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Fiscal Policy
Slovenia: New Coalition Stands
Slovenia´s new Prime Minister Alenka Bratusek is the head of a four-party-coalition.
March 13, 2013
Turkey: Economic Imbalances Become More Visible
Unlike the Eurozone, Turkey´s economy still shows substantial growth rates. However, Turkey suffers from a number of structural weaknesses.
March 13, 2013
Hungary: Constitutional Amendmends Signed By Vast Majority
EU Commission fears that Hungary’s state institutions will have to experience major restrictions.
March 12, 2013
Bulgaria: EVN Under Surveillance
While the Austrian power supplier EVN is currently kept under surveillance of the Bulgarian judiciary and government, protests by the citizens all over the country continue.
March 11, 2013
Austria: Opposition Puts Forward Constitutional Challenge
Fiscal Pact undermines sovereignty of parliament and forces the country to severe austerity measures.
March 9, 2013
CZ: President Klaus Leaving Presidential Office
After having been in office for ten years, Czech President Vaclav Klaus left Prague Castle. Today, Friday March 8, his sucessor Milos Zeman is going to be sworn in.
March 8, 2013
Slovenian National Bank: “GDP Decline in Line with Expectations”
The Governing Board of the Bank of Slovenia discussed current economic and financial developments.
March 7, 2013
Hungary: Incoming National Economy Minister Summarizes Targets
Succeeding Minister of National Economy Mihály Varga outlined economic policy cornerstones
March 7, 2013
Leitl: "Restructuring Instead of Cashing in"
Christoph Leitl, head of WKO (Austrian Chamber of Commerce), dismisses further plans for a tax hike. The outcome would be fatal and the economy exposed to threats.
March 6, 2013
Hungary: Highest Loss in Real Wages in Five Years
Gross salaries increased 4.6 % while net income only saw moderate rise at 2 % in 2012.
March 6, 2013
Hungary: GKI Forecasts Budget Deficit of HUF 200 bn
The Hungarian government is in complete opposite to GKI’s statement: forecasts economic growth of 1 % and does not see any concerns.
March 5, 2013
Czech Republic Eases Austerity Policy
In order to boost economic growth, the Czech government tends to refrain from the strict austerity course.
March 5, 2013
Latvia: Letter Requesting the Convergence Report is Signed
The Baltic country wants to become a member of the Eurozone by 2014.
March 5, 2013
Bulgaria: Eagles Briges Civic Association To Be Found in Sofia
Protesters are gathering in the Arena Armeets Hall to differentiate their pleas.
March 4, 2013
Belka and Rostowski “Time to Move Up a Gear”
Governor of NBP (National Bank of Poland) Marek Belka and Poland´s Minister of Finance Jacek Rostowski want to accelerate Poland´s approach to the Eurozone.
March 4, 2013
Bulgaria: Budget Balance Negative
The budget balance under the Consolidated Fiscal Programme (CFP) as of end-January 2013 is negative, amounting to BGN 536.5 million.
March 4, 2013
Austria: Government Adheres to Zero Deficit in 2016
Although the economic development is behind the expectations, the government wants to achieve a budget surplus in 2017.
March 2, 2013
Poland: Fiscal Treaty Ratified
Poland´s President Bronislaw Komorowski has signed the EU Fiscal Pact this week.
March 1, 2013
Bulgaria: Economy to Stabilize
Despite the enormous political instability, Bulgaria is expected to record positive growth rates this year.
February 28, 2013
Austrian Budget: Pensions as Risk Factor
Until 2017, the additional burden has a size of € 1.0bn, Austrian Minister of Finance Maria Fekter says in an interview with “Presse”.
February 28, 2013
Fekter Pleased with New Banking Regulations
Austrian Minister of Finance: "Agreement stabilizes banking sector, protects taxpayers and strengthens Austrian SMEs".
February 28, 2013
Serbia: Real Wages Falling Drastically
Salaries and wages per employee in the Republic of Serbia were down by 17% in January 2013.
February 28, 2013
IMF Dissatisfied with Croatia´s Economic Progress
Economic conditions have deteriorated lately, reflecting weak external demand, private sector debt reduction, and lack of business and consumer confidence, the IMF delegation said.
February 28, 2013
Slovenia: Bratusek New Head of Government
Today, Slovenia´s Lower House of Parliament has elected a new Prime Minister. Janez Jansa continues to manage the government business.
February 27, 2013
Euro Adoption: Poland Has No Fixed Date Yet
For the time being, Poland wants to meet the Maastricht Criteria. The date for entering the Eurozone will be fixed in 2015.
February 27, 2013
Ukraine and EU Signed Memorandum of Understanding and Loan Agreement
Memorandum for the stability of Ukraine’s finance and economy was signed on the EU-Ukraine Summit.
