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GDP Gross Domestic Product

Serbia Considering Loan Agreement With IMF

Serbia is considering discussing a possible IMF loan after EU entry talks are agreed on. German Finance Minister Guido Westerwelle announced his support in Serbia’s path to an EU membership.

May 21, 2013

Slovenia Hoping for Soon Recovery

Crisis-struck Slovenia intends to make more room financially by starting to privatize its state-owned banks. Experts regard the process to be carried out too slowly.

May 21, 2013

Poland Pressed to Cut Rates

IMF urges Poland to further cut rates.

May 17, 2013

Poland: Economy Not to Recover Before July

Polish economy is not expected to rebound as soon as the second half of this year and only on the condition that export partners see a growing GDP rate.

May 15, 2013

Austrian Economy Still Stagnating

The Austrian economy has been stagnating for a year and has avoided recession only just.

May 15, 2013

CEE/CESEE: Banking Sector on Fastlane

The banking sector in CEE continues to outperform its Western European counterpart.

May 13, 2013

Slovenia Likely To Require More State Funds Than Expected

According to Morgan Stanley, the Slovenian national treasury will need a further amount of € 11bn until 2016. Slovenian Finance Minister Cufer is expected to present the new program in Brussels today.

May 13, 2013

Slovenia to Raise VAT and Sell 15 State Enterpises

Slovenia has announced to put 15 state companies up for sale and raise VAT in order to acquire revenues and avoid international bailout.

May 10, 2013

EU Commission: Action Plan for Steel Industry in Europe

During his visit to Linz, EU Commissioner for Industry and Entrepreneurship Antonio Tajani announced measures for the steel industry in Europe.

May 7, 2013

Serbia: „Dependent on EU“

Serbia hopes to be able and make the next steps toward an EU membership.

May 7, 2013

Commission: European Economy to Stabilize in First Half of 2013

The economy is projected to return to growth in the second half of 2013. However, annual GDP is forecast to contract by 0.1% in the EU and 0.4% in the eurozone.

May 7, 2013

Success for Slovenian Bonds at US Market

Slovenia was able to gain some of the required funds for the restructuring of its banking sector through the US bond market.

May 3, 2013

Czech Republic to Improve EU Relations?

Visits from high EU officials should herald the start of a new era in the relation between the Czech Republic and the EU.

May 3, 2013

Lopatka: „Poland Important Economic Partner and Ally of Austria in EU“

Austrian State Secretary encourages bilateral relations and trade between the two Central European countries as well as improved relations between EU and US.

April 30, 2013

„Slovenia Can Manage On Its Own“

In an interview with Austrian newspaper Kurier, President of the Slovenian Bankers Association France Arhar stresses that Slovenia is not the new Cyprus.

April 29, 2013

Tax Burden: Austria Above EU Average

The overall tax-to-GDP ratio in the EU27 up to 38.8% of GDP in 2011. Labour taxes remain major source of tax revenue.

April 29, 2013

Poland: Public Deficit Targed Missed

Rowstowski does not expect the excessive deficit procedure to be lifted.

April 24, 2013

Slovakia: R&D Spendings Low But Increasing

Compared with other countries, Slovakia’s R&D spendings are little but slowly and steadily they are increasing. Among the countries with the highest growth rates of R&D spendings, Slovakia ranks 5th.

April 22, 2013

Eurozone: Government Deficit Decreased to 3.7 % in 2012

Euro area and EU27 government deficit at 3.7% and 4.0% of GDP respectively. Government debt at 90.6% and 85.3%

April 22, 2013

EU27: Surplus of € 21.8bn in Last Quarter of 2012

Second estimate for the fourth quarter of 2012 EU27 current account surplus 31.4 bn euro 36.2 bn euro surplus for trade in services.

April 19, 2013

Rehn: Slovenia Has to Take Actions Immediatly

EU official presses Slovenia to restructure its banking industry to evade bailout.

April 19, 2013

Forbes: “Austere Baltic States Outgrow Their European Neighbors”

Forbes magazine has dedicated a comprehensive article about how the Baltic countries manage to conquer the financial crisis.

April 17, 2013

Poland: Favorable Forecast Despite of Recession in 2013

Poland’s economy is the biggest among the younger member states and continues to grow even with the current recession.

April 17, 2013

Moody’s Confirms Bad Outlook for Slovakia

Ongoing difficulties and slow economic growth in Eurozone are the main factors.

April 17, 2013

Slovenia to Emerge From Quagmire By Itself?

A recent report by the OECD paints a dim picture of the country’s economic future.

April 17, 2013

Austria’s Economy Grows Faster Than Eurozone

Economists of the International Monetary Fund (IMF) are confident for a positive development of Austria’s economy.

