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Economic Growth

MNB Replaces Hungarian Banking Industry

In order to push economic growth rates, Hungary´s National Bank continues to support the subsidized loan program. The support should help to boost the construction of real estate.

December 14, 2013

Emerging Markets Face Decrease in Risk Appetite

Foreign investors become more and more cautious about investing in emerging markets. Regions like Central, Eastern and Southeastern Europe are highly dependent on foreign sentiments.

December 14, 2013

Poland: Budget Deficit Expected to Fall

In view of the accelerating economy, Poland´s fiscal shortfall will be smaller than initially projected, the rating agency Fitch states.

December 13, 2013

Leitl: No Alternative to Budget Consolidation

Christoph Leitl, President of the Austrian Chamber of Commerce (WKO), regards the coalition agreement between the Social Democrats (SPÖ) and the People’s Party (ÖVP) acceptable.

December 13, 2013

Croatia: Major Investments to Boost Economic Growth

The Croatian government on Thursday adopted an investment plan for 2014 which includes large-scale investments, amounting to as much as HRK 73.1 billion.

December 13, 2013

Poland: Growth May be Higher than Projected

Poland´s new Finance Minister Mateusz Szczurek thinks that the growth estimations for 2014 may be too cautious.

December 12, 2013

Hungary: Stable Outlook Yet Still Junk Status

In spite of Matolcsy, governor of the Hungarian National Bank (MNB), demanding a better rating for the country’s credibility, the major rating agencies have not raised them.

December 12, 2013

Czech Republic: Banking Sector Proves Stable

According to the latest results of the bank stress test by the Czech National Bank (CNB), the domestic financial institutes remain resistant to a potential negative development.

December 12, 2013

Ten Capital Market Themes for 2014 by Raiffeisenbank

Leading indicators show a recovery of global growth.

December 11, 2013

OeNB Calls on Austrian Banks to Strengthen Their Capital Base Further

Presentation of the Financial Stability Report 26 of the Oesterreichische Nationalbank (OeNB).

December 11, 2013

Croatia: EU Introduces Excessive Deficit Procedure

In the last years, Croatia´s fiscal situation has deteriorated considerably. Not only the budget deficit remains above 3.0% of GDP, but also the public debt quota has climbed above 60% of GDP.

December 11, 2013

Poland: Unemployment Grows Further

In November, the unemployment rate came at 13.2%. The labor market has the worst behind, the government says.

December 11, 2013

Serbia: World Bank Attaches Loan to New Laws

The World Bank has attached the loan in the amount of US-$ 250m (€ 183m) for Serbia to the implementation of three important laws within this year still.

December 10, 2013

Slovenia Still Wants to Solve Problems on Its Own

According to head of Eurogroup Jeroen Dijsselbloem, the highly indebted country intends to get a grip on the problems of its banking sector.

December 10, 2013

Poland: Interest Rate to Remain at Record Low

In the first half of 2014, the National Bank of Poland (NBP) will not alter the reference rate, economists say.

December 10, 2013

Czech Republic: Industrial Output Slowed Down

In October, the industrial performance in the Czech Republic only grew by 3.5 percent on a year-on-year comparison basis.

December 9, 2013

Wifo: Austrian Economic Growth Still Sluggish

Seasonally adjusted and corrected for working day effects, GDP increased by 0.2 percent compared to the second quarter. The upturn becomes evident only in a very moderate pace.

December 9, 2013

Slovakia: Economy Accelerates Slightly

In the third quarter of 2013, the Slovak GDP year-on-year growth was up to 0.9%, according to the Slovak Statistical Office.

December 8, 2013

Austria: Slight Increase in Exports

In spite of a continuing difficult international environment domestic exports increased by 0.7 percent. According to Economy Minister Mitterlehner the Austrian exports are on a record high.

December 6, 2013

Austria: Nowotny Warns of Choking off Economic Growth

The Austrian National Bank (OeNB) has slightly decreased this year’s economic growth from 0.5 percent to 0.4 percent. However, the recession of the past two years is over, the bank claims.

December 6, 2013

Economic Recovery in CESEE Supported by Exports

According to the GDP data for some Central and South Eastern European countries published today, economic recovery was backed by a strong increase in export activity.

December 5, 2013

Belka: Recovery Will Be Longer

According to Marek Belka, governor of the National Bank of Poland (NBP), the country’s economy sees a continuing and persistent recovery.

December 5, 2013

Moody's: ECB Rate Cut Does Little for Economic Growth

ECB rate cut to a record low 0.25% will likely do little to support economic growth, according to Moody's Analytics.

December 5, 2013

ECB: Debates about Further Measures in Monetary Policy

Today the 23 member of the European Central Bank’s Council have initiated debates about the the stance of monetary policy. The base rate, lowered to 0.25 percent last month, is expected to remain unchanged.

