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Fiscal Policy
Fico: „Privatizations Were Our Biggest Mistake“
Slovakia´s Prime Minister Robert Fico thinks that the austerity policy in Europe is the wrong way.
January 21, 2013
WIFO Wants Higher Property Taxes
Karl Aiginger, director of Austrian Institute of Economic Research, suggests reducing wage taxes.
January 21, 2013
Poland´s Rating Not Endangered
According to the U.S. rating agency Fitch, Poland´s “A-“ rating is “robust”.
January 21, 2013
Vienna Airport Customs Office: Number of Seizures Was Up Significantly
"The Vienna Airport customs office’s annual announcement of its performance statistics once again confirms the outstanding work of Austria’s customs officials." the Austrian Ministry of Finance says.
January 21, 2013
Czech Republic: Both Presidential Candidates Want to Join Eurozone
Unlike the outgoing President of the Czech Republic Vaclav Klaus, Milos Zeman and Karel Schwarzenberg are in favor of the euro.
January 19, 2013
Poland: Credit Line Renewed
The IMF guarantees a credit line of € 26bn to the Polish government.
January 19, 2013
IMF to Visit Serbia Again
The International Monetary Fund underlines that Serrbia must reduce its public debt. At the same time, the government must stimulate economic growth, IMF says.
January 18, 2013
OeNB: Austrian Economy Returns to Growth
Today, Austria´s National Bank (OeNB) has presented the results of the economic indicators.
January 18, 2013
Hungary Wants Tax Treaty with Switzerland, Germany and Austria
Hungary tries to levy a lump sum tax on deposits of Hungarian nationals in Switzerland, Germany, Austria, the UK and Cyprus.
January 17, 2013
Nowotny: “The Worst Is Over”
OeNB´s (Austrian National Bank) governor Ewald Nowotny thinks that the economic situation in the Eurozone has become more stable.
January 16, 2013
New Elections in Slovenia?
The government crisis in Slovenia sharpens. Economists warn of a leftist coalition.
January 15, 2013
Fekter to Present Tax Reform Concept
In May, Austria´s minister of finance Maria Fekter (ÖVP) will present a new fiscal concept.
January 14, 2013
Austria: Public Debt Has Reached New High
At the end of 2012, Austria´s financial debt has totaled € 189.5bn. Against 2011, this is an increase of € 6.5bn.
January 12, 2013
Only Small Budget Deficit in Bulgaria
The cumulative balance remained at -0.1% of GDP. Bulgaria only records a minor deficit of BGN 31m, Raiffeisen Research reports.
January 12, 2013
Moody´s: Slovak Austerity Plans Not Realistic
According to the U.S. rating agency, the deficit reduction plan may be too ambitious.
January 10, 2013
Serbia: Public External Debt Shrinks
In total, public debt grew by 1% in the third quarter of 2012. The debt-to-GDP ratio falls slightly.
January 10, 2013
Lithuania´s Financial Assets Growing Substantially
In the third quarter of 2012, the annual growth rate of Lithuania’s financial assets (6%) exceeded that of liabilities (5%).
January 10, 2013
Serbian Government Emphasizes Need of Austerity
The government in Belgrade has prepared a fiscal consolidation program. In the next years, the public debt quota is expected to decrease slightly.
January 10, 2013
Slovenia to Cut Corporate Tax Rate
In order to improve the labor market situation, the Slovenian government has decided cut the corporate tax quota by three percentage points.
January 9, 2013
Austrian Government Bans Speculation
Austria´s Federal government, Austrian provinces and municipal authorities reach agreement on a speculation ban. Finance Minister Maria Fekter: “Comprehensive Package of measures to combat speculation with tax revenues.
January 7, 2013
Croatia Faces Stagnation
Last year, Croatia´s economy shrank substantially. In 2013, the country will recover, economists say.
January 5, 2013
Poland Plans Bank Taxes
The Polish government considers introducing bank taxes in order to stabilize the banking sector.
January 4, 2013
„No Tax Reform Before 2016“
Christoph Leitl, President of the Austrian Chamber of Commerce, emphasizes that the government should focus on austerity measures.
January 4, 2013
Poland: Government to Focus on Family and Employment
Poland´s Prime Minister Donald Tusk announced that the government aims to create more than 400,000 jobs this year.
January 4, 2013
Hungary: Dissatisfaction Grows
More than the half of the Hungarians is dissatisfied with the country´s government.
