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Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Romania: Construction Industry to Grow by 1.9 Percent
The growth rate in the construction industry is even higher than economic growth in real terms.
September 12, 2013
Hungary: Monetary Easing Policy to be Continued
Hungary´s National Bank MNB has decided to extend the “lending for growth” program until 2014. In total, the program´s volume comes at € 7.0bn.
September 12, 2013
Hypo Group Needs up to € 17bn
The scenarios for the nationalized Austrian banking group become even more pessimistic.
September 12, 2013
Austria: Enormous Amounts Could Pile Up For Hypo Group
According to Austrian daily “Standard“, the winding down of the ailing bank Hypo could be even more expensive than assumed so far. The amount of required capital reanges between € 6.2bn (until the end of 2014) and € 17bn (until 2017).
September 11, 2013
Schieder: IMF Confirms SPÖ-Claims
State Secretary for Finances, Andreas Schieder regards the demands by the International Monetary Fund (IMF) as a confirmation of those by the Social Democrats (SPÖ).
September 11, 2013
Turkish Airlines Not Interested in Croatia Airlines
The Turkish airline carrier has denied rumors of acquiring states at Croatia Airlines.
September 11, 2013
Slovenia: Employment Outlooks Deteriorated
Outlooks for Slovenian jobseekers have darkened. According to a recent survy of temporary employment company Manpower presented on Tuesday, employment outlook has dropped from 7 percent to zero.
September 11, 2013
Romania: Chinese Investors to Support Infrastructure Projects with € 3bn
According to the Romanian Infrastructure and Foreign Investments Department (DPIIS), investors from China will support the construction of new highways and electricity generating power plants in the amount of more than € 3bn.
September 11, 2013
Austria: Spindelegger Confident About Becoming New Chancellor
The intense elections campaign for the Austrian People’s Party (ÖVP) has officially started on Tuesday. Deputy Chancellor and party leader Spindelegger promised more jobs and housing space.
September 11, 2013
IMF: Praise and Criticism for Austria
According to the IMF´s country report, Austria´s main problem is the fiscal situation.
September 11, 2013
VIG: Downsizing Business in Italy
Donau Versicherung, affiliate of VIG, has to make provisions in the amount of € 35m.
September 10, 2013
Turkish Dogus Group Not Interested in Hypo Alpe Adria
A high-ranking representative of Turkish Dogus Group denied that the corporation was interested in taking over Austrian bank Hypo Alpe Adria. In an interview with “Wall Street Journal” he claimed there had been no negotiations with Hypo.
September 10, 2013
Czech Republic: One Third to Vote for CSSD
According to a poll, 28 percent of Czechs would vote for the Czech Social Democratic Party (CSSD) if an election was held now.
September 10, 2013
Turkey: Strong Industrial Production at Start of Q3
Turkey saw a strong industrial production at the start of the third quarter, according to official data, which gives hope for an improved economic growth as the country is facing more and more economic difficulties.
September 10, 2013
Austria: Weak Growth Impulses
Today, the Austrian Institute for Economic Research (Wifo) has corrected the economic outlooks for Austria downwards. Growth impulses have been very weak so far.
September 10, 2013
Poland: Unemployment Dropping Slightly
The number of registered jobseekers decreased in August.
September 10, 2013
Faymann Underlines Necessity of Property Taxes
Austrian Chancellor Werner Faymann (SPÖ) calls for new taxes. In total, property taxes should bring tax revenues of more than € 2.0bn.
September 9, 2013
Orban on Foreign Banks: „Colonization is Over“
Hungary´s Prime Minister Viktor Orban emphasizes that foreign banks have to pay for foreign exchange loans.
September 9, 2013
Poland: Government Gives Green Light to Budget Draft
The Polish Government has approved the budget plan for 2014 with the deficit gap closing further after a refurbishment of the private pension system.
September 9, 2013
Hungary May Reprogram EU Regional Aid
Hungary is faced with the reprograming of up to 5 percent or a volume of up to € 250m of its current EU regional aid.
September 9, 2013
Slovenia Shuts Down Two Small Banks
In order to ensure the stability of its financing sector, Slovenia decided to liquidate two banks, Factor Banka and Probanka. According to state officials, the step was also taken to avoid international bailout.
September 9, 2013
Romania: West Region to Catch Up Economically
Romania's West Region aims to catch up with its more developed peers in the European Union.
September 9, 2013
TAP: Surveys with Contractors to Begin
Trans Adriatic Pipeline has authorized its contractors to start surveys.
September 9, 2013
Croatia: Record Year in Tourism
Croatia will have a record year in tourism says Minister.
September 9, 2013
Serbia: Plans to Reform Pension System
Serbia plans reform of pension system by year end.
