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Austria and Hungary - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism

Hungary: Foreign Trade Goes Down

In November, export and import volumes decreased by 4.3% and 4.6%, respectively, compared to the same month of the previous year.

February 1, 2013

Hungary: Lending Declines

Household and non-financial corporate sector interest rates: December 2012.

January 31, 2013

Hungary: Unemployment Stagnates

In the 4th Quarter 2012, the number of unemployed people was 468 thousand resulting in an unemployment rate of 10.7%.

January 31, 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

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

Hungary: More People in Work than in 2012

In the 4th Quarter 2012, the number of employed people was 3,909 thousand, 58 thousand more than a year ago. The employment rate of both men and women improved.

January 29, 2013

IMF Criticizes Hungarian Government

According to IMF, the economic outlook for Hungary is rather gloomy.

January 28, 2013

Nabucco Pipeline Is Taking Shape Slowly

The natural gas pipeline commences Front End Engineering and Design services for Nabucco West project.

January 28, 2013

Bayerngas Leaves Nabucco

The German natural gas company does not want to join the pipeline project.

January 28, 2013

“Germany overestimated, USA and China underestimated”

Trade with USA and Italy just as crucial for Austrian economy as trade with Germany, Bank Austria reports. "Made in Austria" products count for above-average proportion of Austrian exports.

January 26, 2013

Erdogan to Visit Hungary

Turkey´s Prime Minister will come to Hungary in February.

January 26, 2013

Hungary: Real Wages Declining Persistently

In the first eleven months of 2012, real wages of Hungarian workers was down by 3.5%.

January 26, 2013

Hungary: Retail Trade Shrinks Significantly

The volume of sales in retail trade decreased by 4.1% in November.

January 25, 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

IMF: Growth in CESEE Region to Accelerate

In the next three years, economic growth rates in central, eastern and southeastern Europe will return to the pre-crisis level, IMF says.

January 23, 2013

Erste Group´s CEO Wants to Create CESEE Stock Exchange

Andreas Treichl, CEO of the Austrian banking group, would like to create an alliance between CEE Stock Exchange Group (CEESEG) and Warsaw Stock Exchange (WSE).

January 23, 2013

Rostowski Calls for Further Interest Cuts

Polish minister of finance Jacek Rostowski wants NBP (Polish National Bank) to lower the base rate further.

January 21, 2013

Hungary: Production of Main crops Decreases Sharply in 2012

In 2012, 25% less cereals were produced on a 2% larger area than in the previous year.

January 21, 2013

Hungary: Gross Earnings Grow Moderately.

Last year, gross earnings were up by 4.6%. As Hungary´s inflation rate comes at 5.7%, real earnings are still shrinking.

January 18, 2013

Hungary Wants Tax Treaty with Switzerland, Germany and Austria

Hungary tries to levy a lump sum tax on deposits of Hungarian nationals in Switzerland, Germany, Austria, the UK and Cyprus.

January 17, 2013

Hungary: Construction Output Decreases

In November 2012, construction output was down by 11.7% on the high base a year ago.

January 17, 2013

Hungary: Poverty Grows Dramatically

More than 33% of Hungary´s citizens are at risk of poverty. Among the EU countries, Hungary ranks fifth.

January 16, 2013

EU: Romania and Hungary Have Highest Inflation Rates

Euro area annual inflation stable at 2.2%, Eurostat says.

January 16, 2013

Hungary: Sharp Decrease in Industrial Production

In November 2012, industrial gross output declined by 6.9% in volume compared to the same month of 2011.

January 16, 2013

Erste Group: Austerity Cuts Also in Austria

After sharp austerity measures in Romania and Hungary, the banking group wants to reduce personnel costs in Austria.

January 15, 2013

Stepic: „CESEE Region Faces Challenging Year“

RBI´s (Raiffeisen Bank International) CEO Herbert Stepic explained that central, eastern and southeastern Europe is still Europe´s growth engine.

January 15, 2013

Hungary Has Highest Inflation Among EU Members

In December consumer prices increased by 5.0% compared to December 2011. I

January 15, 2013

CESEE: Chakrabarti Expects Stabilization

In an interview with the Austrian news magazine „Standard“, EBRD´s President Suma Chakrabarti demonstrates cautious optimism. 2013 will be a better year for the CESEE region, he says.

