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 May Pay Back State Aid Sooner
For Austrian Raiffeisen Bank International, the state aid becomes more and more expensive. The repayment will take place before 2017, insiders report.
October 14, 2013
EU Commission Favors New Nabucco Project
After OMV’s pipeline project Nabucco failed, the EU Commission takes into consideration a stripped-down version along the Danube.
October 14, 2013
Croatia: Hypo Group Losing Last Industrial Participation
Croatian chemical company Dioki is facing bankruptcy which is why Hypo Group is losing one of the last industrial participations in the country.
October 14, 2013
Austrian Industrial Sector Well Positioned in International Competition
In 2012, the Austrian industrial sector was well positioned in the international competition, according to a study by the Austrian Institute for Economic Research (Wifo).
October 14, 2013
Ukraine’s EU Accession: Commission Still Positive
Stefan Füle, EU Commissioner for Enlargement and European Neighborhood Policy underlined once more Ukraine’s significant progress leading the country close to the European Union.
October 14, 2013
Serbia’s Participation in South Stream Not at Risk
According to Petar Skundic, Serbian energy advisor to the Prime Minister, the gas pipeline project is not imperiled by the government’s austerity measures.
October 14, 2013
Croatia: Not Plans of Privatizing State-Owned Companies
Croatian government denies it planned to privatize 28 large state-owned companies.
October 14, 2013
FX Loans: ECB Warns Hungary
ECB´s governor Mario Draghi warns Hungary. The conversion of foreign currency loans may sharpen the credit crunch.
October 14, 2013
Romania Keeps Majority Stake in Romgaz
Romania´s government will privatize 15% of the country´s biggest natural gas producer. The opening of the economy to foreign investors bears potential dangers.
October 12, 2013
Slovenia Does Not Fully Draw EU Funds
As the Slovenian projects will not be finished in time, the financially stricken country will fail drawing all funds.
October 12, 2013
Hungary: Borrowing Costs Decline
Yields on Hungarian sovereign bonds reached an all-time low. However, a rebound in 2014 is rather probable.
October 12, 2013
Federation of Austrian Industries Urges for Reforms
IV (Federation of Austrian Industries) has high hopes. The next Austrian government has to implement a number of reforms, IV´s President Georg Kapsch says.
October 12, 2013
Romania: “Aggressive Rate Cuts Likely”
In view of the accelerating disinflation in Romania, Vienna-listed RBI (Raiffeisen Bank International) expects the monetary policy to be eased further.
October 12, 2013
IMF: „Banks and Companies in a Vicious Circle“
Not only Greece, Spain or Portugal are struggling with a financially stricken banking sector. In Southeastern Europe, the situation is quite similar.
October 11, 2013
Serbia: FX Reserves Shrink
NBS FX reserves amounted to EUR 10,444.5 million at end-September, covering M1 by 333 percent and more than seven months of imports of goods and services. Inflation remains stable.
October 11, 2013
Austria: Venture Capital Market is Underdeveloped
According to the Austrian Institute of Economic Research (WIFO), more funds for start-up enterprises would help boosting the economy.
October 11, 2013
Croatia: Inflation Moderate
At the session the CNB Council examined recent economic and monetary indicators, as well as expected further developments.
October 10, 2013
Trade in Austria Has Increased Since Opening of CESEE Market
Today the Austrian Institute for Economic Research (Wifo) published the “Analysis of the Austrian Balance of Trade“ on behalf of the Economic Ministry.
October 10, 2013
IMF: Serbia´s Reforms are Not Sufficient
On the occasion of a visit in Serbia, the IMF commented the efforts of the Serbian government to cut the budget gap. The austerity cuts are right, but the country needs further reforms, IMF´s team said.
October 10, 2013
Polish Government to be Rearranged
On Wednesday Prime Minister of Poland Donald Tusk announced that there will be personnel changes in November within the government which will be presented in November.
October 10, 2013
Slovenia Cannot Escape the Vicious Circle
Slovenia still aims to manage its banking crisis on its own. After the new economic forecast issued by Slovenia´s National Bank, this aim suffers another setback.
October 10, 2013
Czech Inflation Below Expectations
The Czech inflation rate slowed down to 1.0% in September. In the next months, the country faces a stagnating economy in the best case.
October 9, 2013
Romania Under Observation
The IMF wants Romania´s government to put more effort in austerity measures, market liberalization and privatization of state-owned assets.
October 9, 2013
Gazprom May Face Proceedings by Austrian OMV
OMV considers arbitral proceedings against Russian Gazprom in case no joint solution will be found.
October 9, 2013
Austria: Alpine Holds € 52m in Assets
Creditors of Alpine have very little chances of being compensated after the construction company declared bankruptcy. Currently Alpine holds € 52m in assets.
October 9, 2013
Austria: FMA Approves of Sale of Hypo Group
The Financial Market Authority has given green light for the selling of Austrian problem bank Hypo Alpe Adria to Indian Srei Group.
