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Eastern European Countries and Austria | Bilateral Relations
Austria and Eastern European countries - Latest headlines about bilateral relations in the areas of economy, business, diplomacy, culture and tourism
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
Slovenia: Sustersic Rules Out Coming Under Rescue Umbrella
In an interview with the Austrian news magazine “Standard”, Slovenia´s Minister of Finance Janez Sustersic says that his country is not candidate for the safety net ESM.
December 28, 2012
Lithuania: Budget Finally Approved
Lithuania´s President Dalia Grybauskaite confirmed the 2013 budget.
December 28, 2012
Poland: € 100m Aid for LOT
The Polish government grants a massive capital injection for the financially stricken airline.
December 27, 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
WIFO: „Shut Down Hypo Group“
The Austrian Institute of Economic Research (WIFO) recommends closing the nationalized banking group. The number of banks is expected to shrink radically.
December 27, 2012
Slovakia: Economic Outlook Worsens
The results of business survey and economic sentiment indicator for Slovakia were negative in December 2012.
December 27, 2012
Serbia: Moderate Real Wage Growth
Salaries and wages per employee in the Republic of Serbia were up by 2.0% in November 2012.
December 27, 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
Hungarian Government „Do Not Need Help from IMF“
Hungary´s Minister of Economics György Matolcsy argues that his country has never needed a loan from the IMF.
December 22, 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
Petrom: Major Gas Deal Signed
OMV Petrom exploring shallow water sector of Neptun block in the Black Sea.
December 22, 2012
Government Crisis in Czech Republic
After the new Minister of Defence was removed, the coalition collapses.
December 21, 2012
Hungary: Foreign Trade Grows Sligthly
Export and import volumes grew by more than 5% in October. In the first ten months, exports were up by 2.4%.
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
Bank Taxes: RZB Records Costs of € 168m
For Austrian RZB (Raiffeisen Zentralbank), bank taxes in Austria, Hungary and Slovakia come at € 168m. RZB will not leave Hungary, CEO Rothensteiner says.
December 20, 2012
Slovakia: Budget Deficit Comes at 4.6%
This year, the Slovak budget deficit is expected to be significantly beyond the Maastricht criteria.
December 20, 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
Erste Group Withdraws from Ukraine
Austrian Erste Group enters into an agreement to sell Erste Bank Ukraine.
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
Highest Percentage of Low-Wage Earners in Baltic Countries
One out of six employees in the EU27 was a low-wage earner in 2010. Large differences between men and women, levels of education and types of contract.
December 20, 2012
Poland: Recovery in Mid-2013
Poland´s new Deputy Prime Minister Janusz Piechocinski forecasts an upward trend beginning in the second half of next year.
December 20, 2012
Slovenia: No Referenda Against Austerity Policy
The Slovenian Constitutional Court decided that the Slovenians will not hold a public vote on the creation of a bad bank and the privatization policy.
December 20, 2012
Decreasing Production Output in Slovenia and Slovakia
October 2012 compared with September 2012: Euro area production in construction down by 1.6%.
December 19, 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
Bank Austria: Poland and Turkey are Most Attractive
According to Bank Austria´s board member Gianni Franco Papa, the performance of CESEE markets is satisfying.
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
Slovakia´s Economy Performs Well
In the third quarter of 2012, Slovakia's GDP at constant prices increased quarter-on-quarter by 0.6% (seasonally adjusted) and in year-on-year terms by 2.1% (seasonally unadjusted), according to SO SR data.
December 19, 2012
Ukraine: Fiscal Policy Faces Unsolved Problems
The budget draft for 2013 provides no room for the fiscal consolidation, which looks incompatible with the IMF requirements.
December 19, 2012
Ukraine: Current Account Deficit Grows Significantly
Balance of payments deficit almost doubled in October – to USD 2.0 bn - amid sharp reversal in the capital flows and widening C/A deficit, Raiffeisen Research says.
December 19, 2012
Komorowski: “Poland Needs Euro”
Poland´s President Bronislaw Komorowski wants his country to join the Eurozone. Now, the government has to convince the people, he says.
December 19, 2012
Slovenia: Citizens Protest Against Austerity Cuts
The austerity policy of the centre-right government faces fierce resistance by the trade union and citizen´s movements.
December 18, 2012
CESEE: Poverty Grows Considerably
In Europe, one in four citizens is affected by poverty, the Russian newspaper “Rossijskaja Gaseta” states.
December 18, 2012
Ukraine: Real Economic Sector Disappointing
The State Statistics Committee confirmed its preliminary estimate of -1.3% yoy GDP growth rate in Q3 2012 (GDP grew 2% and 3% yoy in Q1 and Q2 respectively).
December 18, 2012
Romanian Post to be Privatized
In total, 51% of the company will be sold. The Romanian state will keep a 24% stake in Post.
December 18, 2012
Ukraine: Reform Pressure Grows
Mykola Azarov is reappointed as Prime-minister, facing tough challenges ahead, Raiffeisen Research states.
December 18, 2012
Hungary: Earnings Grow by 4.%
In the national economy – at corporations employing at least 5 persons, budgetary and designated non-profit institutions – average gross earnings increased by 4.5% in nominal terms.
December 18, 2012
Hungary Continues Downward Trend
In the third quarter, Hungary´s GDP contracted by 1.5%, OECD says. The whole year will bring similar results.
December 18, 2012
Rostowski: “Poland Will Enter Eurozone as soon as Possible”
Poland´s Minister of Finance Jacek Rostowski announced that his country wants to become a member of the Eurozone. However, the problems of the Eurozone must be solved before, he said.
December 18, 2012
Erste Group: Massive Cuts in Romania
Due to the weak performance of BCR, the Austrian bank plans to lay off 1,600 employees in Romania. BCR´s NPL quota remains on a high level.
December 18, 2012
Ponta to Remain as Prime Minister
Despite heavy dispute with Ponta, Romania´s President Traian Basescu announced to swear him as Prime Minister. Basescu has no other choice.
December 17, 2012
S&P Downgrades Croatia
Croatia´s Minister of Finance Slavko Linic does not exclude that Croatia needs support from the IMF next year.
December 17, 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
Hungary: Construction Output Increased by 1.4%
In October 2012, construction increased by 1.4% in output year-on-year. Within this, the construction of buildings decreased by 0.3% and that of civil engineering works grew by 2.7%.
December 17, 2012
Kazakhstan: „Among the Top 30 in 2050“
Kazakh President Nursultan Nazarbayev predicts an economic boom in the next decades.
December 15, 2012
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