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Erdogan Tries to Put Pressure on EU
The Turkish Prime Minister Recep Tayyip Erdogan warns of postponing the EU accession of his country.
October 31, 2012
Hungary Cuts Interest Rates Again
The Council of Hungarian National Bank, which is dominated by representatives of the Hungarian government decided to cut the base rate from 6.50% to 6.25%.
October 31, 2012
Austria: Industrial activity Remains Weak for Now
Falling orders trigger cutbacks in production and job losses once more. Earnings of companies under pressure from sharp rise in input prices. Recovery in industry expected no earlier than 2013: growth of 3 per cent on horizon.
October 31, 2012
Romanian Economy to Shrink Further
With a large negative contribution expected to come from agriculture, real GDP should decline again in Q3 in quarterly terms (as well in annual terms). The contraction is likely to be larger than initially expected, Raiffeisen Zentralbank forecasts.
October 30, 2012
Poland: Real Wages are Falling
Due to the persistently high inflation rate, real wages have fallen for the first time in 20 years.
October 29, 2012
Czech Republic: Economic Sentiment on the Rise
According to recent surveys, confidence in the Czech Republic is increasing slightly.
October 25, 2012
Poland: Calls for Interest Cut Become Louder
The Polish economic growth flattens. NBP´s council member Andrzej Rzonca wants the interest rate to be cut.
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
Austrian Trade with Russia is Booming
This year, the Austrian Chamber of Commerce expects new record results. Above all, South Russia is perceived as future market.
October 18, 2012
Estonia: IMF More Optimistic
The Estonian economy is expected to expand by 2.4% this year.
October 18, 2012
Austria: Economic Sentiment Low
Despite solution to eurozone crisis taking shape, sentiment of consumers and producers still trending down. More optimistic outlook for 2013 after stagnation in second half of 2012.
October 17, 2012
Debt Crisis Weighing Down on Euro Zone more than on US
According to Austrian Erste Group Research, the economic development in the Eurozone remains subdued.
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
Austria: Pessimism on the Rise
Regarding the economic development, Austrians expect that the downward trend will continue.
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
Czech Banking Association Pessimistic
CBA has lowred its forecast on the Czech economy. The decreasing household consumption would be the main reason.
October 12, 2012
Czech National Bank Open for Interventions
At the moment, the Czech National Bank (CNB) sees no reason for weakening the exchange rate of the Czech Crown. However, CNB is ready to start interventions if necessary.
October 12, 2012
Austrian Economy Stagnates
According to Austrian National Bank (OeNB), the economic growth rate will be slightly negative. A recession is not excluded.
October 12, 2012
Austrian Foreign Ministry Wants “Better coordination for development cooperation”
"No single country can solve all the major problems of our time alone", Austrian State Secretary Reinhold Lopatka said at the "Development Dialogue" event in Parliament today.
October 12, 2012
Czech Economy to Shrink by 1.0% This Year
According to IMF, the Czech GDP will shrink by 1.0% this year. Next year an economic growth rate of 0.8% is expected.
October 10, 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
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
Hungarians Highly Dissatisfied with Economic Situation
According to a survey of the opinion research institute, 46% of the interviewees view their situation as “bad”.
October 9, 2012
Austria May Escape the Crisis
According to the latest forecast by IMF, expected economic growth in Austria comes at 0.9% this year. In the CEE countries, an average economic growth of 2.0% is forecasted.
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
Bulgaria: Djankov Predicts Long-Term Stagnation
Bulgaria´s Minister of Finance Simeon Djankov expects low growth rates in the next ten years.
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
Slovakia´s Growth Still Driven by Exports
The industrial sector still shows dynamics. However, government spending and consumption is falling further.
October 5, 2012
Belarus Has Lost an Important Source of Export Revenues
The economic prospects for the Belorussian economy are bad. The ruble will have to devalue. External support will be necessary, the Centre for Eastern Studies says.
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
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
IMF Puts Pressure on Slovenia
Slovenia is urged to implement quick reforms. Otherwise the country may have to be bailed out by the safety net.
October 3, 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
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
Slovenian Recession Aggravates
In 2012, the Slovenian economy is expected to shrink by 1.8%. Next year, Slovenia will not have reached the growth zone.
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
WIFO: Economic Outlook for Austria Worsens
According to the Austrian economic research institute WIFO, the economic framework conditions indicate a further slowdown.
September 28, 2012
CEE Remains Europe’s Growth engine Despite Slow-Down
CEE with 2012 GDP growth of 2.4 per cent – GDP in Eurozone to shrink to minus 0.5 per cent in 2012 . In terms of reforms, CEE tops Eurozone peripherals
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
Hungary: Simor Criticizes Interest Cut
The governor of Hungary´s National Bank Andras Simor warns of an increase in inflation.
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
Hungary „Still Obtains Funding from the Financial Market“
Vince Szalay-Bobrovniczky, the Hungarian ambassador in Vienna, emphasized that Hungary is not dependent on the IMF loan. The IMF urges Hungary to reduce its bureaucracy, he says.
September 26, 2012
“EU administration must be screened for savings potential”
Austrian State Secretary Lopatka repeats Austria’s central demands at the General Affairs Council in Brussels.
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
Bulgarian Economy to Recover
In 2013, Bulgaria is expected to show substantially higher growth rates, UniCredit Bulbank says.
September 24, 2012
Bulgaria Aims to Join the Eurozone
Ivan Iskrov, governor of Bulgaria´s National Bank explains that entering the Eurozone would be a long-term priority for the country.
September 22, 2012
Moody´s Retains Austrian Triple A
The U.S. rating agency also confirms the negative outlook. Austria´s strengths are the growth rates and the low unemployment rate.
September 22, 2012
Croatia: Recession Aggravates
According to the Croatian Statistical Office, GDP was down by 2.2% compared to last year.
September 20, 2012
Hungary Revises GDP Forecasts
Initially, the Hungarian government forecasted a GDP growth rate of 0.1% this year. Now, State Secretary Gyula Pleschinger explained that Hungary´s economy will shrink this year.
September 20, 2012
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