Poland in Austria | Poles in Vienna | Bilateral Relations

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

CESEE: Massive Capital Outflow

In the second half of 2011 and in the first half of 2012, foreign banks withdrew about € 55bn from the region.

November 14, 2012

CA Immo Expands in Warsaw

“Continuing success for largest Polish property development.” The Austrian property company will complete project before the end of the year.

November 14, 2012

New Record for Bilateral Trade Between Poland and Austria

Christoph Leitl, President of the Austrian Chamber of Commerce underlines the close and friendly relationships between Poland and Austria.

November 8, 2012

Polish National Bank Cuts Interest Rate

In order to support economic growth, NBP decided to ease its monetary policy.

November 8, 2012

CEE Deleveraging Remains Moderate

Austrian, German and Italian banks kept lending to CEE6 (except Hungary) relatively stable. Shifts in foreign capital structure and allocation from private to public sector might pose risks to future growth.

November 8, 2012

Latvia Has Best Growth Prospects

Today, the EU Commission has announced its economic forecast for 2012. Austria is among the economically stable countries.

November 8, 2012

CESEE: Business Climate Deteriorates

According to OeKB (Austrian Clearing Bank), the economic sentiment in Southeastern Europe is declining. Poland remains the growth engine.

November 7, 2012

Poland: Lending Criteria to Tighten

According to the Polish National Bank (NBP), banks will tighten lending conditions further. NBP wants to support economic growth, but has to prevent a credit bubble.

November 6, 2012

Rostowski: Poland´s Economic Slowdown “Only Temporary”

Regarding the medium-term economic development, the Polish Finance Minister Jacek Rostowski proves confidence.

November 2, 2012

EU Budget Cuts would Affect Poland

In the last six years, Poland benefitted substantially from EU funds. A cut of € 23bn is being discussed.

October 30, 2012

Poland: Real Wages are Falling

Due to the persistently high inflation rate, real wages have fallen for the first time in 20 years.

October 29, 2012

Saving in CEE Becomes More Important

Poles and Slovaks are CEE's savings champions, putting aside 15% resp. 12% of their monthly income. Austrians, Germans and Czechs follow suit with 9%.

October 29, 2012

Poland: Calls for Interest Cut Become Louder

The Polish economic growth flattens. NBP´s council member Andrzej Rzonca wants the interest rate to be cut.

October 25, 2012

“Poland is Safe”

Despite the economic slowdown, the Polish Minister of Finance Jacek Rostowksi says that the country is safe from the economic crisis.

October 24, 2012

VIG Considers Expanding Further

Vienna Insurance Group has cash reserves of € 1.5bn. Now, the insurance group wants to take over some small or medium-sized companies.

October 24, 2012

World Bank: „Poland is a Growth Engine for Eastern Europe“

According to the “Doing Business Report 2013”, Poland´s competitive position has improved remarkably. Austria was up by two ranks.

October 23, 2012

Tusk: Joining Banking Union Only if it Does not Weaken Poland

The Polish Prime Minister does not exclude to enter the banking union. However, this measure must not weaken Poland´s position.

October 22, 2012

Poland Favors Banking Union, Czech Republic is Skeptical

The governor of the Polish National Bank Marek Belka calls for joining the banking union. The Czech Republic may use the right to give a veto.

October 20, 2012

Polish Government: Austerity in Order to Enter Eurozone

The Polish Minister of Foreign Affairs Radoslaw Sikorski says that Poland will fulfill the Maastricht Criteria in 2015.

October 19, 2012

Poland Starts Privatization Program

The Polish government wants to sell state-owned assets worth € 5bn.

October 18, 2012

Porr´s Construction Output Shrinks

The third-largest Austrian construction group records an increase in orders. Porr´s CEO Karl-Heinz Strauss is satisfied.

October 18, 2012

Stepic: “Must Reduce Lending in CESEE”

The CEO of Austrian RBI (Raiffeisen Bank International) Herbert Stepic explains that new lending in Eastern Europe must be reduced substantially.

