GDP Gross Domestic Product

Faymann: Joint Combat against Unemployment

During a meeting with Slovenian Prime Minister Bratusek and Croatian Prime Minister Milanovic and Austria’s second biggest city Graz, Austrian Chancellor Faymann pointed out the governments’ key tasks.

August 23, 2013

Romanians Not Satisfied with Wages

More than half of Romanian employees claim not to be paid enough for their work.

August 22, 2013

Poland: Budget Amendment Passed in Parliament

In order to adapt to the slow economic growth the government has amended the budet by permitting this year’s budget deficit to increase to PLN 16bn as well as approving PLN in spending cut, as announced at a press conferenced on Tuesday.

August 21, 2013

Ukraine Remains in a Recession for a Year

In the second quarter of 2013 GDP contracted by 1.1 percent on a year-on-year comparison basis.

August 20, 2013

Slovenia to Expand Bank Stress Test

Instead of formarly three, ten banks are now supposed to be subjected to a stress test. Results are expected until the end of the year.

August 19, 2013

Russia: Stable Outlook, Lower Growth Rates

The rating agency Fitch reiterates the “BBB” rating for Russia. The outlook remains stable. However, Russia´s GDP forecast had to be lowered.

August 17, 2013

Bulgaria: Parliament Outvoted Presidential Veto Against Budget

With the support of the nationalists, the government has won over the Bulgarian President Plevneliev, who intended to avoid higher public spendings.

August 16, 2013

Romania: GDP Slowed Down in Second Quarter 2013

Romania: GDP slowed down in Q2, as expected by RBI.

August 16, 2013

Czech Republic to Crawl out of Recession

In the second quarter the Czech economy grew by 0.7 percent compared to the first quarter.

August 15, 2013

End of Recession Supports Stock Exchanges in Europe

The Eurozone seems to have finally left recession behind. This is one of the reasons why markets closed trades with a plus on Wednesday.

August 15, 2013

Eurozone: GDP Grew Slightly

Euro area and EU27 GDP both up by 0.3% -0.7% and -0.2% respectively compared with the second quarter of 2012.

August 14, 2013

New Erste Group Loan Contributes to La Fantana Recapitalization

La Fantana, the leading bottler and distributor of water in Romania, announced it has successfully raised EUR 34mn in debt financing. La Fantana is controlled by private equity funds managed by Innova Capital.

August 13, 2013

Romania: Significant Drop in Purchase Power

General consumption climate is unfavorable in Europe at the moment.

August 12, 2013

Poland: Amendmends in 2013 Budget

Upper house approves law suspending fiscal restraints at 50 percent debt threshold

August 12, 2013

Commerzbank: Austria to Miss Budget Goals

Without a new austerity package, Austria will run up more debts than calculated in the bugdet plan, German Commerzbank says. The country’s AAA ratings are likely to decrease.

August 12, 2013

Romania: Good Prospects for Economic Upturn

In Romania, the inflation forecast for 2013 and for 2014 has been lowered to 3.1 percent which is 0.1 percent less compared to previous figures.

August 9, 2013

Slovenia: Stakes of at Least 80 Enterprises

The Slovenian state owns shares in at least 80 companies directly or indirectly.

August 8, 2013

Poland: Slow, but Steady Progress

Poland´s National Bank anticipates a longer term of interest rate stabilization. The economic trend reversal will come in the third quarter, rate setter Andrzej Bratkowski stated.

August 2, 2013

Russia: Consumer Debt Grows Persistently

Russia´s Central Bank wants to stop the increasing debt servicing costs for Russian households.

August 2, 2013

Romania’s Economic Recovery Expected to Strengthen.

Staff teams from the International Monetary Fund (IMF), the European Commission (EC), and the World Bank visited Bucharest Romania during July 17–31.

August 1, 2013

Czech Republic: Unwilling to Join Eurozone?

In 2012, the country missed two out of four criteria for the introduction of the single currency. According to the statistical office it was the worst result in five years. It is not yet clear when the Czech Republic is ready to join the Eurozone.

July 31, 2013

Romania: Drop of VAT on Bread and Baked Goods

Around 70 percent of Romanian bread and baked goods are sold on the black market. A drop in VAT is supposed to change that.

July 31, 2013

Slovenia Likely to Overcome Problems in Banking Sector

Slovenia’s problems in banking sector are controllable, according to experts.

July 31, 2013

Bulgaria: Danger of Policy Drifting

Bulgaria's fundamentals are strong but politics suggest policy drift.

July 31, 2013

Poland: Estimates for 2014 Lowered

Forecast by IbnGR: Poland's GDP will grow 1.2 percent in 2013 and 2.6 percent in 2014.

