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Covid-19: Austria Ranks Second for Aid Measures in EU

According to recent calculations published by the International Monetary Fund (IMF), Austria ranks second for Covid-19 aid measures among all EU Member States. Only Greece has spent a higher portion of its GDP (13.7%) for aid instruments, while Austria invested 11.7 percent to relieve its businesses and people.
Yesterday
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Statistics Austria: Highest Public Deficit Since Records Began

Due to the Covid-19 pandemic, Austria has recorded its highest public deficit since the start of the record in 1954. The deficit in 2020 amounted to 8.9 percent of the GDP (EUR 33.2 billion), which was caused by a sharp increases in government spending and a decrease in government revenue.
April 1, 2021
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Austria's Economy Is Far Behind EU Average

According to the latest numbers issued by the EU's statistics office Eurostat, the gross domestic product of the EU fell by 0.6 percent in Q4 2020 compared to the third quarter of the same year. Austria, however, has performed the worst out of all EU member states and saw a GDP decline of 4.3 percent.
February 17, 2021


Austria's and EU's GDP Forecast Gives Hope

In the EU winter forecast for the level of economic output in the near future, Austria's and the whole Euro area's GDPs are said to grow by almost 4 percent in 2021 and 2022. Although the economies declined in the fourth quarter of 2020 and first quarter of 2021 due to the impact of the second wave, the economic outlook is still promising for the remainder of 2021 and 2022.
February 12, 2021
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Eurostat: Austria Is Second in EU With Research Expenditures

In its recent publication, the statistical office of the European Union, Eurostat, put Austria on second place for research expenditure relative to GDP. Austria has invested 3.19 percent of its gross domestic product in R&D, which is only surpassed by Sweden with 3.39 percent of the country's GDP.
November 27, 2020


Austrian National Bank: Exports Increase Again

Exports, excluding tourism, were above the comparable figures from 2019 for the first time in Austria since the outbreak of the Covid-19 crisis. The Austrian National Bank is confident that a second wave can be contained and that no further monetary or fiscal policy measures are needed.
October 21, 2020
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Federal Chamber of Commerce: Lockdown Is Unthinkable and Needs To Be Avoided

The heads of the Federal Chamber of Commerce emphasize the importance of avoiding a second lockdown due to rising Covid-19 cases in Austria. They also demand further support measures for the economy and particularly hope that the EU approves the planned fixed cost subsidy.
October 9, 2020


Schramböck: "Every New Infection Is a Potential Danger for the Business Location"

Federal Minister for Economic Affairs Schramböck empasizes the importance of low infection rates for the business location. She demands more rigid measures for Vienna, which is currently the Covid-19 hotspot in Austria.
October 5, 2020


Public Deficit Amounts to 9.4%, Public Debt to 82.6% of GDP in First Half Year of 2020

Austria's government has lost its successful path to a lower public deficit due to Covid-19. In the first half year of 2020, the public deficit amounted to 9.4% while public debt rose to 82.6%. The outlook for the second half of 2020 is not much better and an increase of public debt is expected.
September 30, 2020
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Austrian Economy Slumped by 12.1% in Q2 2020

The newly published report by Statistics Austria shows a massive economic slump in the second quarter of 2020. Austria's GDP declined by more than 12 percent compared to the second quarter of 2019 while expectations for the last two quarters of the year are not much better.
September 28, 2020


Economic Sentiment in Austria and the EU Brightened Further in August

Businesses and the population of the EU still have below-average economic sentiment although the expectations improved over the last month. The sharp decline due to Covid-19 is made up by about 60 % already.
August 31, 2020
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Vienna Based UNIDO Holds Expert Panel to Discuss Developments in Industry and Society

The United Nations Industrial Development Organization hosted an expert panel about the future of industry and society. Main topics were the advancement of attaining the sustainable development goals and shaping society as a whole.
August 21, 2020


Boyden Partners Met in Vienna to Discuss Emerging Markets Strategies

The annual global Boyden conference took place in Vienna. Despite the current political crisis in Ukraine the headhunting company sees good prospects of Austrian enterprises and managers.
May 23, 2014


Lithuania Locomotive for Baltic States

Among the three Baltic conomic growth saw the highest increase in Lithuania.
May 12, 2014
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Hypo Group: Shady Deals with Balkan Diplomats

The Austrian problem bank Hypo Group has troubles recovering debts.
May 3, 2014


Fitch Upgrades Rating for Slovenia

Fitch Ratings has revised the Outlook on Slovenia's Long-term foreign and local currency Issuer Default Ratings (IDR) to Stable from Negative and affirmed the IDRs at 'BBB+'.
May 2, 2014
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EU Enlargement: A Success Story for Central Europe

Austria is one of the main beneficiaries of the EU enlargement of 2004.
April 30, 2014


Spindelegger: “Arsonists Are to Blame Not Fire Brigade”

The downsizing of ailing bank Hypo Group Alpe Adria is a heavy burden for this year’s budget. According to Finance Minister Spindelegger, the deficit comes at 2.7 percent of GDP while public debts will soar.
April 29, 2014


Hypo Group: Huge Burden for Austrian Budget

The downsizing of problem bank Hypo Group Alpe Adria is a huge burden for this year’s budget.
April 29, 2014
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Serbia: New Government Taking Drastic Measures

