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Czech Republic in Austria | Czechs in Vienna | Bilateral Relations
Austria and the Czech Republic - Read the latest headlines about bilateral relations in the areas of economy, diplomacy and culture
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
CEE Deleveraging Remains Moderate
Austrian, German and Italian banks kept lending to CEE6 (except Hungary) relatively stable. Shifts in foreign capital structure and allocation from private to public sector might pose risks to future growth.
November 8, 2012
Czech Government Overcomes Vote of Confidence
The majority of the members of the Czech Parliament approved the amended austerity program.
November 7, 2012
Czech Service Sector Stagnates
In Q3 2012, seasonally adjusted sales in services increased by 0.1%, quarter-on-quarter, at constant prices.
November 7, 2012
Future of Czech Government Uncertain
Although Prime Minister Petr Necas was confirmed as party leader of the governing ODS, the government is still threatened to collapse.
November 6, 2012
Czech Industrial Production Shrinks
In September 2012 industrial production decreased at constant prices by 7.1%, y-o-y. Working days adjusted (WDA) industrial production decreased by 2.4%.
November 6, 2012
Czech Construction Industry Affected by Recession
In September 2012 the construction output decreased by 10.6%, year-on-year (y-o-y), in real terms.
November 6, 2012
Czech Exports Stagnate
In September 2012, according to preliminary data of ‘border statistics’, current price exports rose by 0.6%, while imports fell by 3.3%, year-on-year (y-o-y).
November 6, 2012
Czech Unemployment Growing Slightly
In October, the Czech unemployment quota was up by 0.4 percentage points compared to the reference period of 2011.
November 3, 2012
Czech Republic to Stagnate
The economic outlook for the Czech Republic had to be revised again. After a significant recession in 2012, the Czech GDP will only grow by 0.2% next year.
November 2, 2012
CNB: Interest Rate at Historical Low
Today, the Czech National Bank (CNB) decided to cut the interest rate to 0.05%. Now, foreign exchange interventions are the only tool for CNB.
November 2, 2012
Czech Household Debt on the Rise
Against 2011, Czech household debt was up by 4.2%. At the end of September, the level of debt of Czech households to banks reached € 45.8bn.
October 31, 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
Czech Republic and Slovakia: Nuclear Power Remains Main Energy Source
The Czech Prime Minister Petr Necas and his Slovak counterpart Robert Fico underline that nuclear energy will remain the future technology.
October 30, 2012
„Banking Union Weakens Central Banks“
The Czech President Vaclav Klaus criticizes that a common banking supervision limits the competencies of national central banks.
October 30, 2012
Saving in CEE Becomes More Important
Poles and Slovaks are CEE's savings champions, putting aside 15% resp. 12% of their monthly income. Austrians, Germans and Czechs follow suit with 9%.
October 29, 2012
Czech Republic: Economic Sentiment on the Rise
According to recent surveys, confidence in the Czech Republic is increasing slightly.
October 25, 2012
CA Immo´s Occupancy Rate in Prague at 90%
The Austrian real estate company CA Immo has managed to secure further tenants for four office buildings and a shopping center in Prague.
October 25, 2012
Czech Government to Change?
Prime Minister Petr Necas is under pressure. A failed austerity package would cause a government change.
October 23, 2012
Czech Banking Sector to Sharpen Lending Conditions
For corporate and housing loans, lending conditions were tightened in the third quarter of 2012.
October 23, 2012
Rewe Austria to Expand in Russia
Rewe Austria intends to open ten new stores in Russia per year. Besides Russia, the Ukraine and Romania are main target markets.
October 22, 2012
Poland Favors Banking Union, Czech Republic is Skeptical
The governor of the Polish National Bank Marek Belka calls for joining the banking union. The Czech Republic may use the right to give a veto.
October 20, 2012
Porr´s Construction Output Shrinks
The third-largest Austrian construction group records an increase in orders. Porr´s CEO Karl-Heinz Strauss is satisfied.
October 18, 2012
Klaus: “Nobel Prize for EU is a Mistake”
The Czech President Vaclav Klaus criticizes the decision of the Nobel Prize Committee. For him, the decision is a “joke”.
October 13, 2012
Czech Government Attempts to Stimulate Growth
On the one hand, the Czech government deepens the austerity measures. On the other hand, growth-stimulating investments should be initiated.
October 13, 2012
Czech Banking Association Pessimistic
CBA has lowred its forecast on the Czech economy. The decreasing household consumption would be the main reason.
October 12, 2012
Czech National Bank Open for Interventions
At the moment, the Czech National Bank (CNB) sees no reason for weakening the exchange rate of the Czech Crown. However, CNB is ready to start interventions if necessary.
October 12, 2012
Czech Economy to Shrink by 1.0% This Year
According to IMF, the Czech GDP will shrink by 1.0% this year. Next year an economic growth rate of 0.8% is expected.
October 10, 2012
Czech Republic: Industrial Sector Most Important
Among the EU members, the Czech Republic shows the highest percentage of people working in the industrial sector.
October 6, 2012
CEE Countries Must Work Upon Economic Convergence
CEE countries are struggling with weaker external demand and uncertain consumers, whereas in most cases fiscal policy is under control. Labour productivity, costs and competitiveness of CEE region give reason for optimism.
October 5, 2012
Romania: Lowest Importance of Service Sector in EU
Almost 70% of employed persons in the EU27 worked in the service sector in 2011. The scope ranges from 43% in Romania to 85% in Luxembourg.
October 5, 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
Nine Prime Minister Discuss EU Budget in Bratislava
The Prime Ministers of nine countries of Central and Eastern Europe will meet in the Slovak capital on October 5.
October 3, 2012
Lenzing Expands into Czech Republic
The Austrian fiber producer Now Owns 100% Stake in Pulp Producer Biocel Paskov.
October 3, 2012
Czech Deficit in 2013 at 2.9% of GDP
The Czech Government presented the budget bill for 2013. The Maastricht Criteria should be fulfilled.
September 29, 2012
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