April 16, 2013

Convergence Programme in Hungary: Faster Growth, Lower Deficit

The updated Convergence Programme covering the period 2013-2016 projects faster growth and a lower deficit for the upcoming years.

April 16, 2013

Czech Republic: Finance Ministry Worsens Economic Outlook

In an updated macroeconomic forecast for the economic development, the Czech Finance Ministry deteriorated the country’s outlook.

April 16, 2013

New Fiscal Rules in EU Six-Pack to Benefit CEE5

New fiscal rules should reduce risk of self-defeating austerity. There is no need for CEE countries to raise taxes if they stick to growth-friendly policies and cap real increase of expenditures below 1%.

April 15, 2013

Slovenia to Sell Two State Enterprises

On a press conference on Friday, Prime Minister Bratusek announced the selling of two state-owned companies, one of them being a bank.

April 13, 2013

Austria: Congress City Vienna - Record Results in 2012

Austria's capital city is not only a favourite destination for tourists but also a hit with the congress and conference sector.

April 12, 2013

Cyprus: Bail-Out Package More Expensive Than Thought

The aid-money needed increases from € 17.5bn to € 23bn, according to Cyprian government.

April 11, 2013

Bulgaria: Commission Forcasts Economic Imbalances until 2015

EU Commission: Trend of reducing imbalances in Bulgarian economy is confirmed

April 11, 2013

Favorable Outlook on Estonia’s Economy

Estonian economy’s consistent growth will continue in the coming years

April 11, 2013

Cyprus to Sell Gold Reserves

The country has to sell reserves in the amount of € 400m. In the meantime, the banking sector has been cut down to one half of its former size.

April 10, 2013

Fitch: Poland Best Placed For Economic Recovery

In a statement regarding a report on the need of structural reforms in the CESEE region, rating agency Fitch awarded Poland the best position for an economic recovery among five countries.

April 9, 2013

Austria: Unemployment Rate to Remain High

According to AMS, the public employment service in Austria, the unemployment rate will stay on the high level it shows right now. The labor market situation will only ease in 2016.

April 8, 2013

Russia: Economic Growth Below Expectations

The Russian economy is flatlining. The government and the Central Bank of Russia (CBR) blame each other for the current state of affairs.

April 8, 2013

Matolcsy’s Program Evokes Mixed Feelings.

During a press conference on Thursday, April 4, new Govenor of Hungarian National Bank (MNB), György Matolcsy presented some of the “creative financial market instruments”.

April 6, 2013

Russia: Refinancing Rate Expected to Be Cut

The Central Bank of Russia (CBR) estimates inflation risks higher than a slow economic growth. However, the refinancing rate is expected to be lowered soon.

April 3, 2013

Hungary: Public Deficit Amounted to HUF 166.6bn in Q4/2012

The deficit of the general government sector was HUF 566.7 billion in 2012, 2.0% of GDP according to data reported to the EU on 29 March 2013 under the Excessive Deficit Procedure (EDP).

April 3, 2013

Serbia: GDP Decreased by 1.7 % in 2012

Based on data released by the Statistical Office, GDP fell by 1.7% in 2012. Broken down by quarter, real y-o-y GDP fell by 2.7% in Q1, 0.3% in Q2, 2.1% in Q3 and 2.0% in Q4.

March 30, 2013

Hungary: Economic Growth Only in 2014

The MNB, the National Bank of Hungary estimates economic growth to further stagnate in 2013 but forcasts positive devolopments for the next year.

March 29, 2013

Czech Republic: Disinflation Continues

Analysts expect Czech economy to grow by 1.7 % next year.

March 29, 2013

Slovenia: Situation For Banks Still Shaky

According to the National Bank, the new government in Slovenia needs to avoid becoming the new setting of bail-out negotiations with the EU after the banking crisis in Cyprus.

March 28, 2013

Austria: Budget Deficit in 2012 Lower Than Expected

The country has reached a significantly lower deficit than the government had expected. According to Statistik Austria, the deficit was at 2.5 % of GDP in 2011, equaling € 7.7bn.

March 28, 2013

Hungary: Tax Overhaul Finalized

Minister for National Economy: taxation system completed - time for fine-tuning.

March 27, 2013

Slovakia: No Improvement in Economic Situation For 2013

Analysts forecast the GDP growth to be less than one percent.

March 26, 2013

Croatia: Sluggish Economic Recovery

The improvement in the financing conditions in international financial markets in the second half of 2012 mitigated the risks to Croatias financial stability to an extent.

March 25, 2013

"Croatia Will Not Benefit From Joining The EU"

Croatia will join the European Union as the 28th member state in a few months. Economists criticize the country for not carrying out enough reforms and only focusing on tourism.

March 22, 2013