September 9, 2013
Poland: Re-Nationalization of Pension Scheme
Poland takes back the partial privatization of pension system. The re-nationalization does not affect Poland´s sovereign debt rating.
September 7, 2013
Eight Austrian Banks to be Supervized by ECB
The European Central Bank will supervise 130 banks in the Eurozone. 18 German and six Austrian banks will have a new supervision authority.
September 6, 2013
„Demand for Loans Will Grow“
In an interview with „Wirtschaftsblatt“, Vice-President of EIB (European Investment Bank) Wilhelm Molterer indicates that banks may not be prepared for an increasing demand for loans.
September 6, 2013
Romania to Issue New Bonds
Romania plans to generate at least € 1bn from a second bond issue.
September 6, 2013
Hungary: New Threats for Foreign Banks
Hungary´s government is determined to convert foreign exchange loans at the expense of banks again.
September 6, 2013
Croatia: New Trial for Pre-Bankruptcy Settlement
Croatia giving fourth chance to reach pre-bankruptcy settlement.
September 6, 2013
Slovenia: Former Prime Minister Accused of Money Laundering
Former Slovenian Prime Minister Janez Jansa’s image is further tarnished as he is alleged of having paid money to a relative’s bank account.
September 6, 2013
Austria: Spindelegger in Favor of “Creative Model“ for Banks
Deputy Chancellor Spindelegger seems willing to lead open discussions about the extension of bank levies.
September 6, 2013
Serbia: UK Enterprises Likely to Invest in Serbia
70 British companies are interested in investing in Serbia's economy.
September 6, 2013
Another Austerity Package in Austria?
Due to the dismal situation of nationalized banks, the economist Christian Keuschnigg anticipates another austerity package after the election at the end of September.
September 6, 2013
EU Commission Threatens Croatia with Sanctions Once More
EU Commissioner Reding has not yet resolved the issue with Croatia. She announced to expect an easy change of the law.
September 5, 2013
President of Ukraine Presses for Faster Progess
President Yanukovych urges the parliament to adopt laws for a faster progress to the country’s European integration
September 5, 2013
Haselsteiner as Candidate for NEOS
Austrian party NEOS has added former CEO of Strabag Hans-Peter Haselsteiner as top candidate for the parliamentary elections. Haselsteiner has so far supported the party behind the scenes.
September 5, 2013
Serbia's Government Regards Economy as Priority Issue
"Solving economic problems is a priority of the reshuffled government"- Serbian Prime Minister.
September 5, 2013
Eurogroup: Greece Requires Further Aids
Crisis-struck Greece will require further support by Eurozone member countries, according to head of the Eurogroup Jeroen Dijsselbloem.
September 5, 2013
VBAG to Start Selling Process of Volksbank Malta Ltd.
The Austrian VBAG has started the selling process of its affiliate Volksbank Malta Ltd. (VB Malta).
September 5, 2013
Faymann: “Banks Should Pay for Hypo”
Austrian Chancellor Werner Faymann does not consider a new austerity package necessary despite of the threatening billions of Euros for the selling and winding-up of the ailing bank.
September 5, 2013
Polish Central Bank Holds Interest Rate Flat
Poland´s economy begins to recover. NBP leaves the base rate at 2.5%.
September 5, 2013
Lopatka Demands Reform for Austrian Railways
State Secretary Lopatka demands Minister of Infrastructure Bures to tackle the expensive pension system at the Austrian Railways by doing away with privliges for emplyoees in order to unburden tax payers.
September 4, 2013
Slovenian Finance Minister: “Enough Tax Burdens“
On Tuesday, the Slovenian Finance Minister Uros Cufer announced that enough additional tax burdens have been introduced.
September 4, 2013
Alpine: Creditors in Austria and Poland Claim Refunds
Not only the labor market in Austria is burdened but also thousands of creditors have invested in bonds of the construction company and are now facing enormous losses.
September 4, 2013
President Fischer Urges Austria to “Roll Up Sleeves“
In regard to the current election campaigns, the Austrian President Heinz Fischer has urged the parties for joint efforts.
September 4, 2013
Riots before Bulgarian Parliament
Government opponents tried to break through security fences.
September 4, 2013
Austria: Up to € 11.7bn for Downsizing Hypo Group
Years of discussion went by; now the EU Commission has approved the downsizing plan for nationalized Hypo Alpe Adria.
September 4, 2013
Hungarian Government Wants Further FX Debt Reliefs
The government has talks with the Hungarian banking association. In order to de-burden indebted Hungarian households, Prime Minister Viktor Orban wants to reach a debt relief plan.
September 4, 2013
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