

Bank Austria: Subsidiaries in Czech Republic and Slovakia to Merge

Bank Austria´s holding company UniCredit starts a Business Refocusing Program in CEE.

November 13, 2012

Czech Inflation on the Rise

Consumer prices in October increased by 0.2% compared with September after declining in each of the three previous months.

November 9, 2012

Czech Republic to Enlarge Nuclear Energy Production

Until 2014, the Czech Republic wants to double the share of nuclear energy production. The Temelin and Dukovany nuclear power plants will be enlarged.

November 9, 2012

Czech Republic: Unemployment Rate on the Rise Again

In October, the Czech unemployment rate came at 8.5%. The number of vacancies fell slightly.

November 8, 2012
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