Austria and Slovakia - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
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Slovakia in Austria | Slovaks in Vienna | Bilateral Relations

Slovakia: Strong Increase in Foreign Trade

In September 2012, compared with the corresponding period last year, the total export of goods increased by 9,6 % to EUR 5 616,6 million and the total import by 7,7 % to EUR 5 277,3 million.

December 7, 2012

Slovakia: Tax Revenues Declining

This year, the Slovak government will record a decrease in tax intake by € 230m. Despite higher tax rates, the trend will continue in the next three years.

December 6, 2012

Slovakia: Unemployment Grows

In the third quarter of 2012, the Slovak unemployment quota was up by 0.5 percentage points to 13.7%. At the same time, employment is growing substantially.

December 6, 2012

Slovak Real Wages Declining

Average monthly wage of employee were up by 1.6% in the 3rd quarter of 2012. The Slovak inflation rate comes at 3.7%. As a result, real wages are shrinking.

December 6, 2012

Slovakia: Economic Growth Still Strong

A year-on-year economic growth was recorded in the SR in the third quarter of this year too, however, the dynamics of the growth moderated at constant prices to 2,1 %.

December 6, 2012

Slovakia: Flat Tax Replaced New Tax Model

After nine years, Slovakia abolishes the flat tax. Corporate profit tax was increased from 19% to 23%.

December 5, 2012

Slovakia: Turnover in Internal Trade Decreasing

In October, the Slovak retail trade sector shrank by 1.8%. The wholesale sector still expands.

December 5, 2012

Slovakia: Pessismism Grows Again

The Slovak Statistical Office published the results of business survey and economic sentiment indicator in November 2012. The economic sentiment confidence indicator has reached the lowest level since December 2008.

November 28, 2012

CESEE: Eurozone crisis and Austerity Push Half of the Region into Recession

Export weakness and suppressed domestic demand will push nearly half of the CESEE region into recession this year, including the Czech Republic, Hungary, Slovenia, and nearly all Western Balkan countries.

November 26, 2012

Slovakia: Economy Slows Down

In the third quarter of 2012, Slovakia´s GDP grew by 0.6%. Compared to the previous quarter, the growth rate remained unchanged.

November 19, 2012

Treichl: Austria Should Cooperate with CEE Countries

Erste Group´s CEO Andreas Treichl thinks that CEE countries and Austria should create a model region in Europe like the Scandinavian countries did.

November 16, 2012

„Greece Has No Future in Eurozone“

The Czech President Klaus thinks that the Eurozone could bear a Greek exit without any problems.

November 15, 2012

Slovak Growth Flattens

Slovakia´s GDP still grows substantially, but slower compared to previous quarters. Employment growth stagnates, though.

November 15, 2012

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

Bank Austria: Subsidiaries in Czech Republic and Slovakia to Merge

Bank Austria´s holding company UniCredit starts a Business Refocusing Program in CEE.

November 13, 2012

Slovakia: Employment and Nominal Wage on the Rise

Employment and average monthly wage in selected sectors of economy in September 2012.

November 12, 2012

Slovakia: Foreign Trade Growing Moderately

Positive foreign trade development in September and over the first nine months of 2012.

November 10, 2012

Slovak Industrial Production Grows Substantially

The Slovak Industrial production index (IPI) increased by 13 % in September 2012, compared with September 2011.

November 10, 2012

Czech Republic to Enlarge Nuclear Energy Production

Until 2014, the Czech Republic wants to double the share of nuclear energy production. The Temelin and Dukovany nuclear power plants will be enlarged.

November 9, 2012

Slovak Bond Yields at Record Low

Erste Group successfully placed € 1.25 bn 12-year benchmark Slovak government Eurobond at record low yield of 3.375%. New issue amassed € 2.1 bn order book across 140 investors.

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

Slovakia: Internal Trade Growing Moderately

The Slovakian retail trade sector is shrinking. The wholesale turnover was up by 2.2%

November 7, 2012

Purchasing Power: Austria Ranks 6

Regarding the purchasing power per head, Austria is significantly above the European average of € 12,802.

October 31, 2012

Czech Republic and Slovakia: Nuclear Power Remains Main Energy Source

The Czech Prime Minister Petr Necas and his Slovak counterpart Robert Fico underline that nuclear energy will remain the future technology.

October 30, 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

Slovak Deficit to Reach 2.9% of GDP in 2013

The Slovak government approved the 2013 state budget. The deficit will be reduced step by step in the next years.

October 12, 2012

Slovakia: Employment and Nominal Wages Growing

The highest wage increase was observed in the manufacturing and automotive industries. Employment was down in the construction sector and grew in the service sector.

October 12, 2012

Alpine Needs Help from Banks

The Austrian construction company faces liquidity constraints. Talks with banks were started already.

October 11, 2012

IMF Issues Optimistic Forecast for Slovakia

According to IMF, Slovakia´s economy will grow by 3.3% this year. However, the forecast had to be reduced compared to the prior forecast.

October 10, 2012

Moderate Growth in Slovak Foreign Trade

Increasing foreign trade development in August and over the first eight months of 2012.

October 9, 2012

Slovakia: Growing Industrial Output, Declining Construction Sector

The Slovak Industrial production index (IPI) increased by 17 % in August 2012 compared to August 2011.The, construction output decreased, year-on-year, by 13,7 %.

October 9, 2012

Flat Tax in Austria?

The Austrian opposition party presented a “fair tax” model. The other parties criticized the proposal fiercely.

October 6, 2012

Czech Republic: Industrial Sector Most Important

Among the EU members, the Czech Republic shows the highest percentage of people working in the industrial sector.

October 6, 2012

Slovakia´s Growth Still Driven by Exports

The industrial sector still shows dynamics. However, government spending and consumption is falling further.

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

ESM: Slovakia Pays € 264m

In October, the Slovak government will transfer € 264m to ESM. This will be the first two installments.

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

Slovakia Abolishes Flat Tax

Because of the austerity pressure, Slovakia gives up its flat tax. The corporation income tax rate increases to 23% from 19%.

October 3, 2012

Slovakia: Budget Deficit Decreased Slightly

Last month, the Slovak state deficit was down to € 2.59bn. In August, the deficit stood at € 2.68bn.

October 2, 2012

Raiffeisen Brand to be Introduced in Slovakia

The Austrian bank will open its first branches in November.

October 2, 2012

Slovak Foreign Trade Activity Growing Remarkably

In 2011, goods in the amount of € 56 959,9m were exported from the Slovak Republic. Compared with 2010, the total export increased by 18%.

October 1, 2012

Slovak Business Atmosphere Aggravates

Results of business survey and economic sentiment indicator in September 2012: mood in the Slovak economy worsens for the fourth time in a row.

October 1, 2012

MOL Announces Massive Investments in Hungary

The Hungarian oil group plans to make investments of € 1.1bn in the next three years.

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

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

Slovakia: Saving Grows Despite Falling Real Income

On average, deposits come at € 4,379. Against 2011, this is an increase by 6.1%.

September 21, 2012

National Bank of Slovakia Adapts GDP Growth Forecast

According to NBS, the Slovak economic growth is expected to reach 2.7%. This is higher by 0.2 percentage points than NBS forecasted in June.

September 19, 2012

Slovak Economic Growth to Slow Down

The Slovak Ministry of Finance cuts the GDP forecast to 2.1% in 2013.

September 18, 2012

Slovakia´s Inflation at 3.7%

In August, the inflation rate reached 3.7% in Slovakia, the Slovak Statistical Office announced.

September 15, 2012