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Budget Deficit

Rostowski: Poland´s Economy to Recover in Second Half of 2013

Poland´s Minister of Finance expects that the economic slowdown will continue for the time being.

January 28, 2013

Slovakia: Public Debt Quota Exceeds 50% of GDP

For the first time since 2000, Slovakia´s public debt level exceeds the 50% threshold.

January 24, 2013

Czech Republic: Both Presidential Candidates Want to Join Eurozone

Unlike the outgoing President of the Czech Republic Vaclav Klaus, Milos Zeman and Karel Schwarzenberg are in favor of the euro.

January 19, 2013

IMF to Visit Serbia Again

The International Monetary Fund underlines that Serrbia must reduce its public debt. At the same time, the government must stimulate economic growth, IMF says.

January 18, 2013

Croatia: One Step Closer to the EU

According to their own statements, the Croatian government has fulfilled eight out of ten tasks, which must be finalized until July 2013. However, Croatia´s economic problems are far from being solved.

January 15, 2013

New Elections in Slovenia?

The government crisis in Slovenia sharpens. Economists warn of a leftist coalition.

January 15, 2013

Romania: Ponta Promises Return to Growth

Prime Minister Victor Ponta underlines the necessity of austerity measures. This year, Romania´s public debt level will increase further, though.

January 12, 2013

Only Small Budget Deficit in Bulgaria

The cumulative balance remained at -0.1% of GDP. Bulgaria only records a minor deficit of BGN 31m, Raiffeisen Research reports.

January 12, 2013

Moody´s: Slovak Austerity Plans Not Realistic

According to the U.S. rating agency, the deficit reduction plan may be too ambitious.

January 10, 2013

Serbian Government Emphasizes Need of Austerity

The government in Belgrade has prepared a fiscal consolidation program. In the next years, the public debt quota is expected to decrease slightly.

January 10, 2013

Serbia to Sign Loan Agreement with Russia

Tomorrow, Serbia´s Minister of Finance Mladjan Dinkic will visit Moscow.

January 10, 2013

Serbia: Doubts About Economic Development

Milos Bugarin, President of Serbia´s Chamber of Commerce demonstrates skepticism regarding the economic outlook issued by the government.

January 7, 2013

Croatia Faces Stagnation

Last year, Croatia´s economy shrank substantially. In 2013, the country will recover, economists say.

January 5, 2013

Slovakia: Gasparovic Demonstrates Optimism

On the occasion of his traditional New Year´s speech, Slovakia´s President Ivan Gasparovic underlines that the country is able to manage the crisis.

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

Bulgaria: Budget Deficit Lower than Planned

Bulgaria´s budget deficit is expected to reach about 1.0% of GDP.

December 30, 2012

Czech Republic Does Not Fulfill Maastricht Criteria

At the moment, joining the eurozone is no issue for the Czech Republic. The stability criteria are still not fulfilled anyway.

December 28, 2012

Lithuania: Budget Finally Approved

Lithuania´s President Dalia Grybauskaite confirmed the 2013 budget.

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

Austrian Economy: IHS and WIFO Cautiously Optimistic

The two Austrian economic research institutes anticipate an economic recovery in the second half of 2013.

December 21, 2012

Slovakia: Budget Deficit Comes at 4.6%

This year, the Slovak budget deficit is expected to be significantly beyond the Maastricht criteria.

December 20, 2012

Russia´s Budget Deficit Higher than Expected

This year, Russia will record a budget deficit of 0.25% of GDP.

December 20, 2012

Komorowski: “Poland Needs Euro”

Poland´s President Bronislaw Komorowski wants his country to join the Eurozone. Now, the government has to convince the people, he says.

December 19, 2012

Public Debt Committee Warns Austrian Government

2013 will be dangerous for Austria´s austerity course, the economist Bernhard Felderer says.

December 18, 2012

S&P Downgrades Croatia

Croatia´s Minister of Finance Slavko Linic does not exclude that Croatia needs support from the IMF next year.

December 17, 2012

Bulgaria: Budget Deficit Ahead

The January-October budget balance moves to negative territory (-0.1% of GDP), Raiffeisen Research says.