January 14, 2013

Fitch: Austrian Banking Industry Depends on CESEE

According to the U.S. rating agency, the situation of Austrian banks strongly depends on the development in central, east and southeast Europe.

January 14, 2013

First Signs of Economic Recovery

Liquidity is driving the markets, global monetary policy remains heavily expansive. Muted growth outlook for CEE.

January 10, 2013

Hungary Suffers from Capital Outflow

Hungary´s banking industry faces a substantial loss of confidence. More and more Hungarians shift their deposits to foreign banks.

January 9, 2013

Central Europe's Relations With the U.S.

Philip H. Gordon from the Bureau of European and Eurasian Affairs at the U.S.-Central Europe Strategy Forum, Center for European Policy Analysis (CEPA) in Washington, DC remarks on the issue of U.S. relations with Central- and Eastern Europe as follows.

January 9, 2013

Foreign Trade With Hungary Shrinks

External trade in goods showed a surplus of € 704 million in November. Exports and imports fell by 1.7% in 2012.

January 9, 2013

Hungary: Negative Development in Industrial Sector

In November 2012 – according to preliminary data – industrial gross output declined by 6.9% compared to the same month of 2011.

January 8, 2013

Hungarian Opposition Optimistic to Come to Power in 2014

Hungary´s opposition leader Attila Mesterhazy seems to be convinced that Prime Minister Orban will be replaced in 2014.

January 8, 2013

“2013 will be a better growth year for CEE than 2012”

Unlike 2012 the new year starts with much less financial stress and easier monetary policy. Central and Eastern Europe has still considerable potential to outperform EMU, differentiating on domestic policies, Bank Austria says.

January 7, 2013

CESEE: Economy Slows Down Further

CEE macro downturn to hit trough in Q1 2013; forecast GDP growth 2013: Poland 2.2%, Slovakia 1.3%, Romania 1.1%, Erste Group says.

January 7, 2013

CESEE Equity Market: Upside Trend after Slow Start

Country allocation: An overweight on Russia is a strong bet for the coming quarter and mostly based on liquidity searching for an option after Turkey performing so strongly, Erste Group says.

January 7, 2013

Hungary: No Mandatory Voter Registration

The Hungarian Constitutional Court rejected the law proposed by the government.

January 5, 2013

CESEE: Construction Industry Shrinks Further

The European research institute Euroconstruct expects a negative development for the construction industry in the CESEE region.

January 5, 2013

Hungary: Unemployment Rate Unchanged

In September–November 2012, the number of unemployed people was 468 thousand resulting in an unemployment rate of 10.6%.

January 4, 2013

Hungary: 55,000 More People in Work

In September–November 2012, the number of employed people was 3,925 thousand, 55 thousand more than a year ago. The employment rate of both men and women improved.

January 4, 2013

Hungary: Dissatisfaction Grows

More than the half of the Hungarians is dissatisfied with the country´s government.

January 3, 2013

Hungary: Public Deficit Declines

The deficit of the general government sector fell by 3.1 percentage points in the 3rd quarter of 2012.

January 3, 2013

Automotive Industry in CESEE Region Booms

According to an analysis issued by Austrian Erste Group, every fourth car produced in the EU in 2013 will be "Made in CEE".

December 28, 2012

Austrian Purchasing Power Abroad Shrinks

For Austrians, Hungary and Croatia still leading the list of top destinations. The Holiday euro is worth slightly more in many Eurozone countries than in Austria.

December 28, 2012

Hungarian Government „Do Not Need Help from IMF“

Hungary´s Minister of Economics György Matolcsy argues that his country has never needed a loan from the IMF.

December 22, 2012

Hungary: Foreign Trade Grows Sligthly

Export and import volumes grew by more than 5% in October. In the first ten months, exports were up by 2.4%.

December 21, 2012

CESEE: Deposit Growth Slows Down

Given the sketched regional loan growth dynamics and their most important drivers it comes as no surprise that deposit growth rates in CEE also decelerated in recent months, Raiffeisen Research states.

December 21, 2012

CESEE: Airline Industry in Severe Crisis

The airline industry in East and Southeast Europe faces enormous difficulties. Not only Polish LOT needs immediate help.

December 21, 2012