New head of the Serbian government Aleksandar Vucic has ambitious plans to reform the state and restructure state finances.
April 28, 2014


Poland: Budget Deficit Soaring

Last year the budget deficit amounted to 4.3 percent of GDP.
April 17, 2014
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Poland: Excessive Deficit Procedure for Two More Years

The Polish government expects the EU Commission to cancel the Excessive Deficit Procedure in “less than two years” due to the measures applied so far the continuing of economic recovery.
April 16, 2014


S&P Upgrades Polish Banking Sector

Rating agency Standard & Poor’s has upgraded the Polish banking sector from “negative” to “stable”.
April 16, 2014


Serbia: “Radical Measures” Needed to Tackle Grey Economy

Experts call for higher penalties to make tax evasion and gray economy less profitable and establish financial discipline.
April 14, 2014
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Vucic: “Not Afraid of Social Riots”

The future Prime Minister of Serbia underlined the necessity of reforms.
April 10, 2014


Poland: Growth Forecast Raised Again

The International Monetary Fund has raised the forcast of GDP growth in Poland.
April 9, 2014
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IMF Upgrades Growth for Slovenia

In its latest report the International Monetary Fund has raised its projection for GDP growth in Slovenia.
April 9, 2014


Austria: Government Wants “Restrictive Budget Performance”

Today the Austrian government has decided upon a “restrictive budget performance.
April 8, 2014


Fitch: Polish Rating Foundations Very Solid

As reported by news portal “Warsaw Voice”, rating agency Fitch considers the Polish credit rating foundations to be very solid.
April 8, 2014
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Hypo Group: Heavy Burden for Austrian Fiscal Position

The Austrian National Bank, however, expects the structural medium-term budgetary objectives to be achievable.
April 7, 2014


Poland: No Danger of Deflation

According to Marek Belka, governor of the National Bank of Poland (NBP), there is not threat of deflation.
April 7, 2014
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Hungary: Clear Victory for Orban

Today, Hungary has held parliamentary elections. Despite controversial and radical reforms, Prime Minister Orban was confirmed.
April 6, 2014


Czech Economy Recovers Slowly

In 2013, the Czech GDP was down for the second consecutive year. This year, the Czech economy is expected to expand by 1.4%.
April 5, 2014


RBI: Economic Recovery Despite Geopolitical Tensions

Economic upswing vs. geopolitics.
April 4, 2014
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CEE: Economy Could Become More Vulnerable to Crimea Crisis

If the political crisis in Crimea aggravates negative effects in the economy could soon become evident.
April 2, 2014


Czech Republic: Euro Support Still Weak

Almost a quarter of Czech citizens support the idea of joining the single European currency union.
April 2, 2014
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Hungarian Recovery Remains Shaky

Last year, Hungary´s government successfully managed the economic turnaround. Nevertheless, Hungary´s growth remains artificial.
March 31, 2014


Austria: State Revenues Increased

In 2013 the Austrian budget deficit came at 1.5 percent of GDP wile public debts increased to 74.5 percent of GDP.
March 31, 2014
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Leitl: “Growth Must Not Mean Less Reforms”

Economic growth is now weaker than in the previous phases of upturn.
March 28, 2014


Poland to Fulfill EU Commission’s Regulations

According to Polish Finance Minister Mateusz Szczurek, Poland will have no difficulties fullfilling the standards set by the European Commission with regard to the budget deficit.
March 27, 2014
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Austria: Economic Growth Slowly Getting in Gear

Wifo (Austrian Institute of Economic Research) projects economic growth in Austria to revive again only at the end of this year.
March 27, 2014


Hungary: Orban Striving to Become PM Again

In an attempt to gain another four years as head of the government Hungarian Prime Minister Viktor Orban praises the country’s achievements in the past years since his Fidesz party came into power.
March 26, 2014


Poland: Pension Reform Not to Affect Rating

According to rating agency Fitch, Poland’s country rating will not be affected by the pension reform.
March 25, 2014


Slovenia: Confusion over Real Estate Tax

The deadline for real estate owners to prepare for the new real estate tax has been extended by a month.
March 19, 2014


Wifo Warns European Council of Economic-Policy Standstill

The Austrian Institute of Economic Research sharply criticizes the current economic policy of the European Union and calls for a change of course to reach the self-defined targets.
March 19, 2014
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Low Inflation Still No Threat to CEE

Currencies in CEE should not be affected by low inflation, according to Erste Group.
March 19, 2014


Austria: Carinthia Forced to Pay for Hypo Group

Finance Minister Michael Spindelegger announced wanting to include the federal province of Carinthia to participate in the downsizing costs for ailing bank Hypo Group Alpe Adria. Austerity measures are “inevitable”.
March 17, 2014


Serbia: Landslide Victory for Vucic

After Deputy Prime Minister Aleksandar Vucic’s party saw an overwhelming victory in the early parliamentary elections the new government is facing a hard road ahead.
March 17, 2014


Slovenia: Banking Sector Still Prone to Risks

The Slovenian banking sector is still prone to risks as the number of non-performing loans was not reduced substantially.
March 14, 2014
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