Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
RBI: Change in Shareholdings Expected
The announcement to increase capital by Raiffeisen Bank International (RBI) did not come as a surprise. However, experts and investors did not expect such a high volume (up to € 2.5bn) and fear a dilution in shareholdings.
January 10, 2014
Slovenia: 2014 Credit Line of € 7.7bn
On Thursday the Slovenian government adopted a budget financing plan which includes this year’s credit line of up to € 7.7bn.
January 10, 2014
Poland: Key Interest Rate to Remain Unchanged
As expected, the key interest rate will not be changed. According to Marek Belka, governor of the Polish National Bank (NBP), there was no need in monetary interventions.
January 9, 2014
Eurozone: Further Capital Injections at Banks Expected
The Council of the European Central Bank (ECB) is holding a summit today. The low inflation rate in the Eurozone is still a dilemma for the monetary authorities.
January 9, 2014
Hungary: Austrian Farmers Still Left in the Dark
There is still no clarification in the controversial Hungarian land law for Austrian farmers and land owners.
January 9, 2014
RBI Expects Growth to Accelerate in 2014
2014 marked by growth recovery, according to RBI Research.
January 9, 2014
Slovenia: Growth through Diplomatic Network
Slovenian Finance Minister Karl Erjavec assured that throught diplomatic network the country’s economy will still be supported.
January 9, 2014
Orco Property Group: Cut in Number of Board Members
Shareholders of Luxembourger real estate company Orco Property Group voted to cut the number of board members from nine to five on Monday.
January 8, 2014
Austria: First Tax Package to Be Presented
The Austrian government intends to present the first tax package tomorrow.
January 8, 2014
Sobotka Presses for Appointment of Czech Government
As reported by Czech news agency CTK, party leader of the Czech Social Democrats (CSSD) Bohuslav Sobotka will get together with President Milos Zeman to request a fast appointing of the new government.
January 8, 2014
Slovenia: Calls for Reforms Become Louder
The Slovenian Chamber of Commerce (GZS) calls upon the government to accelerate the realization of reforms to boost economic growth.
January 8, 2014
Hungary: SZKB to Take over Hungarian RBI?
Hungarian Economy Minister Mihaly Varga considers it unlikely for Szecheny Commercial Bank (SZKB) to take over the Hungarian affiliate of Raiffeisen Bank International (RBI).
January 8, 2014
Serbia: One of Fastest Growing Economies
Last year Serbia was among the ten fastest growing economies in Europe, as pointed out by Deputy Prime Minister Aleksandar Vucic.
January 8, 2014
Hungary Amending Figures of Budget Deficit
Hungarian Finance and Economy Minister Mihaly Varga announced that the budget deficit of 2013 will be below the target after it was lowered dramatically.
January 8, 2014
Meinl Bank: Plans of Growth in Czech Republic and UK
Meinl Bank has opened a new subsidiary in Prague. Growth plans for the core business in Central and Eastern Europe is well on its way, according to the bank’s officials.
January 7, 2014
Romania: Slight Increase in FX Reserves
In December 2013 FX reserves increased slightly compared to the previous month.
January 7, 2014
Poland: On Path of Recovery and Growth
The Polish economy has been growing steadily since the beginning of 2013. However, budget deficit slightly exceeded forecasts.
January 7, 2014
European Union: Private Trading of Banks to be Restricted
The European Union intends to severly restrict risky private trading of banks.
January 7, 2014
Hungary: Erste Group Confident
The third-largest lender in CESEE underlined that the Hungarian subsidiary will not be sold. The Austrian bank is confident to reach the turnaround soon.
January 6, 2014
First Offer for RBI´s Hungarian Subsidiary
The partly nationalized Hungarian lender Szechenyi Bank is interested in the Hungarian subsidiaries of the Austrian banks Erste Group and Raiffeisen Bank International.
January 6, 2014
VBAG: Complete Write-Off Possible
The Austrian state may has to write down its interest completely. Further capital injections are very likely. Also VBAG´s other shareholders will be obliged to provide fresh funds for the ailing bank.
January 4, 2014
Hypo Group Alpe Adria: „Bad Bank Will Come“
Klaus Liebscher, chairman of Hypo Group´s supervisory board, underlines that a bad bank will be established for the nationalized lender. Nevertheless, the bank remains the biggest financial disaster in Austria´s history.
January 4, 2014
European Savers in Danger
Already this year, savers in the Eurozone may fear a compulsory tax on deposits, the Danish Saxo Bank says.
January 4, 2014
Slovenia: More Resistance Against Real Estate Tax
On Friday a second petition was filed at the Constitutional Court against the property tax.
January 4, 2014
Southeastern Europe Endangered of Civil Unrests
According to the Economist Intelligence Unit, several CESEE countries may face civil unrests in 2014. In particular, Southeastern Europe is in the danger zone.
