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Fiscal Policy
European Economy: Nowotny Demonstrates Pessimism
This year, the economy of the Eurozone will shrink, the governor of Austrian National Bank says. Austria suffers from a weak domestic consumption, Nowotny explains.
February 15, 2013
“Financial transactions tax promotes fairness”
According to Austria´s Minister of Foreign Affairs Michael Spindelegger, the financial transactions tax is strengthening the competitiveness in Europe through targeted reforms.
February 15, 2013
“Tax on financial transaction is a big achievement for Austria”
“Our perseverance has paid a dividend” Austria´s Minister of Finance Maria Fekter said.
February 14, 2013
Austria Concludes Agreement on the Prohibition of Speculation
Minister of Finance Maria Fekter, Secretary of State Andreas Schieder, Conference Governor Markus Wallner, President of the Austrian Association of Municipalities Helmut Mödlhammer signed the agreement on the prohibition of speculation.
February 14, 2013
Fekter pleased With “Good data on Austria”
Austria´s Minister of Finance Maria Fekter on Ecofin data: “We have some work to do on debt reduction and pension costs”.
February 13, 2013
S&P Downgrades Slovenia
Today, the U.S. rating agency has lowered the credit rating of the financially stricken country. Further downgrades are not unlikely.
February 13, 2013
Slovakia: Tax Intake to Decrease
Despite the higher income tax rates, the Slovak state revenues are expected to fall by € 360m this year.
February 12, 2013
Spindelegger: “Acceptable Result for Austria”
“For Austria, this result is not exactly a reason to be euphoric, but it is important both for Europe and for us that we have managed to reach an agreement.” Austria´s Minister of Foreign Affairs said.
February 12, 2013
Austrian Governing Parties Disagree on EU Budget
The Austrian people´s party (ÖVP) has criticized Federal Chancellor Werner Faymann (SPÖ). The social democrats argue that the coalition partner ÖVP has “no team sprit”.
February 11, 2013
Slovenia Faces New Elections
The Slovenian government is under massive pressure. A government collapse is more than likely.
February 11, 2013
Despite Budget Cut: Poland Receives More Money
“This is one of the happiest days of my life.” Poland´s Prime Minister Donald Tusk said.
February 11, 2013
Satisfying Fiscal Situation in Bulgaria
The 2012 budget deficit stands much lower than planned: 0.5% of GDP. Public debt falls after Eurobond repayment in January 2013, Raiffeisen Research analyzes.
February 11, 2013
“Not Enough Support for Growth and Competitiveness“
Georg Kapsch, President of the Federation of Austrian Industries criticizes that the EU budget does not contain enough future investments.
February 9, 2013
EU Budget: Poland Among Main Beneficiaries
Although the EU budget was cut, Poland will receive more EU-funds than in the current period.
February 8, 2013
2014 - 2020: Austrian Net Contributions Rise Substantially
In the financial period from 2014 to 2020, Austria loses almost the half of its discount. The net contributions total € 1.15bn per year.
February 8, 2013
Poland Underlines Necessity of Cohesion Funds
At the EU summit, Poland wants to secure as much cohesion payments in the next multiannual financial framework from 2014 to 2020.
February 7, 2013
Romania Privatizes Freight Division of National Railways
Romania´s government sells a 51% stake in CFR Marfa, the publicly held rail freight company.
February 6, 2013
„Hungary Needs Sustainable Reforms“
The IMF underline that the country must restore the confidence of international investors. At the moment, Hungary´s government is not forced to continue the talks with IMF.
February 5, 2013
Austrian Government May Put Veto Against EU Budget
Members of the Austrian government fear that Austria may lose its discount. The annual loss would come at more than € 180m.
February 5, 2013
„Croatia Has No Answer to the Crisis“
Economists fear that the economic crisis in Croatia will continue this year. The government does not implement enough reforms, observers say.
February 4, 2013
Tusk: “Poland Becomes a Full Member of the EU”
Poland´s Prime Minister Donald Tusk, Poland will join the Fiscal Pact. The conservative opposition rejects this step.
February 2, 2013
Austria´s Net Contributions to Brussels to Increase Significantly
At the moment, Austria´s net contributions come at 0.2% of GDP. From 2014 to 2020, the figure may increase to 0.36% of GDP.
February 2, 2013
Bulgaria: Public Debt to Decrease in 2013
According to the Bulgarian government, public debt will be reduced by BGN 600m in 2013. The public finance law has been adopted at the second reading.
February 2, 2013
Hungary: “EU funds to be spent on economic development”
In the 2014-2020 fiscal period of the European Union, Hungary will allocate the 60 percent of EU resources to stimulating growth and the development of the economy,
February 2, 2013
Bulgaria: Deficit Lower than Planned.
