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Slovakia in Austria | Slovaks in Vienna | Bilateral Relations

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

Hungary Becomes Tax Haven for Czech and Slovak Enterprises

In the last three years, the number of Czech enterprises with head office in Hungary was up by 41%.

September 15, 2012

Slovak Leasing Industry Shrinks

In the first half of 2012, sales in the Slovak leasing market were down by 5%.

September 15, 2012

Slovakia´s Economy Still Performs Well

In the second quarter of 2012, GDP growth came at 2.8% after 3.0% in the first quarter.

September 15, 2012

Austria Second-Largest Investor in Slovakia

Foreign Minister Spindelegger opens new Austrian Embassy premises in Bratislava and underlines the close economic ties between Slovakia and Austria.

September 14, 2012

OMV Sells 15% Stake in CEGH to Slovak Eurstream

The Austrian oil company reduced its share in Central European Gas Hub from 80% to 65%.

September 14, 2012

Slovakia: Declining Construction Production in July 2012

In July, the Slovakian construction output decreased, year-on-year, by 11,2 % to € 459,9m.

September 11, 2012

Slovakia: Increasing Employment in Industrial Sector

The highest salaries were recorded in the IT industry, followed by the manufacturing industry.

September 11, 2012

World Economic Forum: Slovakia´s Performance Worsens

According to the World Economic Forum Competitiveness Report, Slovakia´s competitiveness slipped again.

September 10, 2012

Slovakian Industrial Production on the Rise

Industrial production index (IPI) increased by 18,5 % in July 2012, compared with July 2011. The development was mainly affected by a rise in manufacturing by 22,6 %.

September 10, 2012

Slovakia: Rising Unemployment Despite 2.8% GDP Growth

In the second quarter of 2012, Slovakia´s GDP moved up by 2.8%. The unemployment rate reached 13.6%.

September 6, 2012

Slovakia Records Growing Current Account Surplus

In the first five months of 2012, Slovakia´s current account surplus reached € 1.24bn. Against the reference period of 2011, this is an increase by € 350m.

September 4, 2012

Slovakia: Budget Deficit Reached € 2.67bn

In August, Slovakia´s budget shortfall increased to € 2.675bn from € 2.239bn in July.

September 4, 2012

Austrian Government and National Bank Against Return to Shillling

Federal Chancellor Werner Faymann and Governor Ewald Nowotny oppose to the idea of returning to Austria´s former currency.

September 1, 2012

Goldman Sachs Lowers Expectations for Austrian Banks

The U.S. investment bank anticipates decreasing earnings.

August 27, 2012

Slovakian Unemployment on the Rise

In July, Slovakia´s unemployment quota rose by 0.12 percentage points to 13.27%.

August 21, 2012

Slovakia Aims to Lower Budget Deficit Below 3.0% of GDP

The Slovakian government presented the draft state budget for 2013. The budget deficit should not exceed 2.9% of GDP, the Finance Ministry announced.

August 21, 2012

Slovakia Fights Against Budget Deficit

In order to comply with the EU Stability Pact, Slovakia needs to cut public expenses by € 630m.

August 16, 2012

Hungary: Most Foreign Firms from Austria

In Hungary, foreign companies employ 25% of the workforce. However, the share of foreign companies only reaches 3.3%

August 7, 2012

Slovakia: Rating Confirmed by S&P

The U.S. rating agency Standard & Poor´s reiterates Slovakia´s A/A-1 rating. The outlook is is still „stable“. Slovakia´s labor market data are less promising, however.

August 6, 2012

Erste Group: Concerns Despite Profits

Yesterday, the Austrian banking group published its results for the first half year. The business in Romania, Hungary and Ukraine causes worries.

August 1, 2012

CESEE: Still High Degree of Corruption

According to Transparency International, „political influence over independent institutions is a systemic corruption risk in the Czech Republic, Hungary, Poland and Slovakia“.

July 31, 2012

Poland as CESEE´s Locomotive

This year, the CESEE region should record a growth rate of 1.7%. However, the situation is highly different.

July 25, 2012

Slovakia: Bank Tax Should Reach € 1.0bn

The Slovakian government raised the bank tax up to 0.4% on deposits. Once the tax intake totals € 1.0bn, the tax should be abolished.

July 21, 2012

IMF: New Central and Eastern European Constituency

Austria, Belarus, the Czech Republic, Hungary, Kosovo, the Slovak Republic, Slovenia and Turkey have established a Central and Eastern European Constituency at the International Monetary Fund.

July 11, 2012

Slovakia: Flat Tax to be Abolished

This summer, the Slovakian government will resolve a package of 22 measures in order to fight public debt.

July 10, 2012

Purchasing Power in CEE Region: Czech Republic Ranks First

Among Poland, Slovakia and the Czech Republic, Bratislava records the biggest regional purchasing power. In total, the Czech Republic ranks first.

July 7, 2012

Austria Remains One of the Biggest CESEE Investors

Austria is still an important net investor in Central, Eastern and Southeastern Europe. However, the global importance of the region did not increase.

July 6, 2012

Energochemica Enters the Prague Stock Exchnage

Energochemcia SE officially announced its intention to enter the Prague Stock Exchange (PSE). The company wants to focus on acquisitions of key energy and chemical industry companies.

June 29, 2012

Treichl: „Europe Does Not Need the Euro“

Andreas Treichl, CEO of Austrian Erste Group thinks that the European Union would work very well without the common currency. A common army would be more important.

June 25, 2012

Austria Pushes for Danube Strategy

Together with Germany, Slovakia and Bulgaria, Austria wants to implement a common transport strategy for the Danube.

June 21, 2012

Fischer Has Understanding for Bank Tax in Slovakia

Slovakia wants to introduce bank taxes. Austria´s Federal President Heinz Fischer, who met his Slovakian counterpart Ivan Gasparovic, does not have objections.

June 9, 2012

Massive Gap in Purchasing Power

Purchasing Power Parities 2012: Higher travel costs for overseas destinations; Austrians' purchasing power 40–70% above the level in Slovakia, Czech Republic and Hungary.

May 21, 2012

Vienna Airport Considers Entering at Bratislava Airport

Bratislava Airport starts a request of proposal for airport operations. Vienna International Airport is interested. In Vienna, the third rope will be built in 2016 at the earliest.

April 25, 2012

Alpine: Best Bidder in Slovakia

The Austrian construction company has good prospects to receive a major contract in Slovakia. The contract volume is € 126.3m.

April 18, 2012

Lutz Continues Expansion Program

The world´s second largest furniture house intends to grow in Eastern and Southeastern Europe.

April 7, 2012

FDI: Cautious Optimism in Slovakia

Austrian and German investors are still optimistic concerning Slovakia´s economy. The majority expects a slight acceleration of Slovakia´s economy growth.

April 3, 2012

Frauenthal Expands into Slovakia

The Austrian conglomerate acquires a Slovak sanitary retailer. The automotive segment recovers, CEO Moser says.

April 2, 2012

EStAG Reports Moderate Rise in Earnings

The Styrian energy supplier Energie Steiermark AG could raise revenues by 9.0% to 1.37bn. Operating profits were down, though.

March 30, 2012
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