Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Serbia Faces Political Crisis
After severe allegations against Prime Minister Ivica Dacic, the Serbian governing socialists reject to hold new elections. The coalition partner still supports Dacic.
February 4, 2013
Poland: Banks Continue to Tighten Lending Policy
NBP Report: In the fourth quarter of 2012, the banks continued to reduce the availability of loans to households and small and medium-sized enterprises. The banks expected demand for housing loans to decline sharply in the first quarter of 2013.
February 4, 2013
Tusk: “Poland Becomes a Full Member of the EU”
Poland´s Prime Minister Donald Tusk, Poland will join the Fiscal Pact. The conservative opposition rejects this step.
February 2, 2013
Austria´s Net Contributions to Brussels to Increase Significantly
At the moment, Austria´s net contributions come at 0.2% of GDP. From 2014 to 2020, the figure may increase to 0.36% of GDP.
February 2, 2013
Hungary: “EU funds to be spent on economic development”
In the 2014-2020 fiscal period of the European Union, Hungary will allocate the 60 percent of EU resources to stimulating growth and the development of the economy,
February 2, 2013
Czech Republic Returns to Growth Slowly
According to the Czech Ministry of Finance, the recovery will be only gradual. This year, GDP is expected to increase by 0.1%.
February 2, 2013
Bulgaria: Deficit Lower than Planned.
The budget balance under the Consolidated Fiscal Programme (CFP) for 2012 is negative, amounting to BGN 350.2 million, or 0.45% of the planned GDP.
February 2, 2013
Schwarzenegger Calls for a “Sexy, Hip” Approach at the Vienna R20 Conference
Arnold Schwarzenegger called for an end to “doom and gloom” environmentalism and more of a “sexy, hip” approach at the Vienna R20 Conference.
February 1, 2013
Croatia: New Difficulties for Banks Ahead
Croatia´s National Bank is said to increase the coverage ratio for non-performing loans.
February 1, 2013
Lower Constraints for Romanian National Bank
Central bank to remain on hold, but room to ease control over liquidity conditions has increased, Raiffeisen Research reports.
February 1, 2013
Orban: „Agreement with IMF Unlikely“
According to Hungary´s Prime Minister Viktor Orban, the IMF tries to put pressure on Hungary.
February 1, 2013
Romania: „Ongoing fiscal consolidation in 2012“
According to Raiffeisen Research, Romania´s public finance begins to improve. However, the budget execution still shows some weaknesses.
February 1, 2013
Fekter: "Our measures are having an effect"
Austrian Finance Minister Maria Fekter pleased regarding preliminary administrative budget deficit.
February 1, 2013
Erdogan Considers Joining „Shanghai Five“
Turkey´s Prime Minister Recep Tayyip Erdogan increases the pressure on the EU. He considers a political re-orientation towards the east.
February 1, 2013
Austria: Budget Deficit Lower than Anticipated
The Austrian federal government's administrative deficit during 2012 was approx. € 7bn. Relative to the budgeted figure of approx. € 11.1bn, this represents a savings of approx. € 4.2bn.
February 1, 2013
Slovakia and Austria to Put more Effort in Coordination for EU Issues
20 years of diplomatic relations between Austria and Slovakia.
February 1, 2013
Czech Republic: Disputes Over Fiscal Pact
In the Czech Republic, the ruling coalition parties do not have a common point of view.
January 31, 2013
Poland to Fulfill Convergence Criteria Gradually
Governor of NBP (National Bank of Poland) Marek Belka argues that the country will not meet all the Maastricht Criteria simultaneously.
January 31, 2013
Poland: Opposition Criticizes Government´s Economic Policy Sharply
Opposition leader Jaroslaw Kaczynski says that the government does not fight against the economic slowdown.
January 31, 2013
ECB Extends Co-Operation with National Bank of Serbia
Today, the European Central Bank (ECB) decided to extend the two-year central bank cooperation programme with the National Bank of Serbia (NBS).
January 31, 2013
Nowotny Underlines Improving Outlook
Ewald Nowotny, governor of Austrian National Bank (OeNB) stresses that not many countries were upgraded by the rating agencies in the last years.
January 30, 2013 · Updated: January 30, 2013; 18:34
OeNB: Austrian Banks Remain Cautious
According to Austrian National Bank, the Austrian banking industry tends to keep the strict lending policy in the corporate banking sector.
January 30, 2013
Slovenia: Corporate Lending Falls Considerably
Due to the difficulties in the Slovenian banking sector, the real economy suffers from a credit crunch.
January 30, 2013
„Whatever Happens to the Euro, Happens to Our Currency“
In an interview with the Austrian daily newspaper “Kurier”, Latvia´s Prime Minister Valdis Dombrovskis explains why Latvia joins the Eurozone. However, the Latvians are not convinced at all.