December 17, 2012

Austria: “Economic Stability in Sight “

Moderate rise in economic growth: after 0.5 percent in 2012, figure of 0.9 percent anticipated for 2013 due to growing export demand. Long-term outlook: if domestic demand picks up, increase of 1.5 percent on the cards for 2014.

December 17, 2012

Austrian Municipalities: Real Deficit Ahead

Until 2016, Austrian municipalities expect that the financial resources for investments and debt reduction will decrease.

December 14, 2012

Hungary Resolves 2013 Budget

Today, Hungary´s Parliament approved the budget for 2013, which contains a number of tax increases. According to critics, the budget will not hold.

December 12, 2012

WIFO: South Europe Needs Change in Strategy

The Austrian Institute of Economic Research (WIFO) underlines that the austerity policy in South European countries did not help at all.

December 12, 2012

Ukraine Faces Recession

For the first time since 2009, Ukraine recorded a negative growth rate last quarter. Weak exports and a shrinking industrial sector are the most pressing issues.

December 8, 2012

Serbia Receives $ 800m Loan

The World Bank grants Serbia a loan of $ 800m. The loan covers Serbia´s budget deficit and enable the government to put more effort into infrastructure investments.

December 8, 2012

Croatia Considers Leasing Out Highways

In order to reduce the budget deficit, Croatia plans to privatize its highway network.

December 8, 2012

Slovenia Sharpens Austerity Measures

The Slovenian Parliament resolved the budgets for 2013 and 2014. The country tries to fulfill the Maastricht criteria.

December 8, 2012

Fiscal Policy: OECD Warns Slovakia

OECD´s Secretary General Angel Gurria calls Slovakia to improve its fiscal efficiency. The tax collection must be professionalized, he says.

December 8, 2012

Austria Faces Recession

Austria´s National Bank OeNB has revised the growth forecasts one more time. Next year, Austria´s economy will only grow by 0.5%.

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

Fitch Cuts Croatia´s Credit Rating Outlook

The U.S. rating agency argues that the economic development in Croatia is substantially behind the expectations.

November 30, 2012

Slovenia to Inject Further Money in NLB

The biggest Slovenian banking group NLB records a capital shortfall of € 375m. Risky loans reach more than € 1.5bn.

November 29, 2012

Reforms: Weak Performance of Austrian Government

The Brussels-based think-tank “The Lisbon Council” and German Berenberg Bank underline that Austria´s economic situation is still favorable. However, the implementation of reforms slackens.

November 29, 2012

OECD: CESEE Countries A Risk Factor for Austria

Next year, Austria´s economy will only show a growth rate of 0.8%. Unemployment is estimated to increase further. CESEE countries would lower the grow prospects for Austria, OECD says.

November 27, 2012

Allianz: Austria´s Economic Position Improves

According to the German insurance group, the economic situation of ten out of 17 Eurozone member countries has worsened. Austria could make up one place.

November 26, 2012

Austrian Municipalities in Troubles

Last year, the debt level of Austrian municipalities could be reduced. Nevertheless, the financial situation remains tensioned.

November 24, 2012

Czech Republic: Budget Approved

Next year, the Czech state budget is planned to reach 2.9% of GDP.

November 22, 2012

Slovenia to Sharpen Austerity Measures

The Slovenian Prime Minister Janez Jansa announced that the austerity policy will be implemented even more consequently.

November 20, 2012

Vienna´s Debt Level Grows Considerably

In 2013, the public debt level of Austria´s capital will increase to € 4.34bn.

November 19, 2012

Gloomy Prospects for Ukraine

Economic slowdown is gaining momentum: GDP slumped by 1.3% yoy in the 3rd quarter, while industrial output contracted for 5th month in a row in October (by 4.2% yoy), Austrian RZB states.

November 19, 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

Hungary: Next Austerity Package Resolved

The Hungarian government is caught between the need to lower the budget deficit and to support economic growth.

November 17, 2012

Austria´s Budget Deficit to Decrease Slightly

Today, the Austrian National Assembly has resolved the budget for 2013. This year, Austria will not fulfill the Maastricht Criteria.

November 16, 2012
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