January 4, 2014
Czech Budget Deficit Lower than Expected
In total, the Czech budget deficit will come at 2.0% of GDP. Before, the budget deficit was estimated to come at 3.4% of GDP.
January 4, 2014
Czech Governor Awarded Banker of the Year 2014
Miroslav Singer, governor of the Czech National Bank (CNB) was given the Central Banker of the Year 2014 award for Europe by The Banker.
January 3, 2014
Eurozone: Number of Bank Credits Keeps Declining
The financial institutes in the Eurozone have been cutting back on granting credits. The lending for both business corporations and private persons has dropped by 2.3 percent.
January 3, 2014
Hungary: MKB Bank Sells Romanian Subsidiary
As announced in a statement Hungarian MKB Bank has sold its entire stake of its Romanian subsidiary.
January 3, 2014
Slovenia: Banking Sector Still in Turmoil
Small banks in Slovenia are reasons for concern in regard to their capital shortfalls.
January 3, 2014
Austria: FMA to Activate Whistleblower Hotline
At the beginning of this year the Financial Market Authority (FMA) in Austria has activated a “whistleblower hotline” for bank insiders to report about potential abuses.
January 3, 2014
Czech Economy to Return to Growth
After two years of GDP contraction, the Czech Republic will reach moderate economic growth rates in 2014.
January 2, 2014
CEE: Economic Sentiment Cautiously Optimistic
The economic sentiment for Eastern European countries is becoming more optimistic, however, only cautiously. Poland is on top of the list of economists at JP Morgan.
January 2, 2014
Austria: Unemployment Rate at Record High
Last year the unemployment rate in Austria recorded its highest level in 60 years.
January 2, 2014
Poland: WSE to Register More IPOs in 2014
Since further companies will start listing at the Warsaw Stock Exchange (WSE) in 2014 the Polish stock will become more attractive to investors.
January 2, 2014
Erste Group and Bank Austria Face Lawsuits
Two Austrian lending banks are involved both as plaintiffs and as defendants in bankrupt construction company Alpine’s court trials.
January 2, 2014
Serbia: Moderate Economic Growth in 2013
According to the release of the Serbian Statistical Office, GDP is estimated to have grown 2.4% in 2013.
January 2, 2014
Czech Republic: Household Debts Increasing
Debts to banks and other financial institutes by Czech households keep on increasing, according to a report by the Czech National Bank (CNB).
January 2, 2014
Croatia: National Bank Forecasts Decent Growth in 2014
Private and public consumption are anticipated to shrink further. Nevertheless, Croatia is expected to return to growth next year.
December 31, 2013
Austria: Hard Times for Regional Banks
Not only large banks are under pressure. In 2014, Austrian regional banks expect enormous challenges to deal with.
December 31, 2013
Hypo Group: Fatal Errors of Austrian National Bank
Before Hypo Group Alpe Adria was nationalized in late 2009, the Austrian National Bank (OeNB) has misjudged the situation of the problem bank completely. The Austrian government demonstrates its incompetence once again.
December 30, 2013
Slovenia: Public Debt Grows Unstopped
For Slovenia, the banking sector has infected the public sector for a long time. Now, Slovenia´s public debt begins to reach a dangerous level.
December 30, 2013
„Such Growth Rates Will not Return“
In an interview with the Austrian daily “Presse”, economist Karl Aiginger explains that the worst should be over. The reform pressure on the Austrian government is enormous.
December 30, 2013
Austrian Public Debt Reaches New High
The total size of public debt was never before so high. In the next years, the public debt ratio will come close to 80% of GDP.
December 30, 2013
Hypo Group: „The Wrong Decisions were Made“
Johannes Ditz, former chairman of the Austrian nationalized Hypo Group Alpe Adria, thinks that the Austrian government could have avoided a massive burden for the taxpayers.
December 28, 2013
Poland: Komorowski Approves Pension Reform
Poland´s President Bronislaw Komorowski has signed the nationalization act. However, he will send the law to the Constitutional Court.
December 28, 2013
Hungary: Best Economic Outlook since 2002
After the country had left the double-dip recession, the Hungarian economic sentiment index has reached the highest level in more than 11 years. Nevertheless, the country still has to manage number of fundamental risks.
December 28, 2013
Czech Republic: Babis Claims Finance Ministry
Andrej Babis, head of the second-largest Czech party, wants to become Minister of Finance. The Czechs face a new austerity package.
December 28, 2013
Croatia Needs Major Bridge Loan
In order to cover its fiscal shortfall, the youngest EU member country takes a bridge loan in the amount of € 200m.
December 28, 2013
Romania: Growth to Slow Down
In 2014, Romania´s GDP growth will only reach 2.0%, Turkish GarantiBank forecasts.
December 28, 2013
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