January 30, 2013
“Operations of Austrian Banks in CESEE Region Are a Success Story“
Regarding the Austrian banking sector, governor of OeNB (Austrian Central Bank) Ewald Nowotny demonstrates cautious optimism.
January 30, 2013
National Bank of Serbia Fights Against Inflation
The asset quality in the banking sector shows first signs of stabilization, Raiffeisen Research reports.
January 30, 2013
Hungarian National Bank Cuts Interest Rate Again
At its meeting on 29 January 2013, the Monetary Council reviewed the latest economic and financial developments and voted to reduce the central bank base rate by 25 basis points from 5.75% to 5.50%, with effect from 30 January 2013.
January 30, 2013
Serbian Budget Deficit Lower than Expected
The government succeeded to achieve the 2012 budget deficit reading below the planned one, Raiffeisen Research reports.
January 30, 2013
Austria: Tax Convention Signed with Liechtenstein
Austria´s Finance Minister Maria Fekter: “A good day for Austria – through fair taxation”.
January 29, 2013
S&P Upgrades Austrian Sovereign Bonds
Finance Minister Maria Fekter on Standard and Poor's upgrade: "We are on the right path and our measures are showing results".
January 29, 2013
„Our Future is Central and Eastern Europe“
Andreas Treichl, CEO of Austrian Erste Group, stresses the importance of the CESEE region and the necessity to become more efficient.
January 29, 2013
IMF Criticizes Hungarian Government
According to IMF, the economic outlook for Hungary is rather gloomy.
January 28, 2013
Rostowski: Poland´s Economy to Recover in Second Half of 2013
Poland´s Minister of Finance expects that the economic slowdown will continue for the time being.
January 28, 2013
Czech Government Rejects New Elections
After Milos Zeman was elected as new President of the Czech Republic, he called for new elections. A change of government would be rather likely.
January 28, 2013
NBU Expects Lower Inflation
The inflation expectations of the heads of Ukrainian enterprises have been low for the third quarter in a row.
January 28, 2013
“Using the location Vienna as a bridge between the EU and Latin America”
Austrian State Secretary calls for cooperation in security issues and sustainable energy at the international organisations headquarters in Vienna.
January 28, 2013
54.9%: Zeman Wins
Milos Zeman will become the next President of the Czech Republic. His rival Karel Schwarzenberg has already recognized his defeat.
January 26, 2013
Austria: Kommunalkredit May Become Even More Expensive
According to experts, the bail-out of the Austrian fully nationalized bank is not managed yet. Austrian taxpayers must expect further capital injections.
January 26, 2013 · Updated: January 26, 2013; 20:24
Czech Republic: Zeman Ahead
Today, the run-off election in the Czech Republic has ended. According to first results, the socialist Zeman ranks first.
January 26, 2013
Lithuania to Join Eurozone in 2015
According to Lithuanian Prime Minister Algirdas Butkevicius, the country will introduce the euro in the medium term.
January 26, 2013
Fekter: “Tax Agreement Reached with Liechtenstein”
Austrian Minister of Finance Maria Fekter: "Another big step in the direction of greater tax equity".
January 26, 2013
"Economic boom in Peru opens up opportunities for closer cooperation"
Great interest in Austrian tourism and urban development expertise.
January 25, 2013
EU Wants Austria to Give Up Bank Secret
Commissioner Algirdas Semeta threatens with a complaint against Austria. According tom him, Austria and Luxembourg are blocking the automatic information exchange.
January 25, 2013
Slovenia: Jansa Rejects to Step Down
Despite the deep political and economic crisis, Slovenia´s Prime Minister Janez Jansa is clinging to power.
January 25, 2013
Poland Sells Shares in PKO
The share in the banking group decreases to 31.9%. Further privatizations are planned.
January 24, 2013
Tax Deal with Liechtenstein: Austria Expects Substantial Tax Intake
Austria and its small neighbor country Liechtenstein will sign a tax deal. The treaty between Switzerland and Austria is a role model.
January 24, 2013
Treichl: „BCR Will be Positive this Year“
Erste Group´s CEO Andreas Treichl thinks that the Romanian subsidiary Banca Commerciala Romania will not record losses in 2013.
January 24, 2013 · Updated: January 24, 2013; 21:58
Slovakia: Public Debt Quota Exceeds 50% of GDP
For the first time since 2000, Slovakia´s public debt level exceeds the 50% threshold.
January 24, 2013
Slovenia: Government Collapses
Yesterday in the evening, the conservative coalition member CL has terminated the co-operation with Prime Minister Janez Jansa´s party SDS. Not only the political situation in Slovenia is precarious, but also the economic outlook is highly uncertain.
January 24, 2013
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