Austrian Economic Policy News and Analysis
Read the latest headlines about policies and laws influencing the business and investment environment of Vienna and Austria
Fekter Against Property Taxes
The Austrian Minister of Finance Maria Fekter (ÖVP) would support an income tax reform. Property taxes would not be acceptable, she says.
September 29, 2012
Stronach Calls For 25% Flat Tax
The Austrian industrial and new party leader Frank Stronach wants a radical tax reform.
September 29, 2012
Sale of Kommunalkredit: First Offers Expected
The nationalized Austrian bank should be sold until June 2013. Next week, the first non-binding offers are expected.
September 29, 2012
Serbia Expects Rising Tax Intake
In order to meet demands of IMF, the Serbian Parliament approved the revised 2012 budget. The tax intake will not solve the country´s problems, economists consider.
September 29, 2012
Czech Deficit in 2013 at 2.9% of GDP
The Czech Government presented the budget bill for 2013. The Maastricht Criteria should be fulfilled.
September 29, 2012
Austrian Public Debt at 75% of GDP
Public Finances 2011: Public deficit at 2.5%, Public debt at 72.4% of GDP. In the first half of 2012, Austria´s public debt level grew by € 6bn.
September 28, 2012
Telekom Austria Aims to Expand in Southeastern Europe
Despite the decreasing sales and earnings, Telekom Austria sees substantial growth opportunities in the SEE region. Regarding the earnings situation, Ametsreiter expects a trend reversal.
September 28, 2012
Klaus: Exit Will Not Destroy Eurozone
The Czech President Vaclav Klaus says that a reduction of the member states will not destroy the Eurozone.
September 27, 2012
Austrian Central Bank Looks for New Governor
Next year, the mandates of the board of directors are expiring. Ewald Nowotny is said to be re-elected in his current position.
September 27, 2012
Czech National Bank Expects More Interest Rate Cuts
The governor of the Czech National Bank Miroslav Singer explained that the monetary easing program will continue.
September 27, 2012
Poland Continues Austerity Program
Today, the Polish Ministry of Finance has issued the government´s final budget bill for next year. The budget deficit is estimated to shrink slightly. Poland´s GDP Expected to Grow by 2.2% in 2013.
September 27, 2012
Slovenia “No Bail-Out Candidate”
Slovenia ´s former Prime Minister Anton Rop is optimistic that the country will manage the crisis.
September 27, 2012
Anzengruber: „Withdrawal from Turkey is no Issue Yet“
Wolfgang Anzengruber, CEO of the Austrian energy company Verbund, emphasizes that Turkey is a future market.
September 27, 2012
Spindelegger: "Political progress more urgently needed than ever before"
Austria´s Minister of Foreign Affairs meets President of the Palestinian National Authority Abbas and the Foreign Ministers of Tunisia and the United Arab Emirates in New York.
September 27, 2012
Stronach Founds New Party: „Historical Event“
The former CEO of the Canadian automotive group Magna has presented his new party “Team Stronach” today.
September 27, 2012
Serbia Asks China for Loan
The Serbian Minister of Finance Mladjan Dinkic asked the Chinese Exim Bank for a € 850m loan in order to realize construction projects. IMF is not satisfied with Serbia´s austerity policies yet.
September 26, 2012
Banking Package: Austrian Opposition Criticizes Government Sharply
Today, the Austrian Audit Court explained that costs may reach up to € 4.8bn.
September 26, 2012
Hungary: Simor Criticizes Interest Cut
The governor of Hungary´s National Bank Andras Simor warns of an increase in inflation.
September 26, 2012
Dacic: „Reforms, Attracting Investments and Starting EU Integration“
The Serbia Prime Minister Ivica Dacic underlined that the government will implement reforms in order to stop the economic crisis.
September 26, 2012
Hungary „Still Obtains Funding from the Financial Market“
Vince Szalay-Bobrovniczky, the Hungarian ambassador in Vienna, emphasized that Hungary is not dependent on the IMF loan. The IMF urges Hungary to reduce its bureaucracy, he says.
September 26, 2012
Latvian Government Intends to Join the Eurozone in 2014
Despite the skeptical citizens of Latvia and the crisis in the Eurozone, the Latvian government wants to introduce the euro in 2014.
September 26, 2012
Crucial Days for Slovenia
This week, Slovenia´s Parliament may decide on establishing a bad bank. After Prime Minister Janez Jansa warned of a national bankruptcy, the Slovenian opposition is under pressure.
September 26, 2012
Banking Package: Costs up to € 4.8bn
The Austrian Audit Court expects that the banking package will be much more expensive than it was said before. Moreover, the Audit Court criticizes the government massively. The control mechanism would be too weak.
September 26, 2012
Austria´s Finance Minister Delighted at Positive Moody's Rating
Maria Fekter: “Our Triple A confirms the reform path we have embarked upon.”
