Sponsored Content
Budget Deficit
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
Slovenia Still Rules Out Calling for Rescue
The Slovenian government tries to prevent to be bailed out by the EU and IMF by all means. However, experts fear that Slovenia is the next candidate for the safety net.
November 10, 2012
Fitch Confirms AAA for Austria
The outlook is „stable“. The rating agency is worried about the banking sector, however.
November 9, 2012 · Updated: November 9, 2012; 17:13
Hungary´s Budget Deficit Below 3.0%
The EU Commission estimates that Hungary´s budget deficit will comply with the Maastricht Criteria in 2012 and 2013. However, the deficit may exceed the 3.0% threshold in 2014.
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
Future of Czech Government Uncertain
Although Prime Minister Petr Necas was confirmed as party leader of the governing ODS, the government is still threatened to collapse.
November 6, 2012
Hybrid Bond for Hypo Group
In order to cover the capital shortfall of Hypo Group, the Austrian state may inject € 500m into the nationalized bank. Furthermore, the bank plans to issue bonds worth € 1.0bn.
November 3, 2012
Czech Republic to Stagnate
The economic outlook for the Czech Republic had to be revised again. After a significant recession in 2012, the Czech GDP will only grow by 0.2% next year.
November 2, 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
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
“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
Czech Government to Change?
Prime Minister Petr Necas is under pressure. A failed austerity package would cause a government change.
October 23, 2012
Austrian Tax Quota to Increase
Austria´s Finance Minister Maria Fekter expects a higher tax intake in 2013. Next year, the tax quota will grow slightly to 43%. In order to prevent further expenses, Fekter rejects creating bad banks.
October 20, 2012
Hungary Does not Exclude to Increase Bank Tax
Prime Minister Orban refers to the pressure coming from Brussels. Hungary must reduce the budget deficit below 3.0% of GDP.
October 20, 2012
Hungary Doubles Financial Transaction Tax
The Hungarian Minister of Economics Gyorgy Matolcsy announced that the financial transaction tax will be increased to 0.2%. Moreover, the bank taxes will not be reduced.
October 17, 2012
Austrian Budget: Experts Call for Further Reforms (Part 3)
Economists think that the budget does not contain enough reform steps. The opposition does not see any signs of progress.
October 16, 2012
Austrian Budget: Experts Call for Further Reforms (Part 2)
Austrian economic research institutes criticize the state budget and want the government to show more ambition.
October 16, 2012
Austrian Budget: Experts Call for Further Reforms (Part 1)
Today, the Austrian Finance Minister Fekter presented the 2013 Budget to Austrian National Assembly. The reactions were highly controversial.
October 16, 2012
Austria to Violate Maastricht Criteria in 2012
This year, the Austria budget deficit will not be below the 3.0% threshold. This is mainly due to the banking package.
October 15, 2012
Orban Blames EU for Austerity Cuts
The Hungarian Prime Minister Viktor Orban explains that Hungary has no other choice but to deepen the austerity cuts.
October 13, 2012
Czech Government Attempts to Stimulate Growth
On the one hand, the Czech government deepens the austerity measures. On the other hand, growth-stimulating investments should be initiated.
October 13, 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
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
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
Hungarian Economy Still Shows Weakness
The country´s economic growth remains low, public debt leaves no leeway for fiscal policies. A high level of foreign debt remains a significant weakness of the Hungarian economy.
October 6, 2012
New Austerity Package in Hungary
In order to cut the budget defict below 3.0% of GDP in 2013, the Hungarian government plans further cuts and tax increases.
October 5, 2012
Slovenia to Sharpen Austerity Measures
The Slovenian centre-right government announces new austerity cuts. The budget deficit should be lowered to 3.0% of GDP.
October 5, 2012
Mitterlehner: „No Economic Stimulus Package“
Austria´s Minister of Economics rejects another stimulus package for the Austrian industrial sector. The budgetary situation would not allow that, he says.
October 4, 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
Eastern Europe Remains Austria´s Future Region
The Austrian economist Christian Keuschnigg thinks that the opening of Austrian companies toward Eastern Europe was a “highly favourable event”.
October 4, 2012
Hungary Must Lower Budget Deficit
The Hungarian National Bank puts pressure on the government to lower the budget deficit. By contrast, the government has widened the budget target to 2.8% instead.
October 4, 2012
Slovenian Parliament Approves Creation of Bad Bank
The Slovenian state creates a bad bank in order to restructure the financially stricken banking sector.
October 4, 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
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
Hungarian Budget Deficit Growing Quickly
According to preliminary data the deficit of the general government sector in the first half of 2012 was HUF 393 billion, 2.8% of GDP. Although the deficit is smaller than last year, the 2012 target will not be met.
October 2, 2012
Austrian Budget Targets Will Not Hold
In August, Finance Minister Maria Fekter underlined that the budget deficit will not exceed 2.9% of GDP. Due to the banking package, the budget deficit will be higher, though.
October 1, 2012
Hungary: Budget Targets Endangered to Fail
In August, Hungary´s budget deficit has almost reached the full year´s level. Analysts doubt whether Hungary may achieve a 2.5% budget deficit this year.
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
Czech Deficit in 2013 at 2.9% of GDP
The Czech Government presented the budget bill for 2013. The Maastricht Criteria should be fulfilled.
September 29, 2012
Austrian Public Debt at 75% of GDP
Public Finances 2011: Public deficit at 2.5%, Public debt at 72.4% of GDP. In the first half of 2012, Austria´s public debt level grew by € 6bn.
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
Fast News Search
