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
Fast News Search