December 5, 2013

Czech Republic Remains in Recession

The Czech economy continues to shrink. Above all, private consumption and investments are weak.

December 5, 2013

Poland: Benchmark Rate Remains Unchanged

The Polish National Bank (NBP) holds the reference rate at its record low of 2.5%.

December 4, 2013

Bank of Albania Presses for Agreement with IMF

The Albanian economy from short-term adjustment toward long-term sustainable growth. Why Albania needs an agreement with the IMF.

December 4, 2013

Austria: Debt Quota to Increase Slightly

Because of the new EU regulations the debt quota will increase by around 2.5 percent.

December 3, 2013

Poland: GDP Growth Speeds up

The long-awaited economic recovery starts to accelerate in Poland.

December 2, 2013

Hungary: Matolcsy Demands Resignation of EU Commissioner

György Matolcsy, Governor of the Hungarian National Bank (MNB), demands a better rating for Hungary and the resignation of EU Commissioner Olli Rehn.

December 2, 2013

Hungary: Economic Acceleration Takes Form

According to French BNP, the Hungarian economy starts to grow again. Nevertheless, the banking industry does not face better times yet.

November 29, 2013

Polish Economic Growth Boosted by Exports

Due to the growing exports, Poland´s GDP accelerated in the third quarter.

November 29, 2013

Austria: Tax Losses Amount to € 2bn in 2014

The Austrian People’s Party estimates tax losses in the amount of € 2bn for the coming fiscal year as announced by State Secretary for Foreign Affairs Reinhold Lopatka in an interview with radio station Ö1.

November 29, 2013

CESEE: Slight Growth Acceleration, but Uncertainties Persist

The Vienna Institute for International Economic Studies (wiiw) has published the economic forecast for the CESEE region today. The economic performance varies substantially from country to country.

November 28, 2013

Leitl: Growth Stimulating Measures for Budget Consolidation

Leitl calls for growth stimulating measures which are the basis for the consolidation of the Austrian budget.

November 28, 2013

EU Needs Investments for Growth

Europe will not see any substantial growth without serious investment in research and innovation.

November 28, 2013

Croatia: Milanovic Promises Economic Recovery

Prime Minister vows that Croatia's economy will be put on a sounder footing.

November 28, 2013

EU Financial Transaction Tax to Become a Flop?

Experts do not expect the financial transaction tax to become effective next year.

November 27, 2013

Croatia: HNB Pushes Credits

According to reports by Reuters, the Croatian National Bank (HNB) intends to issue HRK 4bn (US-$ 707m) to support credits. Further details will be published by the Central Bank later this week.

November 27, 2013

Czech Republic: CNB Aquires Foreign Currencies

During monetary interventions CNB has purchased foreign currencies in the amoung of CZK 200bn.

November 26, 2013

WKO: Better Framework Conditions for SMEs

Small and medium sized enterprises (SMEs), with between 10 to 249 persons employed, are a driver of the European economy, creating jobs and contributing to economic growth. WKO calls for better framework conditions for SMEs.

November 26, 2013

Austria: “Budget on Target“

State Secretary for Finance Andreas Schieder points out that “the figures from the Finance Ministry for the budget performance until October show that the budget 2013 is on target.” Social Minister Hundstorfer calls for reforms.

November 25, 2013

Serbia: Inflation Rate at Lowest Level in a Decade

The Western Balkan country is expected to reach the lowest inflation rate in ten years.

November 25, 2013

Poland: IMF Corrects Growth Forecast Upward

Growth forecasts for next year were increased by 0.3 percent by IMF.

November 25, 2013

Wide Parts of CESEE Region Below Pre-Crisis Level

In terms of economic output, a large number of CESEE countries have not reached the level of 2008 yet. The growth outlook remains cautious.

November 25, 2013

Austria: Decent Economic Outlook

Despite an economic acceleration, the macro-economic frame conditions remain difficult in 2014. A major risk factor is the fiscal situation.

November 24, 2013

Szczurek: EU Funds to Create Growth

Poland´s designated Minister of Finance Mateusz Szczurek explained that EU contributions will be used to support Polish GDP growth.

November 23, 2013

Slovakia Benefits Substantially from EU

In the next fiscal term from 2014 to 2020, Slovakia will receive net contributions of € 14bn. Without the EU contributions, Slovakia´s fiscal situation would be difficult.

November 23, 2013

Czech Republic to Bottom Out?

The economic data for the third quarter indicate that the downward trend is stopped now, governor of the CNB said. Nevertheless, the GDP data are worse than expected.

November 23, 2013

Slovenia: Economic Growth Expected to Speed up Next Year

Economic growth is expected to accelerate next year.

November 22, 2013