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Western Balkan Countries in Austria | Bilateral Relations
Austria and the Western Balkans as a Region (Albania, Bosnia & Herzegovina, Kosovo, Macedonia, Montenegro, Serbia). See also each country individually.
Southeast Europe Agrees on Growth Strategy
In order to meet the 2020 growth strategy of the EU, the Balkan countries plan to co-operate more closely. Turkey and Bulgaria emphasize their good relations.
December 8, 2012
Hypo Group: Deadline Expires
Today, the first deadline for the sale of Hypo Group´s subsidiaries in Southeast-Europe expires.
December 7, 2012
Serbia: Government Demonstrates Optimism
Serbian Minister of Economics Mladjan Dinkic expects that the country´s exports will grow substantially in the next years.
December 7, 2012
Serbian Government Emphasizes Austerity Policy
Next year, the Serbian budget deficit is expected to come at 3.3% of GDP. Until 2015, the deficit will be lowered further, the government says.
December 4, 2012
Czech Republic: Deposits Grow Substantially
At the end of September, client deposits at Czech banks reached CZK 3,100bn. Compared to September 2011, this is an increase by 8.3%.
December 1, 2012
Serbia: Industrial Data on the Rise
In Serbia, the economic activity and foreign trade grows again, the Statistical Office says.
December 1, 2012
Serbia: Manufacturing and Retail Industry Terminate Recession
As per seasonally adjusted data GDP grew in Q2/12 by 2.1% qoq after falling by 1.9% qoq in Q1/12, finally moving into the positive territory after declining four quarters in a row.
November 29, 2012
Serbia: Exports Decreasing
As per seasonally adjusted data exports fell in August by 0.4% mom (July/12: +2.2% mom), while imports fell by 1.9% mom (July/12: +0.2% mom). Trade deficit in Jan1Aug/12 widened further to € 4.0bn (+12.8% yoy).
November 29, 2012
Serbian Industrial Sector Expands
Surprising summer industry growth, local demand might hold more growth. Real wages grow slightly, Raiffeisen Research states.
November 28, 2012
Serbia: Budget Deficit Soared by 22.4%
This development was supported by sharper expenditures enlargement (+8.0% yoy) while fairly small revenue increase (+5.1% yoy), delivering public debt/GDP to 53.8% in September 2012.
November 28, 2012
Serbia: Real Income Shrinks
In October 2012, salaries and wages per employee in the Republic of Serbia decreased by 3.5% in real terms.
November 26, 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
"Austria remains a reliable partner for Albania on its way towards the EU"
Austria´s Vice-Chancellor Spindelegger at the opening of the Skanderbeg exhibition celebrating the 100th anniversary of Albania's independence and 20 years of Austrian development cooperation in Albania
November 26, 2012
Serbian Government to Raise Corporate Tax
The austerity pressure forces the Serbian government to increase taxes. Serbia´s corporate tax will move from 10% to 15%.
November 20, 2012
Serbia Attempts New Economic Reforms
The Serbian government does not only want to pursue a strict austerity policy. The country aims to become more attractive for international investors.
November 17, 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
Hypo Group Starts Selling Business in SEE
The nationalized Austrian banking group has to downsize drastically. Today, Hypo Group started to put the subsidiaries in Southeastern Europe for sale.
November 6, 2012
Belgrade to Sharpen Austerity Policy
Next year, Serbia reduces the budget deficit from 6.2% to 3.5% of GDP. The Serbian government expects that the economy will recover next year.
October 25, 2012
Albania to Become Official Candidate
The Western Balkan country was recommended by the EU Commission. Serbia and Kosovo must reach a “sustainable solution”.
October 10, 2012
Serbia´s National Bank Fights Against Inflation
Today, the Serbian National Bank raised the base rate from 10.50% to 10.75%. IMF has lowered the economic outlook for Serbia.
October 9, 2012
"Serbia can count on Austria to be its partner"
The Austrian State Secretary encourages Serbia to embark on pro-European course.
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
EU as „Serbia´s Most Important Market“
The U.S. economist Paul Krugman thinks that Serbia´s future is the European Union. The EU is worried about the turn towards Russia.