September 26, 2012
“European Union Not Endangered”
Austrian Vice-Chancellor Michael Spindelegger defends the euro at the renowned US university Harvard and emphasises Austria’s performance on the international stage
September 26, 2012
OMV Considers Joining Tanap
The Austrian oil and gas company intends to invest up to $ 7.0bn in the Turkish-Azeri project.
September 25, 2012
Poland: Joining Eurozone After Crisis
For the governor of the National Bank of Poland Marek Belka, entering the Eurozone is conceivable as soon as the Eurozone has recovered.
September 25, 2012
Austrian Employment Growing Moderately Until 2016
The Austrian economic research institute WIFO forecasts that 173,000 new jobs will be created until 2016.
September 25, 2012
Austrian Tax Deal with Switzerland Wobbles
The citizens´ movement in Switzerland has collected enough signatures in order to hold a popular vote on the tax deal with Austria.
September 25, 2012
Austrian Experts Urge for Pension Reform
According to experts, Austrian citizens should postpone their retirement by four to five years.
September 25, 2012
Austrian Elections 2013: Stronach Confirms Candidacy
This week, the former CEO of Magna Frank Stronach will present the program of his party. The name of the party is not fixed yet.
September 25, 2012
EU Calls Bulgaria to Intensify Fight Against Corruption
The European Union recommends Bulgaria and Romania to increase their effort regarding the fight against organized crime and corruption.
September 25, 2012
“EU administration must be screened for savings potential”
Austrian State Secretary Lopatka repeats Austria’s central demands at the General Affairs Council in Brussels.
September 25, 2012
Austria: Corruption on the Rise
Corruption causes damages of € 26bn in Austria. According to a study, 11% of the Austrian interviewees felt affected by corruption.
September 24, 2012
Public Debt: New EU Members Are More Flexible
Compared to old EU member states, the new member states have more fiscal leeway to overcome the crisis.
September 24, 2012
Austrian Federal States and Municipalities Record Massive Rise in Debt
Since 2007, the debt level of Austrian federal states rose by 87%. In the same period, the Austrian Federation´s debt was up by 27%.
September 24, 2012
Macedonia to Stimulate Economic Growth
Due to the recession in the Eurozone, exports are shrinking. Next year, Macedonia will overcome the crisis, the local government says.
September 24, 2012
Austrian State Secretary meets Russian Deputy Foreign Minister Titov in Moscow
Lopatka “Relations with Moscow are rooted in solid ground in all fields and are continuously expanded”
September 24, 2012
Waiglein Becomes Director of ESM
Austria´s Minister of Finance Maria Fekter mandates Harald Waiglein as member of the board of directors.
September 22, 2012
Serbia: „EU Cannot Force Us to Recognize Kosovo´s Independence“
The Serbian Prime Minister is ready to continue talks with Kosovo at a higher political level. For the EU, a recognition of Kosovo´s indepence is the precondition for Serbia´s EU accession.
September 22, 2012
Croatian EU-Accession: Slovenia as Obstacle
Slovenia may put a veto on Croatia´s EU accession. Croatia should withdraw lawsuits against the biggest Slovenian bank NLB, Slovenia says.
September 22, 2012
Serbia Attempts to Stop Rise in Public Debt
The Serbian government aims to achieve a balanced buget in 2014. Austerity measures should be sharpened.
September 22, 2012
Latvia: Introduction of the Euro Wobbles
The majority of the Latvians are against joining the Eurozone. The Latvian government is under pressure.
September 22, 2012
Poland´s Central Bank Retains Interest Rate
The Polish Monetary Policy Council held the base rate flat. Before, an interest rate cut of 50 bps or 25 bps were discussed.
September 22, 2012
Bulgaria Aims to Join the Eurozone
Ivan Iskrov, governor of Bulgaria´s National Bank explains that entering the Eurozone would be a long-term priority for the country.
September 22, 2012
Serbia to Privatize Publicly Held Companies
In order to reduce the budget deficit, the Serbian Minister of Finance Mladjan Dinkic plans to sell a part of the state-owned companies.
September 22, 2012
EU: Germany Biggest Net Payer, Poland Biggest Net Recipient
In 2011, Poland received EU-aids of € 11bn. Among the new EU members, Hungary ranks second. In terms of GDP, Hungary is the biggest beneficiary.
September 21, 2012
Breuss: „We Must Feed Them All“
The Austrian economist expresses his concerns regarding the second package for Greece.
September 21, 2012
Slovenia Creates Bad Bank
The Slovenian government aims to lower risky assets of the financially stricken banking sector. A major capital increase may be necessary.
September 21, 2012
Austria Claims Financial Transaction Tax
State Secretary Lopatka presents Austria’s positions to EU Commissioner Lewandowski.
September 21, 2012
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