October 9, 2013
Bratusek: “We Are Paying for Your Debts”
On Tuesday Slovenian Prime Minister Alenka Bratusek presented the budget draft for 2014 and 2015 to the members of parliament.
October 9, 2013
Hungary and Croatia to Solve MOL/INA Issue
Both Hungarian Minister of Foreign Affairs Janos Martonyi and his Croatian counterpart Vesna Pusic intend to solve the issue between Hungarian MOL and Croatian INA.
October 9, 2013
Serbia Fights Against National Bankruptcy
The Serbian government has decided to implement a new austerity package. Above all, civil servants face substantial salary cuts.
October 9, 2013
Serbia Gets Support by Former Italian Foreign Minister
On its path to EU integration, Serbia gets further well-known support.
October 8, 2013
Poland Hopes for Cheap Gas by Gazprom
The Polish government is hoping to be able to bargain prices with Russian energy giant Gazprom, Polish Minister for Economy Janusz Piechocinski announced today.
October 8, 2013
IMF Forecasts Only Minimal Growth for Austria in 2013
The International Monetary Fund (IMF) forecasts not even one half percent of GDP growth this year for Austria. However, 2014 has better chances for accelerated growth.
October 8, 2013
World Bank: 47 Banking Crises in the Past 40 Years
47 banking crises that have struck 116 countries in the past 40 years - World Bank
October 8, 2013
Austria: Alpine’s Bankruptcy Claims Amount to € 4.15bn
In regard to construction company Alpine’s insolvency, creditors have so far registered claims in the amount of € 4.15bn, as announced by liquidator Stephan Riel in the run-up to Wednesday’s examination hearing.
October 8, 2013
Poland: Amazon to Establish Three Logistic Centers
Leading online retailer Amazon will open three major logistic centers in Poland. According to the company’s own proclamation, this step does not relate to the latest striking problems in Germany.
October 8, 2013
Fekter Presses for Provisional Budget Financing
Finance Minister Maria Fekter (ÖVP) does not count on the government to present a budget draft in time, which was scheduled October 22 and involves the Finance Act until the end of the year.
October 8, 2013
Austria: President Prefers Grand Coalition
President Heinz Fischer has confirmed his wish for the formation of a grand coalition as this would be “the most reasonable solution”, according to him. Other possibilities were afflicted with too many uncertainties.
October 7, 2013
Romania: Bucharest Stock Exchange to Be Enlarged?
Ludwik Sobolewski, new CEO of Romania’s Bucharest Stock Exchange (BSE), is toying with the idea of enlarging the institution and making it a competition to Budapest, Vienna and Prague withing two years only.
October 7, 2013
Hungary Rejects Extradiction of Head of Mol
A Hungarian court rejected the extradiction of Zsolt Hernadi, who is alleged of having bribed former Croatian Prime Minister Ivo Sanander.
October 7, 2013
Porr: Capital Increase and Rise in Profits Expected
CEO of listed Austrian construction company Porr Karl-Heinz Strauss is still in favor of a capital increase in 2014 or 2015 and calls upon the government to create “projects for the future”.
October 7, 2013
Bulgaria Takes out Schuldschein Note Loan via German Banks
The Bulgarian government has decided to take out a Schuldschein note loan in the amount of € 360m through German banks, media reports claim.
October 7, 2013
Voestalpine Expects Turnaround
The European demand in steel is increasing. Austrian steel manufacturer voestalpine expects the worst of the crisis for the steel industry to be over.
October 7, 2013
Hungary´s Government: Budget Draft “Risky”
This week, Hungary´s government has submitted the budget draft to the Hungarian Parliament. The basic assumptions are rather optimistic.
October 5, 2013
Political Crisis in Slovenia to Sharpen Further
The power struggle between Prime Minister Alenka Bratusek and Ljubljana´s mayor Zoran Jankovic escalates. Jankovic is said to receive more support from his party.
October 5, 2013
Hungary: Easing Cycle Nears Its End
After the interest cut last week, there is still downward potential. However, MNB must be cautious, Hungary´s rate setter Gyula Pleschinger told WSJ.
October 4, 2013
Romania: Recovery Depends on External Factors
Thanks to foreign demand and foreign investors, Romania´s economy accelerates. However, domestic demand is still the country´s weak point.
October 4, 2013
Sevelda: Not the Right Time for Capital Increase
In an interview with Financial Times (FT) Karl Sevelda, CEO of RBI, states that a capital increase would be difficult at the moment due to an unfavorable economic environment.
October 4, 2013
Wifo: Austrian Economy Sees Upturn
Today the Austrian Institute for Economic Research (Wifo) has released its prognosis for 2013 and 2014. The institute sees the first signs of an economic recovery.
October 4, 2013
Bulgaria: Shrinking Workforce Leading to Lower Growth
Bulgaria is facing a number of challenges resulting from shifting demographics.
October 4, 2013
Keuschnigg Advises Austria to be Patient
According to Keuschnigg it was not possible to increase the core capital quota of the banks to the level necessary or to reduce public debts by 120 percent in two years only.
October 4, 2013
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