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GDP Gross Domestic Product

Czech Republic: Rusnok to become CNB Board Member

Outgoing Prime Minister Jiri Rusnok will be appointed new board member of the Czech National Bank (CNB) by President Milos Zeman.

December 18, 2013

Czech Republic: Lowest Increase in Public Debts in 17 Years

According to the government’s Funding and Debt Management Strategy, public debt should exceed CZK 2,000bn by the end of 2016.

December 17, 2013

Bulgaria: Majority of Citizens Call for Early Elections

According to a poll, 80 percent of Bulgarians demand early elections.

December 17, 2013

Austria: Opening Balance Reveals Massive Mountain of Debt

Public debts exceed the federal assets by more than double the amount, as revealed by the opening balance published by outgoing Finance Minister Maria Fekter last weekend.

December 16, 2013

Poland: Budget Bill Approved by Lower House

On Friday, the Polish lower house Sejm approved next year’s budget bill which schedules the budget deficit of PLN 47.6bn not to be exceeded.

December 16, 2013

Romania´s GDP Growth to Slow Down

In 2014, Romania is expected to grow moderately. Compared to 2013, growth will decelerate. The recovery mainly depends on exports.

December 16, 2013

Croatia: Major Investments to Boost Economic Growth

The Croatian government on Thursday adopted an investment plan for 2014 which includes large-scale investments, amounting to as much as HRK 73.1 billion.

December 13, 2013

Poland: Growth May be Higher than Projected

Poland´s new Finance Minister Mateusz Szczurek thinks that the growth estimations for 2014 may be too cautious.

December 12, 2013

Austrian GDP per Capita Second-Highest in EU

In terms of GDP per capita, Austria is the second-richest EU country.

December 12, 2013

Hungary: Stable Outlook Yet Still Junk Status

In spite of Matolcsy, governor of the Hungarian National Bank (MNB), demanding a better rating for the country’s credibility, the major rating agencies have not raised them.

December 12, 2013

Bulgaria: Prime Minister Stresses Positive Development

Plamen Oresharski stressed that Bulgaria has performed better than expected in 2013.

December 10, 2013

Poland: Parliament Approves Nationalization of Pension Fund

Today, the Polish Lower House approved the controversial pension reform. With the reform, the Polish pension system will be partly re-nationalized.

December 10, 2013

Serbia: New Budget Turning Point for Economy

Next year’s draft budget is, according to Prime Minister Ivica Dacic the opportunity for a new beginning and a turning point in a responsible approach to running the Serbian economy.

December 9, 2013

Wifo: Austrian Economic Growth Still Sluggish

Seasonally adjusted and corrected for working day effects, GDP increased by 0.2 percent compared to the second quarter. The upturn becomes evident only in a very moderate pace.

December 9, 2013

Slovakia: Economy Accelerates Slightly

In the third quarter of 2013, the Slovak GDP year-on-year growth was up to 0.9%, according to the Slovak Statistical Office.

December 8, 2013

Economic Recovery in CESEE Supported by Exports

According to the GDP data for some Central and South Eastern European countries published today, economic recovery was backed by a strong increase in export activity.

December 5, 2013

Belka: Recovery Will Be Longer

According to Marek Belka, governor of the National Bank of Poland (NBP), the country’s economy sees a continuing and persistent recovery.

December 5, 2013

Moody's: ECB Rate Cut Does Little for Economic Growth

ECB rate cut to a record low 0.25% will likely do little to support economic growth, according to Moody's Analytics.

December 5, 2013

Czech Republic Remains in Recession

The Czech economy continues to shrink. Above all, private consumption and investments are weak.

December 5, 2013

Poland: Benchmark Rate Remains Unchanged

The Polish National Bank (NBP) holds the reference rate at its record low of 2.5%.

December 4, 2013

Bank of Albania Presses for Agreement with IMF

The Albanian economy from short-term adjustment toward long-term sustainable growth. Why Albania needs an agreement with the IMF.

December 4, 2013

Uniqa on Successful Growth Path in Bosnia and Herzegovina

Provisions increased by 15.2 percent in the first three quarters of the year and generated the second-highest growth rate. Moreover, the market share was extended to 12.2 percent.

December 3, 2013

Bratusek: Slovenia Will Manage Bank Rescue

According to Prime Minister Bratusek, Slovenia will manage the bank rescue on its own.

December 3, 2013

Austria: Debt Quota to Increase Slightly

Because of the new EU regulations the debt quota will increase by around 2.5 percent.

December 3, 2013

Poland: GDP Growth Speeds up

The long-awaited economic recovery starts to accelerate in Poland.