February 27, 2013
Poland: Rostowki’s Fight for the Euro
Even though Poland’s rating outlook has been revised from “A-“ to “A” by Fitch it still has to face political reforms in order to improve its economic competitiveness.
February 24, 2013
Bulgaria: Protests Continue in Sofia and Varna
Bulgarian political decisions are afflicted by extreme unpopularity as almost 60 % of the population suffers from immediate poverty. Riots continue in Sofia and Varna.
February 24, 2013
Austria Become Second Most Important Trading Partner for Hungary
Last year, only the foreign trade volume between Hungary and Germany was higher. Peter Szijjarto, spokesman of Prime Minister Viktor Orban´s party Fidesz says.
February 23, 2013
Austria: Felderer Warns of Property Taxes
The economist believes that already the discussion about property taxes is damaging the Austrian business location.
February 23, 2013
Hungary: Government Demonstrates Optimism
Peter Szijjarto, spokesman of Prime Minister Viktor Orban´s party Fidesz, believes that Hungary´s economy will perform well this year.
February 23, 2013
Poland: Nuclear Power Plant Project Wobbles
Poland´s Treasury Minister Mikolaj Budzanowski explained that Poland cannot afford the nuclear power plant.
February 23, 2013
EU Financial Framework: Romania Is a Clear Winner
In the financial period from 2014 to 2020, Romania would be able to receive EUR 39.2bn from the European Union.
February 23, 2013
Situation in Bulgaria Remains Tense
After the resignation of the Bulgarian government, the political atmosphere is at a tipping point. The protests continue and are broadening.
February 21, 2013
Romania: Disappointing Economic Growth
“According with the flash estimate, GDP increased marginally in Q4 2012 (+0.2% qoq), which was a touch above our expectations and market consensus”, Raiffeisen Research reports.
February 21, 2013
IMF Visits Croatia Again
A Mission of the International Monetary Fund, led by Nikolay Gueorguiev, arrived in Croatia for its usual semi-annual visit.
February 21, 2013
Austria: Controversy About Property Taxes
According to Christian Keuschnigg, director of IHS, property taxes would have a negative impact on economic growth and the employment situation.
February 20, 2013
Ukraine: Budget Deficit Grows Considerably
General government deficit increased to 5.5% of GDP in 2012 (from 4.2% in 2011) amid feeble tax revenue performance, Raiffeisen Research says.
February 20, 2013
Ukraine: Deal With IMF to be Cut in Summer
The visit of IMF mission to Kyiv did not bring the immediate results. Raiffeisen Research expects the negotiations to be rather prolonged.
February 20, 2013
Bulgarian Government Resigns
This step came as a surprise. Before, Prime Minister Boyko Borisov rejected to step down. In April, the country will hold new elections.
February 20, 2013
S&P Warns Austria of Election Gifts
This year, Austria will hold federal elections. According to S&P, expensive election gifts may reduce the credit rating outlook.
February 19, 2013
Protests in Bulgaria Threaten to Escalate
Despite the resignation of Minister of Finance Simeon Djankov, the protests go on and may turn into riots. The opposition wants to hold new elections.
February 19, 2013
Poland: Rostowski Calls for Structural Reforms
Minister of Finance Jacek Rostowski wants his country to join the Eurozone. However, Poland has to implement fiscal reforms, he claims.
February 18, 2013
Estonians Suffer from Unfavorable Working Conditions
According to a survey carried out by the daily newspaper Eesti Päevaleht, a considerably high number of Estonians want to leave the country. The situation in Lativa is almost the same.
February 18, 2013
Romania Almost Stagnates
Last year, Romania´s economy could prevent a recession. The GDP growth came at 0.2%.
February 18, 2013
Bulgarian Minister of Finance Resigns
Due to the citizens´ protests against the government´s austerity cuts, Simeon Djankov steps down as Deputy Prime Minister and Minister of Finance.
February 18, 2013
Financial Transactions Tax: Austria Expects Tax Intake of € 500m
The Austria government is optimistic to reach the fiscal goal. The Federation of Austrian Industries (IV) warns of detrimental effects for the real economy.
February 16, 2013
IMF Praises Lithuania´s Economic Recovery
According to the International Monetary Fund, the income redistribution is not sufficient. In general, Lithuania´s economic performance is satisfying, however.
February 16, 2013
Euro Adoption: Latvian People Not Convinced at All
Latvia´s government is proud of its austerity course of the last years. According to Prime Minister Valdis Dombrovskis, the country is ready for the euro.
February 16, 2013
Fekter Wants to Reduce „Ageing Costs“
Austria´s Minister of Finance Maria Fekter thinks that pension cuts are inevitable. The social democrats reject Fekter´s ideas.
February 15, 2013
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