October 4, 2012
Serbia to Grow in 2013
The Serbian economist Jurij Bajec explained that the Serbian economy will recover next year. Real GDP growth will reach 2.0%, he says.
October 1, 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
Serbia: Bad Loans Declining Slightly
At the end of June, the share of non-performing loans came at 19.5%.
September 29, 2012
Serbian Industrial Production Still Shrinks
According to Raiffeisen Research, the crisis in the industrial sector goes on. Real wages are shrinking.
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
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
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
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
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
Serbian EU Approach Endangered
The Serbian government rejects making concessions to Kosovo. The EU accession may be damaged, however.
September 19, 2012
EVN and Verbund Open the Ashta Hydropower Plant in Albania
The project company “Energji Ashta“ and its owners EVN and Verbund are opening the first section of the Ashta hydropower plant (Ashta I) on the Drin River in Northern Albania.
September 18, 2012
Vienna Insurance Group Becomes Market Leader in Macedonia
After the acquisition of QBE Makedonija, Vienna Insurance Group ranks first in the Macedonian insurance market.
September 17, 2012
INA Underlines Interest in OMV´s Petrol Stations
The Croatian oil group wants to take over the petrol station business of Austrian OMV in Croatia and Bosnia.
September 12, 2012
“A new chapter begins for Kosovo”
Austrian Vice-Chancellor Michael Spindelegger underlined the success of the Ahtisaari UN Office in Pristina .
September 12, 2012
Serbia Lifts VAT Rate
In order to prevent the national bankruptcy, the Serbian government raises the VAT by two percentage points.
September 11, 2012
RWE Agrees to Strategic Collaboration with Serbian Energy Utility EPS
The German energy group has signed a Memorandum of Understanding on further development of energy generation in Serbia. The focus will be on laid on hydropower.
September 11, 2012
Temporary Surplus in Serbia´s Budget
Due to the VAT intake, Serbia faced a budget surplus in July. In June, Serbia recorded a massive deficit.
September 8, 2012
Serbia: Exports Decline, Foreign Deficit Goes Up
According to RCB (Raiffeisen Centrobank), the draught in Serbia is likely to reduce the corn yield exports volumes. The trade deficit rose by 13.6% in June.
September 8, 2012
Serbian Industrial Production Declines
In June, Serbia´s industrial production fell by 4.0% against 2011. The outlook is not promising, RCB says.
September 7, 2012
Takeover of OMV´s Petrol Stations: INA Faces Legal Restrictions
The Austrian OMV Group plans to withdraw from Croatia and Bosnia. The Croatian subsidiary of MOL is interest in OMV´s petrol stations, but may face legal restrictions from a competition law point of view.
September 7, 2012
Serbia´s Current Account Deficit on the Rise
According to RCB (Raiffeisen Centrobank), the current account gap widened in June by 15.6% mom supported by remittances fall (-32.0% mom),
September 7, 2012
Croatian INA Submits Offer to OMV
Austrian OMV sells its petrol station business in Croatia and Bosnia. The Croatian subsidiary of Hungarian MOL has submitted a binding offer.
September 5, 2012
Hypo Group Reduced Capital at Croatian Subsidiary
The Austrian nationalized bank cut the stock capital of the Croatian subsidiary by € 100m.
September 3, 2012
Croatian Crisis Aggravates
For Croatia, the end of the severe recession is not foreseeable. Croatia´s real economy is hit hard, the financial sector suffers from bad loans.
August 31, 2012
Serbian Government Tries Act of Liberation
Serbia´s economy weakens, the outlook is negative. Even a bankruptcy is not excluded anymore.
August 29, 2012
Croatian Labor Market Crisis Deteriorates
Not only the unemployment rate is increasing. Croatia has the third-highest youth unemployment rate in Europe.
August 29, 2012
Croatia Said to Become Part of South Stream Pipeline
Good news for Croatia: Gazprom and Plinacro are said to have agreed on a natural gas pipeline across Croatia. The pipeline may enhance employment and reduce natural gas costs.
August 27, 2012