July 30, 2013

Russia: Stronger Regulations for Market for Consumer Loans

Business with consumer credits have started comparatively late in Russia. Now, the market is supposed to be regulated further.

July 29, 2013

Slovenia: Economy to Shrink Despite of Austerity Measures

Slovenian economy expected to contract 2.2 percent in 2013. Prior forecast: -1.9 percent.

July 26, 2013

Bulgaria: Signs of Economic Recovery

Bulgaria services sector marks the highest growth of FDI

July 26, 2013

Latvia: Saying Goodbye to the Lat

The introduction of the Euro in the Baltic country has been postponed due to the financial crisis. Latvia originally planned to join the single currency union in 2008 already.

July 26, 2013

Czech Republic to Remain in Recession

The Czech economy will, according to the Finance Ministry in Prague, shrink by 1.5 percent and only start growing again in 2014 by 0.8 percent.

July 26, 2013

Fekter: Debt reduction and tax reform are our absolute priorities

"We are on the right track"

July 25, 2013

Poland: First Signs of Recovery from Crisis

Deputy Finance Minister Janusz Cichon expressed his optimism about the country’s soon economic recovery via Twitter by referring to Poland’s industrial performance and retail sales in the last month.

July 25, 2013

Bulgarian Protests As Sign of New Understanding of Values

The great wave of protests in Bulgaria continues to sweep the country. Experts regard the demonstrations as a sign of a new understanding of values.

July 25, 2013

Orban: Not Joining Eurozone in the Next Ten Years

Hungary´s Prime Minister thinks that his country should not become a member of the euro area in the medium term.

July 23, 2013

Croatia Receives Major Loan from EIB

The European Investment Bank grants a € 250m loan for the new EU member.

July 23, 2013

Russia: Recession Not Excluded Anymore

Above all, Russia suffers from a shrinking industrial sector and a decline in foreign direct investments.

July 22, 2013

Poland: Budget Deficit to Peak in 2013

This year, Poland´s budget deficit is expected to reach 4.4% of GDP. The country still has a stable public sector, Moody´s comments.

July 22, 2013

Russian Economy Shows Insufficient Diversification

The Russian economy is primarily based on commodities, economists at the Moscow Higher School of Economics report. In the medium term, Russia has no growth potential, the experts say.

July 18, 2013

Polish Government to Leave Austerity Path

In order to boost Poland´s economic growth, the government wants to ease the fiscal discipline.

July 17, 2013

Austria: Most Risks Do not Come from Eurozone

The greatest risks threatening a continued economic recovery in Austria currently stem from the global economic trend and, to a lesser extent, from the Eurozone, Ban Austria reports.

July 17, 2013

CNB Expects Croatian GDP to Contract Remarkably

The Croatian National Bank forecasts a GDP decline of 1.0% in 2013.

July 17, 2013

Russia Only Posts Moderate Growth Rates

Russian economists forecast that the Russian GDP will grow by 1.6% this year. This is substantially below the growth rate of 2012.

July 16, 2013

Poland: Economic Upswing not before 2014

Poland´s National Bank NBP expects that the country´s economic performance will not improve visibly this year.

July 16, 2013

Austrian GDP Growth Above European Average

In 2012, Austria saw a growth of GDP of 0.9 percent which is signifantly above the European average.

July 12, 2013

Czech Republic: Gloomy Prospects for Economy

The Czech economy is shrinking. According to experts, new Prime Minister Jiri Rusnok will not be able to change much. Enterprises have started to cut back on investments.

July 12, 2013

Fekter: Capital Aids for Hypo Included in Next Budgets

Finance Minister Maria Fekter sticks to it: „We will reach a zero deficit in 2016 and have a slight surplus in 2017,”she announced during the presentation of the economic report 2013 on Wednesday.

July 11, 2013

Austrian Economy Dependent on Neighbor Countries

Austria’s economy is getting through the crisis better than the Eurozone. However, the country owes this partly to neighboring countries.

July 11, 2013

IMF Downgrades Growth Prognosis for Eurozone

According to the International Monetary Fund (IMF), the prospects of growth in the Eurozone are still positive. However, they are not as good as in April. Germany and Austria are concerned as well.

July 10, 2013

Spindelegger: Fitness Program for Austria

Austrian economy supposed to be boosted by reforms of “Unternehmen Österreich 2025, and a rejection of new taxes.

July 10, 2013

Latvia: Joining the Eurozone

Lativa is becoming the 18th country in the Eurozone. The EU Economy and Finance Ministers have given their green light for the admission.

July 9, 2013
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