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Economic Growth
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
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
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
Hungary: Recession Deepens
The gross domestic product of Hungary decreased by 1.5% in the third quarter of 2012 compared to the corresponding period of the previous year.
December 7, 2012
Czech Republic: Recession Continues
In Q3 2012, the gross domestic product adjusted for price, seasonal, and calendar effects decreased according to the refined estimate by 1.3%, year-on-year (y-o-y), and by 0.3%, quarter-on-quarter (q-o-q).
December 7, 2012
Belka: “Poland Is Free of Economic Imbalances”
The governor of the Polish National Bank (NBP) admits that the economic slowdown is substantial, but no fundamental problem.
December 6, 2012
Slovakia: Economic Growth Still Strong
A year-on-year economic growth was recorded in the SR in the third quarter of this year too, however, the dynamics of the growth moderated at constant prices to 2,1 %.
December 6, 2012
Polish Government Retains Budget Assumptions for 2013
Poland´s Prime Minister Donald Tusk said that there is no need to change the economic assumptions at the moment.
December 5, 2012
Poland: Another Rate Cut Expected
The Polish National Bank (NBP) will lower the interest rate one more time this year, analysts say.
December 4, 2012
Rothensteiner: „No Credit Crunch“
Walter Rothensteiner, CEO of Austrian Raiffeisen Zentralbank, thinks that the capital shortfall of European banks does not limit credit supply.
December 3, 2012
Poland: Economic Growth Flattens Further
The crisis in the Eurozone also hits Poland. In the third quarter, the economic growth rate only came at 1.4%.
December 3, 2012
“Eurozone On Stable Ground”
Austria´s Minister of Finance Maria Fekter is optimistic. Spain, Portugal and Ireland are making substantial progress. However, the crisis is not over yet, she notes.
December 1, 2012
Polish Economy Slows Down
In the third quarter, annual GDP growth was below 2%, the Polish Ministry of Finance said today.
November 30, 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
IMF: Higher Risks for Austrian Banks in CESEE
In an interview with the Austrian news magazine “Presse”, IMF´s Executive Director Johann Prader explained that the European debt crisis has arrived in Central, East and Southeast Europe.
November 28, 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
Romania: Economic Upswing Expected
According with the flash estimates, real GDP declined by 0.5% qoq and by 0.6% yoy in Q3. “In our view, contraction was mainly the result of a plunge in agricultural output.” Austrian Raiffeisen Research says.
November 26, 2012
CESEE: Russia Has Best Growth Prospects
Next year, Russia is expected to record a GDP growth rate of 3.8%, Vienna Institute of International Economic Studies (wiiw) says.
November 26, 2012
Nowotny: „CESEE Needs New Growth Model“
Ewald Nowotny, governor of Austria´s National Bank (OeNB), thinks that the current growth model for the region is outdated.
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
Czech Republic: Overall confidence in economy decreased
The composite confidence indicator (economic sentiment indicator) decreased by 1.7 points compared to October.
November 26, 2012
Poland: Economy Expected to Recover in 2013
Poland´s Minister of Finance Jacek Rostowski is optimistic that economic growth will accelerate next year.
November 21, 2012
Nowotny: GDP Forecast Will not Hold
The governor of Austria´s National Bank Ewald Nowotny admits that the forecast on Austria will have to be revised.
November 21, 2012
Nowotny: „Not Afraid of Inflation“
Ewald Nowotny, governor of Austria´s Central Bank (OeNB) thinks that the danger of a stagnating economy is bigger than the danger of an increasing inflation.
November 20, 2012
CNB: „Czech Republic Does Not Need Quantative Easing“
The Czech National Bank underlines that the country´s economy is fundamentally stable. The current situation would be managable.
November 20, 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
Hungary: Gross Earnings Grow Moderately
In the national economy – at corporations employing at least 5 persons, budgetary and designated non-profit institutions – average gross earnings increased by 4.5%.
November 20, 2012
Slovakia: Economy Slows Down
In the third quarter of 2012, Slovakia´s GDP grew by 0.6%. Compared to the previous quarter, the growth rate remained unchanged.
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
Belka: Polish Economy Will Recover In 2013
The governor of the Polish National Bank (NBP) Marek Belka demonstrates optimism.
November 17, 2012
S&P Upgrades Latvia
The Baltic country performs well, S&P underlines. The long and short-term sovereign credit rating moved from “BBB-/A-3” to “BBB/A-2”.
November 15, 2012
NBP: Further Interest Cuts Likely
The Polish National Bank may reduce the base rate further. Poland´s economy is expected to slow down next year.
November 15, 2012
Austria: Second Recession Ahead
The double-dip scenario becomes more and more likely. In the third quarter, Austria´s GDP was down for the first time since 2009.
November 15, 2012
Hungary´s Recession Goes On
In the third quarter of 2012, Hungary´s GDP was down by 1.5%.
November 15, 2012
Slovak Growth Flattens
Slovakia´s GDP still grows substantially, but slower compared to previous quarters. Employment growth stagnates, though.
November 15, 2012
Czech GDP Drops Further
In the Q3 2012 the gross domestic product adjusted for price, seasonal, and calendar effects decreased by 1.5%, year-on-year, and by 0.3%, quarter-on-quarter, according to the preliminary estimate.
November 15, 2012
Austrian Economy Shows Weakness
Economic low delayed: slight GDP decline expected in the fourth quarter, resulting in economic growth of less than 1 per cent this year.
November 15, 2012
Czech Republic Does not Leave Recession Behind
The country does not only stay in a recession, the situation worsens further, economists say.
November 13, 2012
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
Polish National Bank Cuts Interest Rate
In order to support economic growth, NBP decided to ease its monetary policy.
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
Positive Business Outlook in Ukraine
Results of the Business Outlook Survey in Q3 2012: Unlike managers in Western Europe, Ukrainian managers give a positive assessment of the business activity in the near future.
November 7, 2012
Romania: Joining Eurozone Will Take up to 30 Years
Economists think that Romania´s economy is far from being ready for the euro. The convergence process may take decades.
November 7, 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
Poland: Lending Criteria to Tighten
According to the Polish National Bank (NBP), banks will tighten lending conditions further. NBP wants to support economic growth, but has to prevent a credit bubble.
November 6, 2012
Fitch Raises Turkey´s Rating
According to the U.S. rating agency, the Turkish economy performs well and became stable.
November 5, 2012
IHS: Collapse of Eurozone would Cost 157,000 Jobs
The Austrian Institute of Advances Studies IHS says that Austria´s economic growth would be lower by 11 percentage points until 2016.
November 5, 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
Bulgaria´s Growth Rate to Reach 1.0% in 2012
Bulgaria´s economy performs worse than expected. Next year, economic growth will recover.
November 2, 2012
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