December 2, 2013

Croatia: Milanovic Promises Economic Recovery

Prime Minister vows that Croatia's economy will be put on a sounder footing.

November 28, 2013

Croatia: HNB Pushes Credits

According to reports by Reuters, the Croatian National Bank (HNB) intends to issue HRK 4bn (US-$ 707m) to support credits. Further details will be published by the Central Bank later this week.

November 27, 2013

Czech Republic: CNB Aquires Foreign Currencies

During monetary interventions CNB has purchased foreign currencies in the amoung of CZK 200bn.

November 26, 2013

Poland: IMF Corrects Growth Forecast Upward

Growth forecasts for next year were increased by 0.3 percent by IMF.

November 25, 2013

Szczurek: EU Funds to Create Growth

Poland´s designated Minister of Finance Mateusz Szczurek explained that EU contributions will be used to support Polish GDP growth.

November 23, 2013

Slovenia: Economic Growth Expected to Speed up Next Year

Economic growth is expected to accelerate next year.

November 22, 2013

Czech Republic: CNB Facing Investigations

Czech Senator Dryml ordered the head of counter-intelligence service (BIS) Jiri Lang to initiate investigations against the Czech National Bank (CNB).

November 22, 2013

Austria: Consumers Become More Cautious

Weak consumption is the main reason for the stagnation in Austria.

November 19, 2013

Hungary: NPLs at Record High

The number of NPLs has reached a new record high, according to MNB.

November 18, 2013

Bank Austria: Economic Recovery Continues

The Bank Austria Business Indicator provides an overview of the current economic situation in Austria.

November 18, 2013

Romania: Growth Leader in the EU

In the first three quarters, Romania´s economic growth rate reached 2.7%

November 16, 2013

Poland: Economy Accelerates Visibly

In the third quarter of 2013, Poland´s GDP growth reached 1.9%. In the EU, Poland´s growth rate is only beaten by the Baltic countries.

November 15, 2013

Slovenian Government Wins Vote of Confidence

As expected, on Friday the Slovenian center-left government of Prime Minister Alenka Bratusek has won a vote of confidence.

November 15, 2013

Czech President Sceptical about CNB’s Forex Intervention

Czech President Zeman expressed his reservations about the Central Bank’s latest forex interventions.

November 12, 2013

Czech Republic: CNB to Intervene in Forex Market

After the Czech koruna (CZK) was devalued, the Czech National Bank (CNB) is keen on preventing a deflation. However, the key rate cannot be cut anymore as it is close to zero.

November 11, 2013

Albania: Domestic Banks Struggling to Keep Up

According to a report by the European Bank for Reconstruction and Development (EBRD), the Albanian financial sector is dominated by foreign banks. Domestic banks are struggling to keep up with the internationally operating competition.

November 8, 2013

Serbia: Key Policy Rate Cut to 10 Percent

In its meeting on November 7, the NBS Executive Board voted to cut the key policy rate by half a percentage point, to 10 percent.

November 8, 2013

Czech Republic: Economic Outlook Improves

In its latest forecast, the Czech National Bank (CNB) has corrected the outlook on the Czech economy upward for the rest of 2013 while estimates for 2014 were slightly downgraded.

November 8, 2013

Croatia Under Brussel´s Observation

The new EU member country fights against a number of economic problems. Now, the EU-Commission considers starting an excessive deficit procedure.

November 7, 2013

Poland´s National Bank Holds Interest Rate Flat

In order to boost economic growth, the Polish Monetary Policy Council has left the interest rate unchanged.

November 6, 2013

Romania: Key Rate Cut Again

The most recent cut was the fourth in a row since the beginning of July. Experts forecast the rate cutting cycle to stop in the first quarter next year when the country’s key rate is supposed to stand at 3.5 percent.

November 6, 2013

Romania: Growth Rates to Exceed Forecasts

According to the autumn forecast published by the EU Commission on Tuesday, Romania will exceed the previous estimates.

November 6, 2013

Hypo Group: Restraining Effect on Budget Consolidation

According to the EU’s autumn prognosis, nationalized Hypo Group and its liabilities running in the billions still have a restraining effect on the Austrian budget consolidation.

November 5, 2013

Slovenia: Petition Against Real Estate Tax Initiated

On Monday, a petition against the planned real estate tax was initiated. In an attempt to reduce the massive fiscal shortfall, Slovenia is looking for new revenues. The property tax is supposed to bring about more than € 400m.

November 5, 2013

CESEE Region: Booming Exports Prevent Recession

The underlying reason for the improving economic sentiment in the CESEE region is the expanding industrial sector. However, the region remains vulnerable to foreign trade and foreign investments.

November 5, 2013