The budget balance under the Consolidated Fiscal Programme (CFP) for 2012 is negative, amounting to BGN 350.2 million, or 0.45% of the planned GDP.
February 2, 2013
Romania: „Long road to growth“
Most likely, economic activity was flat in Q4 2012. Available data tracking the dynamics of economic activity in Q4 2014 paint a mixed picture, Raiffeisen Research reports.
February 2, 2013
Moody´s Downgrades Croatia
The U.S. rating agency justifies the downgrade with the “bad economic outlook” and the “inflexible fiscal policy”.
February 2, 2013
Orban: „Agreement with IMF Unlikely“
According to Hungary´s Prime Minister Viktor Orban, the IMF tries to put pressure on Hungary.
February 1, 2013
Romania: „Ongoing fiscal consolidation in 2012“
According to Raiffeisen Research, Romania´s public finance begins to improve. However, the budget execution still shows some weaknesses.
February 1, 2013
Slovakia: Government Warns of Economic Slowdown
This year, Slovakia´s government expects lower growth rates than in 2012. Besides that, the austerity pressure is growing.
February 1, 2013
Fekter: "Our measures are having an effect"
Austrian Finance Minister Maria Fekter pleased regarding preliminary administrative budget deficit.
February 1, 2013
Austria: Budget Deficit Lower than Anticipated
The Austrian federal government's administrative deficit during 2012 was approx. € 7bn. Relative to the budgeted figure of approx. € 11.1bn, this represents a savings of approx. € 4.2bn.
February 1, 2013
Czech Republic: Disputes Over Fiscal Pact
In the Czech Republic, the ruling coalition parties do not have a common point of view.
January 31, 2013
Nowotny Underlines Improving Outlook
Ewald Nowotny, governor of Austrian National Bank (OeNB) stresses that not many countries were upgraded by the rating agencies in the last years.
January 30, 2013 · Updated: January 30, 2013; 18:34
Serbian Budget Deficit Lower than Expected
The government succeeded to achieve the 2012 budget deficit reading below the planned one, Raiffeisen Research reports.
January 30, 2013
Austria: Tax Convention Signed with Liechtenstein
Austria´s Finance Minister Maria Fekter: “A good day for Austria – through fair taxation”.
January 29, 2013
S&P Upgrades Austrian Sovereign Bonds
Finance Minister Maria Fekter on Standard and Poor's upgrade: "We are on the right path and our measures are showing results".
January 29, 2013
IMF Criticizes Hungarian Government
According to IMF, the economic outlook for Hungary is rather gloomy.
January 28, 2013
Fekter: “Tax Agreement Reached with Liechtenstein”
Austrian Minister of Finance Maria Fekter: "Another big step in the direction of greater tax equity".
January 26, 2013
WIFO: Austrian Economy to Grow Slowly
In the next years, Austria´s economy will recover gradually, the Austrian Institute of Economic Research says.
January 25, 2013
Slovenia: Jansa Rejects to Step Down
Despite the deep political and economic crisis, Slovenia´s Prime Minister Janez Jansa is clinging to power.
January 25, 2013
Tax Deal with Liechtenstein: Austria Expects Substantial Tax Intake
Austria and its small neighbor country Liechtenstein will sign a tax deal. The treaty between Switzerland and Austria is a role model.
January 24, 2013
Slovakia: Public Debt Quota Exceeds 50% of GDP
For the first time since 2000, Slovakia´s public debt level exceeds the 50% threshold.
January 24, 2013
Slovenia: Government Collapses
Yesterday in the evening, the conservative coalition member CL has terminated the co-operation with Prime Minister Janez Jansa´s party SDS. Not only the political situation in Slovenia is precarious, but also the economic outlook is highly uncertain.
January 24, 2013
IMF: Growth in CESEE Region to Accelerate
In the next three years, economic growth rates in central, eastern and southeastern Europe will return to the pre-crisis level, IMF says.
January 23, 2013
Slovenia: Protests Against Austerity Cuts
Due to a general strike, Slovenia comes to a standstill. More than 100,000 public servants protest against social cuts.
January 23, 2013
Erste Group´s CEO Wants to Create CESEE Stock Exchange
Andreas Treichl, CEO of the Austrian banking group, would like to create an alliance between CEE Stock Exchange Group (CEESEG) and Warsaw Stock Exchange (WSE).
January 23, 2013
Croatia: Austerity Policy Faces Difficulties
Croatia´s Minister of Finance Slavko Linic thinks that the austerity policy cannot be continued.
January 22, 2013
Slovakia Continues Austerity Measures
Slovak Minister of Economics Tomas Malatinsky underlines that the country must improve its attractiveness for businesses.
January 22, 2013
Austria´s Minister of Finance Pleased With Approval for Financial Transaction Tax
Participating States to present specific model soon, Maria Fekter says.
January 22, 2013
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