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

EBRD: CESEE Countries Must Improve Legal Security

The European Bank for Reconstruction and Development underlines that banks need more stable legal systems in Eastern Europe.

November 24, 2012

OMV Focuses on Black Sea and North Sea

By 2020, the Austrian oil and gas group will ship natural gas from the Black Sea to Austria. Investments in the North Sea region are being fostered.

November 24, 2012

Poland´s Population Expected to Shrink

In the next 40 years, the Polish population might decrease by 6 million.

November 24, 2012

Hungary: Small Concession for Banking Industry

The banking sector in Hungary is under pressure. The government in Budapest decided to pay back debts of municipalities by the end of the year.

November 24, 2012

S&P Downgrades Hungary

The U.S. rating agency lowers Hungary´s sovereign debt rating from “BB+” to “BB”.

November 23, 2012

VIG: Satisfying Results Ahead

Next Tuesday, Vienna Insurance Group will publish its results for the first nine months of 2012.

November 23, 2012

Croatia Plans to Introduce Property Taxes

Croatia´s Finance Minister Slavko Linic plans to introduce a property tax next year. The rate will come at 1.5%.

November 23, 2012

Slovenian NKBM in Difficulties

The second-biggest Slovenian Nova Kreditna Banka Maribor (NKBM) bank suffers from its risky assets. The NPL quota is still on the rise.

November 22, 2012

RBI Threatens to Leave Hungary

The Austrian Raiffeisen Bank International criticizes the burden for the banking sector in Hungary.

November 22, 2012

Czech Republic: Budget Approved

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

November 22, 2012

Hungary: Real Wages Decline Remarkably

In 2012, real wages went down by 5.3%. This is mainly due to the persistently high inflation rate (6.6%).

November 22, 2012

Poland: Economy Expected to Recover in 2013

Poland´s Minister of Finance Jacek Rostowski is optimistic that economic growth will accelerate next year.

November 21, 2012

Zavarovalnica Maribor Sale: Slovenia Under Pressure

The Slovenian bank NKBM has to sell its stake in the second-biggest Slovenian insurance company Zavarovalnica Maribor (ZM). The sale proves difficult.

November 21, 2012

Real Estate Market: Austria Is Underdeveloped

Regarding the rate of owner-occupied flats, Austria is below the EU average. Poland ranks first.

November 21, 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

Hungary: Public Debt Level Declines

Due to the favorable currency development, the public debt level fell slightly.

November 20, 2012

Slovenia to Sharpen Austerity Measures

The Slovenian Prime Minister Janez Jansa announced that the austerity policy will be implemented even more consequently.

November 20, 2012

Ukrainian National Bank Stresses Stability of National Currency

The National Bank of Ukraine was able to ensure hryvnia stability – by results of the expert meeting. Inflation could be kept at 0.00% in the first nine months of 2012.

November 20, 2012

Serbian Government to Raise Corporate Tax

The austerity pressure forces the Serbian government to increase taxes. Serbia´s corporate tax will move from 10% to 15%.

November 20, 2012

Hungarian Construction Industry Performs Well

In September 2012, construction increased by 6.8% in output year-on-year. The construction of buildings rose by 4.2% and that of civil engineering works grew by 9.4%.

November 20, 2012

Hungary: Gross Earnings Grow Moderately

In the national economy – at corporations employing at least 5 persons, budgetary and designated non-profit institutions – average gross earnings increased by 4.5%.

November 20, 2012

Poland: Pawlak Steps Down

The Polish Minister of Economics Waldemar Pawlak resigns. His re-election as leader of the Agrarian Party has failed.

November 19, 2012

Slovakia: Economy Slows Down

In the third quarter of 2012, Slovakia´s GDP grew by 0.6%. Compared to the previous quarter, the growth rate remained unchanged.

November 19, 2012

Ukrainian Banking Sector Expands Slightly

Despite the economic slowdown in the Ukraine, lending is on the rise.

November 19, 2012

Gloomy Prospects for Ukraine

Economic slowdown is gaining momentum: GDP slumped by 1.3% yoy in the 3rd quarter, while industrial output contracted for 5th month in a row in October (by 4.2% yoy), Austrian RZB states.

November 19, 2012

EU Budget: Losses for Poland Will Keep Within Limits

Poland will still be the biggest net contributor. According to Poland´s Prime Minister Donald Tusk, the negotiations prove highly difficult.

November 17, 2012

Serbia Attempts New Economic Reforms

The Serbian government does not only want to pursue a strict austerity policy. The country aims to become more attractive for international investors.

November 17, 2012

Belka: Polish Economy Will Recover In 2013

The governor of the Polish National Bank (NBP) Marek Belka demonstrates optimism.

November 17, 2012

Bulgarian Industrial Sector to Expand

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

November 17, 2012

Hungary: Next Austerity Package Resolved

The Hungarian government is caught between the need to lower the budget deficit and to support economic growth.

November 17, 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

Hungary: Decrease in Industrial Production Continues

In September 2012, industrial gross output declined by 3.8% in volume compared to the same month of 2011.

November 16, 2012

S&P Upgrades Latvia

The Baltic country performs well, S&P underlines. The long and short-term sovereign credit rating moved from “BBB-/A-3” to “BBB/A-2”.

November 15, 2012

NBP: Further Interest Cuts Likely

The Polish National Bank may reduce the base rate further. Poland´s economy is expected to slow down next year.

November 15, 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

Hungary´s Recession Goes On

In the third quarter of 2012, Hungary´s GDP was down by 1.5%.

November 15, 2012

Slovak Growth Flattens

Slovakia´s GDP still grows substantially, but slower compared to previous quarters. Employment growth stagnates, though.

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

Immofinanz: Major Success in Hungary

The Austrian real estate company concludes one of the biggest logistics leasing transactions of the year in Hungary.

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

CA Immo Expands in Warsaw

“Continuing success for largest Polish property development.” The Austrian property company will complete project before the end of the year.

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

Romania Hopes for New IMF Loan

The economic situation remains gloomy. Foreign direct investments are weakening. The economic outlook is rather decent.

November 13, 2012

Hungary: Inflation Remains on a High Level

In October consumer prices increased by 6.0% compared to October 2011. From September to October 2012, prices were up by 0.1%

November 13, 2012

Hungary: Head of Banking Association Resigns

The chairman of the Hungarian Banking Association Mihaly Patai steps down. He explains that the Hungarian state overburdens the banking sector.

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

CESEE: Lending Shrinks

Foreign banks reduce lending in Central, Eastern and Southeastern Europe. Hungary and Southeastern Europe are most affected.

November 12, 2012

Slovakia: Employment and Nominal Wage on the Rise

Employment and average monthly wage in selected sectors of economy in September 2012.

November 12, 2012

Slovenia Still Rules Out Calling for Rescue

The Slovenian government tries to prevent to be bailed out by the EU and IMF by all means. However, experts fear that Slovenia is the next candidate for the safety net.

November 10, 2012