Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Austrian Banking Package: Major Burden for Taxpayers
In total, the banking package has caused costs of more than € 6.4bn. Austrian taxpayers must expect further costs.
July 19, 2013
Bulgaria: South Stream Offers 6,000 New Jobs
South Stream Bulgaria´s CEO Georgi Gegov stresses the economic effect of the new gas pipeline from Russia to Western Europe.
July 18, 2013
Serbia to Invest in Renewable Energy
The Balkan country wants to invest more than € 10bn in its energy production. The focus will be on renewable energy.
July 18, 2013
Erdogan Attacks Banks
Turkey´s Prime Minister wants to strengthen his fight against the over-indebtedness of private Turkish households. According to Erdogan, banks are responsible for the unfavorable situation.
July 18, 2013
Russian Economy Shows Insufficient Diversification
The Russian economy is primarily based on commodities, economists at the Moscow Higher School of Economics report. In the medium term, Russia has no growth potential, the experts say.
July 18, 2013
Poland Tries to Manage Fiscal Balancing Act
On the one hand, Poland´s government wants to keep an eye on the Maastricht Criteria. On the other hand, the economic growth would shrink even more without a fiscal stimulus.
July 18, 2013
Turkey Considers Economic Re-Orientation
The Turkish government wants to shift its economic focus from Europe to Asia.
July 18, 2013
Turkey Suffers from Massive Capital Outflow
Due to the mass protests and the sharp political reactions, investors became suddenly much more cautious.
July 17, 2013
Polish Government to Leave Austerity Path
In order to boost Poland´s economic growth, the government wants to ease the fiscal discipline.
July 17, 2013
Austria Stresses Importance of Agency for Fundamental Rights
"EU Agency for Fundamental Rights in Vienna plays a central role in the monitoring of fundamental rights."
July 17, 2013
CNB Expects Croatian GDP to Contract Remarkably
The Croatian National Bank forecasts a GDP decline of 1.0% in 2013.
July 17, 2013
Spanish and Polish Prime Minister Support EU-US Free Trade Agreement
On the occasion of a state visit in Madrid, Poland´s Prime Minister Donald Tusk declared that the free trade agreement between the U.S. and the EU would be a driver for economic growth. The EU must strengthen its energy strategy, Tusk said.
July 16, 2013
Poland: Economic Upswing not before 2014
Poland´s National Bank NBP expects that the country´s economic performance will not improve visibly this year.
July 16, 2013
„Austrian Banking Sector Still Weakly Capitalized“
Austrian National Bank (OeNB) criticizes that the domestic banking sector did not improve the equity base sufficiently.
July 16, 2013
IMF to Leave Hungary
Hungary´s National Bank MNB has called the IMF to close its representative office. Hungary wants to repay the loan facility provided by the IMF soon.
July 16, 2013
Austrian Population Increasing Only Because of Migration
Austria's Population rose in 2012 by about 43 700 people. Without migration, Austria would shrink. About 140,000 people are moving to Austria and 100,000 people are leaving the country year by year.
July 16, 2013
ExxonMobil Signs Agreement with Ukrainian Government
ExxonMobil regards 45bn cubic meters of gas production realistic.
July 15, 2013
Poland: State Companies to Submit to Further Control
Poland to enhance supervision over state companies in the energy sector.
July 15, 2013
RBI Plans on Reconstructing Branch Banks
The new concept of Karl Sevelda, successor of former CEO Herbert Stepic, is becoming clearer. He has inherited the task to reconstruct the capital of Basel-III.
July 15, 2013
Fekter: Horror Figures with Hypo’s Restructuring Plan.
The restructuring plan for Hypo Alpe Adria involves several scenarios, which Finance Minister Fekter does not want to mention. The “horror figures” tax payers are burded with are set up “in an apocalyptical way”, according to her.
July 15, 2013
Austrian GDP Growth Above European Average
In 2012, Austria saw a growth of GDP of 0.9 percent which is signifantly above the European average.
July 12, 2013
Turkey: BIST Formed Partnership with US NASDAQ
Turkey's Borsa Istanbul (BIST), one of the most profitable stock markets in the emerging world, has formed a strategic partnership deal with the US-based NASDAQ OMX Group, the owner and operator of NASDAQ stock market.
July 12, 2013
Czech Republic: Gloomy Prospects for Economy
The Czech economy is shrinking. According to experts, new Prime Minister Jiri Rusnok will not be able to change much. Enterprises have started to cut back on investments.
July 12, 2013
Serbia to Invest € 10bn in Energy Sector
Serbia will invest € 10 bn in the development of the energy sector in the next eight years.
July 12, 2013
OMV Petrom Sold Subsidiary
OMV Petrom sold its subsidiary Petrom Distribuţie Gaze SRL.
