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Fiscal Policy
Slovenia´s Government Hopes for More FDI
In order to promote more foreign direct investments, Prime Minister Alenka Bratusek plans to hold investment conferences across Europe.
November 1, 2013
“Property Tax Cannot Finance Wage Tax Cut”
Bernhard Felderer, head of the Austrian public debt committee, stresses that the Austrian government must reduce the public debt level as soon as possible.
October 31, 2013
Romania: Budget Gap Revised
In 2013, Romania´s fiscal shortfall is projected to reach 2.5% of GDP.
October 31, 2013
Slovenia: Parliament Approves Amendmends to Banking Act
Measures were taken to reduce costs for winding up of two small Slovenian banks.
October 30, 2013
Banking Sector: Pressure on Slovenia Grows
The IMF calls Slovenia to re-capitalize the banking sector immediately. However, Slovenia´s financial situation is already more than tense.
October 29, 2013
Hungary: Junk Rating Remains
S&P has reiterated Hungary´s sovereign debt rating. Further cuts are not unlikely.
October 28, 2013
Romania: Taxes Expected to Be Raised
The local press reports that numerous anonymous sources from the larger ruling party say that the executive is considering a hike in profit and income tax.
October 28, 2013
Germany: Proceedings against Take-Over of Hypo Group to Start
On Thursday the Higher Regional Court in Munich has decided to admit the prosecution against the take-over of Hypo Group Alpe Adria, which had earlier been rejected by the Regional Court as implausible.
October 28, 2013
Slovenia: Bailout Comes Closer
The ailing country is not expected to manage the financial crisis on its own. Calling for support from Brussels seems to be the last remaining alternative.
October 28, 2013
Hypo Group to Create Bad Bank
After months of considerations, the Austrian government will decide for the bad bank. The nationalized banking group will be a major burden for the state.
October 26, 2013
S&P Warns of Further Downgrade
The rating agency has kept the “AA+” rating. However, Austria has to put more effort into austerity measures, the rating agency stresses.
October 26, 2013
Czech Elections 2013: Tension Is Running High
Today, the Czech Republic holds new parliamentary elections. The Czech political landscape is expected to change fundamentally.
October 26, 2013
Czech Republic: Social Democrats to Win
Tomorrow, the Czech Republic will hold early elections. All polls are indicating a clear change in power. Bohuslav Sobotka is expected to become the next head of government.
October 25, 2013
Hypo Group: Worst Expectations May be Exceeded
For the Austrian state, the ailing nationalized banking group may become a financial GSA. The legal dispute with the former owner BayernLB bears enormous dangers for Austria´s public finance.
October 25, 2013
Hungary: Orban Underlines National Sovereignty
On the occasion of Hungary´s national holiday, Prime Minister Viktor Orban stressed the importance of values. The high public debt limits Hungary´s effective sovereignty, however.
October 24, 2013
Croatia: 2012 Budget Deficit Revised
Because of the different EU methodology, Croatia had to revise its budget gap. The fiscal situation remains critical.
October 23, 2013
Slovenia: Real Estate Tax Wobbles
The ruling parties could not agree on a common standpoint yet. The controversial real estate tax may fail.
October 22, 2013
Austria: Bank Aids Burden State Budget
Since the beginning of the financial crisis, Austria has lost billions of Euros.
October 22, 2013
EBRD Analyzes Slovenia´s Difficulties
From October 21 to 25, a delegation from the European Bank for Reconstruction and Development will visit the ailing country.
October 21, 2013
Romania and Bulgaria Have Lowest Debt Ratios
With a public debt to GDP ratio of 18.5%, Bulgaria has the second lowest public debt quota in the EU.
October 21, 2013
Poland: IMF Upgrades Growth Forecasts
According to the IMF, Poland´s GDP growth will reach 2.4%. In the prior forecast, the IMF anticipated a 2.2% growth rate.
October 21, 2013
Slovakia: New Burden for Insurance Industry
The Slovak government extends special taxes for companies operating regulated sectors. The bank tax will be abolished in the course of the next years.
October 21, 2013
Romanian Romgaz Starts IPO
Tomorrow, Monday, the Romanian government sells a 15% stake in Romgaz via the stock exchange. In the last months, the IMF has urged Romania to accelerate the privatization policy.
October 21, 2013
Slovenia: Massive Concerns Against Real Estate Tax
The Slovenian government plans to introduce property taxes in order to reduce the budget deficit. The opposition warns that the tax may be “highly counterproductive”.
October 18, 2013
Slovenia Introduces Property Tax
In order to reduce the massive fiscal shortfall, Slovenia is looking for new revenues. The property tax may bring more than € 400m.
October 17, 2013
Austria: RBI Expects Stabilization
Business in CEE seems to be in an up again. RBI is preparing for an IPO at the Warsaw stock exchange.
