Sponsored Content
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
Slovakia: Turnover in Internal Trade Decreasing
In October, the Slovak retail trade sector shrank by 1.8%. The wholesale sector still expands.
December 5, 2012
Hungary: Tourism Industry Booms
In October, public accommodation establishments saw a 9.1% rise in arrivals.
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
Serbian Government Emphasizes Austerity Policy
Next year, the Serbian budget deficit is expected to come at 3.3% of GDP. Until 2015, the deficit will be lowered further, the government says.
December 4, 2012
Poland: Another Rate Cut Expected
The Polish National Bank (NBP) will lower the interest rate one more time this year, analysts say.
December 4, 2012
Immofinanz: Major Contract in Budapest
Immofinanz Group announces extension of three leases covering 18,000 sqm at Atrium Park in Budapest.
December 4, 2012
Czech Republic: Decline in Real Wages Continued
In real terms, wages declines by 1.8% in the third quarter.
December 4, 2012
Verbund Sells Enerjisa to E.ON
Verbund, Austria’s leading utility, and E.ON, one of the world’s largest energy providers, have reached an agreement on an asset swap.
December 3, 2012
Poland: Economic Growth Flattens Further
The crisis in the Eurozone also hits Poland. In the third quarter, the economic growth rate only came at 1.4%.
December 3, 2012
Poland: Piechocinski to Become New Deputy Prime Minister
After the resignation of Waldemar Pawlak, the Polish government will not collapse, observers say. PSL´s new party leader Janusz Piechocinski is expected to succeed Pawlak.
December 3, 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
Hungary Considers Reducing Foreign Exchange Reserves
In order to repay loans, the Hungarian government is said to reduce the foreign exchange reserves of MNB (Hungarian National Bank). The government does not need to fear resistance by MNB.
December 1, 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
Serbia: Industrial Data on the Rise
In Serbia, the economic activity and foreign trade grows again, the Statistical Office says.
December 1, 2012
Slovenia: Austrian Grawe Will not Take Over ZM
The second-biggest Slovenian bank NKBM (Nova Kreditna Banka Maribor) sells its interest in the insurance group Zavarovalnica Maribor (ZM). Sava Re negotiates with NKBM already.
November 30, 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
Polish Economy Slows Down
In the third quarter, annual GDP growth was below 2%, the Polish Ministry of Finance said today.
November 30, 2012
Hypo Group Sold AluFlexPack to MTC
After months of negotiations, the Austrian nationalized bank sold the Croatian aluminum company to the Switzerland-based Montana Tech Components.
November 30, 2012
Fitch Cuts Croatia´s Credit Rating Outlook
The U.S. rating agency argues that the economic development in Croatia is substantially behind the expectations.
November 30, 2012
Hungary: Foreign Trade Declines
Surplus of HUF 215bn in external trade along with a decreasing turnover in September.
November 30, 2012
Unemployment Decreasing in Baltic Countries
Euro area unemployment rate at 11.7%. EU27 at 10.7%. Austria still records the lowest unemployment quota.
November 30, 2012
Inflation in Ukraine Remains at Zero Level
“Effective management of the financial sector allows Ukrainian authorities to hold inflation.” NBU (National Bank of Ukraine) states.
November 30, 2012
"Croatia on the final stretch towards EU membership"
Austrian State Secretary encourages Zagreb to take final steps of reform.
November 30, 2012
Slovenia to Inject Further Money in NLB
The biggest Slovenian banking group NLB records a capital shortfall of € 375m. Risky loans reach more than € 1.5bn.
November 29, 2012
Poland: Measures Against Shrinking Population
Poland´s Prime Minister Tusk announced that the government will improve its social policy. In the next 40 years, the Polish population might decrease by 6 million.
November 29, 2012
Serbia: Manufacturing and Retail Industry Terminate Recession
As per seasonally adjusted data GDP grew in Q2/12 by 2.1% qoq after falling by 1.9% qoq in Q1/12, finally moving into the positive territory after declining four quarters in a row.
November 29, 2012
Serbia: Exports Decreasing
As per seasonally adjusted data exports fell in August by 0.4% mom (July/12: +2.2% mom), while imports fell by 1.9% mom (July/12: +0.2% mom). Trade deficit in Jan1Aug/12 widened further to € 4.0bn (+12.8% yoy).
November 29, 2012
Hungary: Small Decrease of Investments
In quarter 3 of 2012 the volume of investments in the national economy was 2.1% lower than one year before.
November 29, 2012
Ukraine: “Stability of Currency Not Endangered”
Ukrainian businessmen are confident in the stability of hryvnia, the Ukrainian National Bank says.
November 28, 2012
Serbian Industrial Sector Expands
Surprising summer industry growth, local demand might hold more growth. Real wages grow slightly, Raiffeisen Research states.
November 28, 2012
Serbia: Budget Deficit Soared by 22.4%
This development was supported by sharper expenditures enlargement (+8.0% yoy) while fairly small revenue increase (+5.1% yoy), delivering public debt/GDP to 53.8% in September 2012.
November 28, 2012
Hungary: Unemployment Remains Stable
In August–October 2012, the official number of unemployed people was 463 thousand resulting in an unemployment rate of 10.5%.
November 28, 2012
Slovakia: Pessismism Grows Again
The Slovak Statistical Office published the results of business survey and economic sentiment indicator in November 2012. The economic sentiment confidence indicator has reached the lowest level since December 2008.
November 28, 2012
Poland: Unemployment Remains on High Level
The Polish government expects the unemployment quota to grow slightly.
November 27, 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
Romanian Central Bank on Hold
Romania´s Central bank remained on hold at its most recent monetary policy meeting on 2 November, keeping the monetary policy rate unchanged at 5.25%.
November 27, 2012
Romania: Fiscal Situation Improves
“Public budget deficit amounted to only 1.2% of GDP at the end of September, which was better than we had expected.” Raiffeisen Research states.
November 27, 2012
Poland: Foreign Direct Investments Grow Massively
Last year, the U.S. was the biggest investor in Poland. Regarding the EU budget, Prime Minister Tusk emphasizes that cohesion funds must not be cut.
November 26, 2012
Serbia: Real Income Shrinks
In October 2012, salaries and wages per employee in the Republic of Serbia decreased by 3.5% in real terms.
November 26, 2012
Romania: Foreign Trade Declines
"When expressed in EUR equivalent, both exports and imports of goods fell marginally in Q3 (-1.1% qoq and -0.3% qoq respectively, according to our in-house seasonally adjusted data)." Raiffeisen Research says.
November 26, 2012
Romania: Economic Upswing Expected
According with the flash estimates, real GDP declined by 0.5% qoq and by 0.6% yoy in Q3. “In our view, contraction was mainly the result of a plunge in agricultural output.” Austrian Raiffeisen Research says.
November 26, 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
"Austria remains a reliable partner for Albania on its way towards the EU"
Austria´s Vice-Chancellor Spindelegger at the opening of the Skanderbeg exhibition celebrating the 100th anniversary of Albania's independence and 20 years of Austrian development cooperation in Albania
November 26, 2012
Hungary: Retail Trade Sector Shrinks
Due to the declining real income, sales in the retail trade industry fell by 3.9% compared to 2011.
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
Ukrainian National Bank Under Pressure
In order to support its own currency, the foreign exchange reserves of NBU (Ukrainian National Bank) were down substantially.
November 24, 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
CESEE: Foreign Trade With Austria Booms
This year, Austrian exports to countries in Central, Eastern and Southeastern Europe are growing substantially.
November 24, 2012