July 11, 2013
Russia to Support Serbia Financially
Russian government paid $300 million of financial support to the budget of Serbia.
July 11, 2013
Russia to Reduce Oil Export
Russia produces more oil which is increasingly used in the country itself. Refineries outside of Russia do not fear immediate bottlenecks in the supply of oil.
July 11, 2013
Poland: Gowin Wants to Become Next Prime Minister
Conservative party member of PO Gowin is the sole challenger to Tusk for the position as party leader.
July 11, 2013
Fekter: Capital Aids for Hypo Included in Next Budgets
Finance Minister Maria Fekter sticks to it: „We will reach a zero deficit in 2016 and have a slight surplus in 2017,”she announced during the presentation of the economic report 2013 on Wednesday.
July 11, 2013
Austria: EVN Hits Brakes with Expansion of Solar Energy
The fast expansion of solar electricity in the province of Lower Austria is straining the power supply system. EVN is therefore limiting the power supply for some projects. Plant operators are infuriated.
July 11, 2013
Dispute about Ina in Hungary and Croatia Escalates
The Croatian prosecution is once more investigating due to bribe payment to former Prime Minister Sanader. Head of Mol, Hernadi, is faced with a possible detention order.
July 11, 2013
Austrian Economy Dependent on Neighbor Countries
Austria’s economy is getting through the crisis better than the Eurozone. However, the country owes this partly to neighboring countries.
July 11, 2013
Slovenia Can Afford Bank Sector Cleanup Itself
Slovenia intends to use its own funds and avoid having to ask the Eurozone or IMF for aid to restore the stability of its banking sector, said the country's finance minister Uros Cufer.
July 10, 2013
Austria: Rumors about Fekter Resigning as Finance Minister after Elections
Will Fekter become President of the National Council after the elections? In government circles speculations are circling about Finance Minister Fekter quitting her post as after the national elections in September.
July 10, 2013
IMF Downgrades Growth Prognosis for Eurozone
According to the International Monetary Fund (IMF), the prospects of growth in the Eurozone are still positive. However, they are not as good as in April. Germany and Austria are concerned as well.
July 10, 2013
Russian Car Market to Get New Lift
The number of sales of new cars in Russia has declined 11 percent. This is the fourth month in a row showing declines, according to the figures of the Accociation of European Businesses (AEB).
July 10, 2013
Turkey: Gezi Protests Claim Fifth Life
A 19-year-old, who was seriously injured during the protets against the government in Turkey, has died in hospital. The number of fatalities has now risen to five, according to press agency Dogan.
July 10, 2013
Alpine Bankruptcy Hits Clients Hard
According to real estate experts problems for home builders have just started.
July 10, 2013
New Czech Government Sworn In
Czech President Milos Zeman has announced the new government of Prime Minister Jiri Rusnok on Wednesday and sworn in. The team of 15 mostly independent experts replaces the cabinet of Petr Necas, who has stepped back due to a corruption scandal.
July 10, 2013
Spindelegger: Fitness Program for Austria
Austrian economy supposed to be boosted by reforms of “Unternehmen Österreich 2025, and a rejection of new taxes.
July 10, 2013
Poland: Measures to Increase Employment
The polish government approved a package of measues becoming effective by 2014 to improve the situation on the labor market.
July 10, 2013
Serbia: Fight against Unemployment Key Aim of Government
Serbia's Government aims to cut down unemployment to below 20 percent and tries to attract new investors.
July 9, 2013
Slovenia’s Banking Sector Threatened by Delay of Bad Bank-Transfers
After the EU Commission denied approval for the first transfers of bad loans to the bank asset management by June 28, the reorganization of the banking system in Slovenia has been postponed.
July 9, 2013
Gazprom Runs Risk Of Losing Leading Position
Currently, only state-controlled energy giant Gazprom is permitted to export gas. Due to cooperations with French Total and Chinese enterprises, Moscow now intends to open the market.
July 9, 2013
Latvia: Joining the Eurozone
Lativa is becoming the 18th country in the Eurozone. The EU Economy and Finance Ministers have given their green light for the admission.
July 9, 2013
Alpine Holding to be Shut Down
The closing down of Alpine Holding is only a “formality”. According to Österreichischer Verband Creditreform (ÖVC), a credit protection association, “a restructuring of the debtor is not planned and not possible”.
July 9, 2013
Fekter: Eurozone More Stable Than A Year Ago
Austrian Finance Minister Maria Fekter has described the condition of the Eurozone as “better” than compared to a year ago.
July 9, 2013
Poland: NBP Downgrades Forecasts for GDP and CPI
The National Bank of Poland (NBP) downgrades GDP and CPI forecasts over next two years.
July 9, 2013
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