October 11, 2012

S&P: Eastern Subsidiaries of Austrian Banks Most Become More Independent

The U.S. rating agency criticizes that Austrian banks are still weakly capitalized. The economic crisis caused a massive withdrawal of funds in Eastern Europe, S&P says.

October 11, 2012

Poland´s Budget Deficit “Will Not Be Bigger than Planned”

The Polish Minister of finance Jacek Rostowski stresses that the planned budget deficit will not be higher than PLN 35.6bn.

October 11, 2012

Poland: Almost 2.0 Million Unemployed

In August, the unemployment quota grew to 12.5% from 12.4%.

October 8, 2012

Poland: Long-Term Unemployment Becomes Problematic for State Budget

According to the consulter Deloitte, Poland is losing billions because of the long-term unemployment.

October 6, 2012

Poland´s Komorowski: “Strong Swiss Franc Causes Problems”

On the occasion of a visit in Switzerland, the Polish President Bronislav Komorowski explained that the strong Swiss franc is a problem for both countries.

October 5, 2012

Working Time: Brits and Austrians Work Most

Regarding the weekly working time, Austria ranks second. The share of employees working in the service industry is slightly below the EU average.

October 5, 2012

CEE Countries Must Work Upon Economic Convergence

CEE countries are struggling with weaker external demand and uncertain consumers, whereas in most cases fiscal policy is under control. Labour productivity, costs and competitiveness of CEE region give reason for optimism.

October 5, 2012

Romania: Lowest Importance of Service Sector in EU

Almost 70% of employed persons in the EU27 worked in the service sector in 2011. The scope ranges from 43% in Romania to 85% in Luxembourg.

October 5, 2012

Poland´s National Bank Holds Interest Rate

After analysts expected that the Polish NBP cut the interest rate, the decision to hold the rate at 4.75% came as a surprise.

October 4, 2012

Nine Prime Minister Discuss EU Budget in Bratislava

The Prime Ministers of nine countries of Central and Eastern Europe will meet in the Slovak capital on October 5.

October 3, 2012

Poland to Increase Flexibility of Labor Market

The Polish Ministry of Social Affairs prepares an “anti-crisis-package”.

October 3, 2012

Poland: Interest Cut Expected

The Polish National Bank NBP is anticipated to announce a cut in the base rate. At the moment, the base rate stands at 4.75%.

October 2, 2012

Immofinanz Builds Next Shopping Center in Poland

The Austrain real estate group starts retail development project in Poland. Investments total € 115m.

October 2, 2012

RBI: Poland Shows Stability

In Poland, Raiffeisen Bank International´s NPL ratio comes at 8%. By contrast, Ukraine and Poland are much more problematic.

October 1, 2012

M&A´s: Poland Ranks First Among CEE Countries

According to a study by Ernst & Young Poland ranks 30 among 148 countries.

October 1, 2012

Raiffeisen: CEE Network to be Closed

Austrian RBI (Raiffeisen Bank International) announces that the expansion in Central and Eastern Europe will be concluded soon.

October 1, 2012

Immofinanz Group: Silesia City Center Ranks among the top Shopping Centers in Poland

On 19 September 2012 the Polish Association of Retail Tenants and GfK Polonia Institut published a new ranking of Polish shopping centers. The Silesia City Center was rated first.

September 28, 2012

CEE Equity: RBI Cautiously Optimistic

RBI forecasts a slight increase in yields for Poland, Hungary, Russia and the Czech Republic. Austrian ATX should grow moderately in the next 12 months.

September 28, 2012

CEE Remains Europe’s Growth engine Despite Slow-Down

CEE with 2012 GDP growth of 2.4 per cent – GDP in Eurozone to shrink to minus 0.5 per cent in 2012 . In terms of reforms, CEE tops Eurozone peripherals

September 28, 2012

“No Recession in Poland”

The Polish economist Jan Krzysztof Bielecki is optimistic regarding the development of Poland´s economy.

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

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

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

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

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

Polish Real Income Declining

As the inflation rate is still higher than wage increase, Polish households face a shrinking income.

September 20, 2012

Poland: Standard & Poor´s Upgrades Banking Industry

The U.S. rating agency upgrades the banking sector´s risk score.

September 20, 2012