October 17, 2013
Austria: New Fiscal Difficulties
Austria´s state budget 2014 is not resolved yet. Moreover, a number of assumptions are highly uncertain.
October 17, 2013
Experts Urge Serbia to Accelerate Austerity Measures
It is still questionable whether the austerity measures announced by the Serbian government are sufficient.
October 15, 2013
Calculated Optimism in Slovenia
Slovenia´s Ministry of Economics expects a return to growth in the course of next year. According ot economists, this forecast is leading to doubt.
October 15, 2013
Hungary: Borrowing Costs Decline
Yields on Hungarian sovereign bonds reached an all-time low. However, a rebound in 2014 is rather probable.
October 12, 2013
Federation of Austrian Industries Urges for Reforms
IV (Federation of Austrian Industries) has high hopes. The next Austrian government has to implement a number of reforms, IV´s President Georg Kapsch says.
October 12, 2013
IMF: „Banks and Companies in a Vicious Circle“
Not only Greece, Spain or Portugal are struggling with a financially stricken banking sector. In Southeastern Europe, the situation is quite similar.
October 11, 2013
Austria Remains Main Investor in Slovenia
Last year, almost the half of the foreign direct investments in Slovenia came from Austria.
October 11, 2013
Southeastern Europe: Property Market Clashes
Since mid-2012, the property market in Southeastern Europe shrinks drastically. In Croatia, house prices fell by 20%.
October 10, 2013
IMF: Serbia´s Reforms are Not Sufficient
On the occasion of a visit in Serbia, the IMF commented the efforts of the Serbian government to cut the budget gap. The austerity cuts are right, but the country needs further reforms, IMF´s team said.
October 10, 2013
Slovenia Cannot Escape the Vicious Circle
Slovenia still aims to manage its banking crisis on its own. After the new economic forecast issued by Slovenia´s National Bank, this aim suffers another setback.
October 10, 2013
Romania Under Observation
The IMF wants Romania´s government to put more effort in austerity measures, market liberalization and privatization of state-owned assets.
October 9, 2013
Serbia Fights Against National Bankruptcy
The Serbian government has decided to implement a new austerity package. Above all, civil servants face substantial salary cuts.
October 9, 2013
World Bank: 47 Banking Crises in the Past 40 Years
47 banking crises that have struck 116 countries in the past 40 years - World Bank
October 8, 2013
Serbia: IMF as Last Exit
After unsuccessful negotiations in spring, Serbia is forced to ask the IMF for financial support. The fiscal policy is not the only weak point of the Balkan country.
October 8, 2013
Fekter Presses for Provisional Budget Financing
Finance Minister Maria Fekter (ÖVP) does not count on the government to present a budget draft in time, which was scheduled October 22 and involves the Finance Act until the end of the year.
October 8, 2013
Bulgaria Takes out Schuldschein Note Loan via German Banks
The Bulgarian government has decided to take out a Schuldschein note loan in the amount of € 360m through German banks, media reports claim.
October 7, 2013
Hungary´s Government: Budget Draft “Risky”
This week, Hungary´s government has submitted the budget draft to the Hungarian Parliament. The basic assumptions are rather optimistic.
October 5, 2013
Raiffeisen Research: CESEE Deserves Better Credit Ratings
Analysts of Raiffeisen Research think that Austria´s sovereign debt rating is worse than the rating agencies say. The CESEE region, by contrast, is seen too critically, Raiffeisen Research argues.
October 4, 2013
Pecik to Buy Hypo Group´s SEE-Affiliates?
The Austrian investor Ronny Pecik is said to be interested in acquiring the Southeast European subsidiaries of nationalized Hypo Group.
October 2, 2013
Austria: Better off within Eurozone
Economic experts claim that since the beginning of the single currency union, Austria has seen an additional economic growth of 0.4 percent. According to them, a collapse of the Eurozone would lead to a massive decline in exports.
October 2, 2013
Croatia Tries to Avoid Bail-Out by IMF
The 28th EU member country has severe fiscal problems. In order to avoid the IMF, Croatia borrows about $ 1.5bn on the U.S. market.
October 2, 2013
Slovenia: Asset Quality Deteriorates Rapidly
The government of the financially stricken country comes more and more under pressure. In meantime, about 17% of the Slovenian loans are classified as “risky”.
October 1, 2013
Hungary: Budget Deficit Higher Than Planned
In the first half of 2013, Hungary´s preliminary deficit came at 2.6% of GDP. The government anticipates that the deficit will not exceed 3.0% of GDP this year.
October 1, 2013
Czech Republic: GDP to Contract Less Drastically
The year-on-year decrease of the gross domestic product in 2012 has been refined to 0.9% against the up-to-now published 1.2%.
October 1, 2013
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