January 3, 2013
“Eurobonds Are Wrong Signal”
2013 - After crisis management it is now time to tackle issues of the future, Austria´s Ministry of Foreign Affairs says.
December 31, 2012
Equity Market: Erste Group Cautiously Optimistic
Earnings are expected to grow again, but vulnerabilities remain. The global debt crisis remains unsolved, Erste Group says.
December 29, 2012
Favorable Economic Outlook for Croatia
After a severe setback since 2009, the country is expected to register substantial growth rates again, Erste Group says. Above all, the EU accession is expected to boost the country´s economy.
December 28, 2012
Nowotny Puts Pressure on Austrian Government
Ewald Nowotny, governor of Austrian National Bank (OeNB) wants the Austrian government to continue the austerity course.
December 28, 2012
Austria´s Public Debt Level Continues to Increase
The quarterly government debt quota in the third quarter of 2012 has reached 73.7% of GDP. In total, the debt volume reaches € 227bn.
December 28, 2012
Czech Republic Does Not Fulfill Maastricht Criteria
At the moment, joining the eurozone is no issue for the Czech Republic. The stability criteria are still not fulfilled anyway.
December 28, 2012
Lithuania: Budget Finally Approved
Lithuania´s President Dalia Grybauskaite confirmed the 2013 budget.
December 28, 2012
Hungarian Government „Do Not Need Help from IMF“
Hungary´s Minister of Economics György Matolcsy argues that his country has never needed a loan from the IMF.
December 22, 2012
Czech Parliament Resolves VAT Increase
After months of controversies, the Czech Chamber of Deputies approved the government´s taxation plans.
December 21, 2012
Slovakia: Budget Deficit Comes at 4.6%
This year, the Slovak budget deficit is expected to be significantly beyond the Maastricht criteria.
December 20, 2012
Slovenia: No Referenda Against Austerity Policy
The Slovenian Constitutional Court decided that the Slovenians will not hold a public vote on the creation of a bad bank and the privatization policy.
December 20, 2012
Ukraine: Fiscal Policy Faces Unsolved Problems
The budget draft for 2013 provides no room for the fiscal consolidation, which looks incompatible with the IMF requirements.
December 19, 2012
Komorowski: “Poland Needs Euro”
Poland´s President Bronislaw Komorowski wants his country to join the Eurozone. Now, the government has to convince the people, he says.
December 19, 2012
Slovenia: Citizens Protest Against Austerity Cuts
The austerity policy of the centre-right government faces fierce resistance by the trade union and citizen´s movements.
December 18, 2012
Public Debt Committee Warns Austrian Government
2013 will be dangerous for Austria´s austerity course, the economist Bernhard Felderer says.
December 18, 2012
Ukraine: Reform Pressure Grows
Mykola Azarov is reappointed as Prime-minister, facing tough challenges ahead, Raiffeisen Research states.
December 18, 2012
S&P Downgrades Croatia
Croatia´s Minister of Finance Slavko Linic does not exclude that Croatia needs support from the IMF next year.
December 17, 2012
Bulgaria: Budget Deficit Ahead
The January-October budget balance moves to negative territory (-0.1% of GDP), Raiffeisen Research says.
December 17, 2012
Lopatka: “Communitisation of debts is the wrong message”
State Secretary Lopatka lacks understanding for proposals made by Federal Chancellor Faymann.
December 17, 2012
WIFO: South Europe Needs New Industrial Policy
The Austrian Institute of Economic Research (WIFO) stresses that Spain, Greece and Portugal need new growth measures instead of austerity cuts.
December 15, 2012
Austrian Municipalities: Real Deficit Ahead
Until 2016, Austrian municipalities expect that the financial resources for investments and debt reduction will decrease.
December 14, 2012
“Eurozone More Stable Now”
Banking union and rescue umbrella making a substantial contribution to Eurozone stabilization, Austria´s Minister of Finance Maria Fekter says.
December 14, 2012
Hungary: Financial Transaction Tax May Increase
As the tax proceeds are behind the government´s expectations, the controversial tax may increase
December 13, 2012
Austrian Banking Package: Losses total € 1.9bn
According to Austria´s Financial State Secretary Andreas Schieder, preliminary losses of the banking package come at € 1.9bn. Further losses are expected.
December 13, 2012
Hungary Resolves 2013 Budget
Today, Hungary´s Parliament approved the budget for 2013, which contains a number of tax increases. According to critics, the budget will not hold.
December 12, 2012