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Labor Market

Poland: Fastest Growing Economy in EU

According to the EU Commission, Poland will see the fastest growth in 2014 among the largest former communist countries of the European Union.

February 26, 2014

Austria: Wifo Projects Gloomy Economic Outlook

A restrained economic growth, high unemployment rate and measures for the consolidation of the state budget are the factors which affect the economic development on a medium-term.

February 21, 2014

EU Commission to Examine Slovenian Bank Restructuring Plan

Slovenia has sent the restructuring plan for its third largest bank, Abanka Vipa, to the EU Commission.

February 20, 2014

Czech Republic: New Government Passed Vote of Confidence

The new Czech government under Prime Minister Bohuslav Sobotka has passed the vote of confidence in parliament yesterday.

February 19, 2014

Czech Republic: Government Asks for Vote of Confidence

The new Czech government was appointed at the End of January. On Tuesday Prime Minister Bohuslav Sobotka and his cabinet will ask for a vote of confidence in parliament.

February 18, 2014

Romania: Fit for Eurozone?

According to estimates by the Romanian government, the country is fit for joining the single currency union.

February 17, 2014

Serbia: FDI of Great Importance for Economy

According to Deputy Prime Minister Vucic, the country’s biggest problem was the rate debt rate and fiscal deficit.

February 14, 2014

Improving Situation in Slovenia

Banka Slovenije points out that the finance industry was negatively affected by provisions and write-offs. However, the situation seems to be improving.

February 13, 2014

Challenging Business Environment for Croatian Banks

Last year profits of Croatian banks declined more than 73 percent.

February 12, 2014

Wifo: Recovery Continues

Early indicators by the Austrian Institute of Economic Research (Wifo) point to a gradual recovery of the economy both in the European Union and in Austria.

February 11, 2014

Poland: Economic Growth to Speed Up

According to the Economy Ministry’s forecast, economic growth is supposed to come at 3 percent of GDP year-on-year this year. Inflation, on the other, is expected to come at 2 percent.

February 10, 2014

Bosnia: Protests Go On

After a number of political step-downs, the protests in Bosnia do not come to an end. The protest movements wants to take back controversial privatizations and the state presidium to step down.

February 9, 2014

Austria: Massive Increase in Unemployment

At the beginning of February, 450,000 Austrians were jobless. In absolute terms, is a new record high.

February 3, 2014

Poland: Economic Growth in 2013 above Expectations

GDP growth in Poland came at 1.6 percent year-on-year in 2013 which is 0.1 percent above expectations.

January 31, 2014

OECD Shows Great Concern over Hungarian Economy

According to the OECD, the country’s recovery from recession will be weak in 2014 and 2015

January 27, 2014

NLB Closing Moscow Office

The step is part of the restructuring and downsizing procedure.

January 27, 2014

“Croatia Going through Very Difficult Period“

The World Bank calls for structural reforms in the Western Balkan state.

January 27, 2014

Croatia: S&P Downgrades Rating

Standard&Poors; has downgraded Croatia’s rating to “BB”. The outloock on the long-term rating for the country is at least “stable”.

January 24, 2014

Austria: OeNB Forecasts Modest Economic Growth

According to the Austrian National Bank (OeNB) economic growth in Austria only came at 0.3 percent last year.

January 24, 2014

Slovenia: NLB Facing Downsizing Measures

Slovenian NLB is facing severe downsizing measures. As part of the restructuring process, the country’s biggest bank has to lay off personnel.

January 24, 2014

CESEE: Recovery Remains Modest

The European Bank for Reconstruction and Development (EBRD) has published a report on the regional economic prospects. The economic recovery in CESEE remains fragile.

January 23, 2014

“No Real Wage Loss This Year“

In terms of real wages, Austria may face a trend reversal this year. In Southeastern Europe, by contrast, poverty is growing considerably.

January 21, 2014

Czech Economy to Grow Not Sooner than 2016

The Czech economy will struggle to show economic growth both this and next year, according to the Czech Federation of Trade Unions CMKOS.

January 21, 2014

Czech Republic: New Government Facing Bumpy Road

The first obstacles for forming a new government seem to have been surmounted – for the time being.

January 21, 2014

Erste Group: Moderate Economic Recovery in Eurozone

Euro area sentiment indicators point to a continuation of the moderate recovery, according to Erste Bank.

January 20, 2014

Audit Court Criticizes Austrian Government Sharply

Josef Moser, president of the Austrian Audit Court, has sharply criticized the government’s resolution.

January 17, 2014

Citizens from CEE Major Benefit for EU

A current paper published by the OECD shows that the European Union benefits from migration of Eastern European citizens as they compensate imbalances in the labor markets.

January 15, 2014

CESEE: Lack in FDI Causes Modest Economic Growth

The International Monetary Fund (IMF) is cautiously optimistic about economic growth in CESEE.

January 14, 2014

Polish Government to Focus on Social Security

According to Poland´s Prime Minister Donald Tusk, the reduction of unemployment and the improvement of social security will be priority issues in 2014.

January 13, 2014

Czech Economy: Good Prospects for Sustainable Recovery

The Czech economy is expected to return to growth already in the first half of 2014. Growth will not be only based on exports.

January 10, 2014

Serbia: One of Fastest Growing Economies

Last year Serbia was among the ten fastest growing economies in Europe, as pointed out by Deputy Prime Minister Aleksandar Vucic.

January 8, 2014

Hungary Amending Figures of Budget Deficit

Hungarian Finance and Economy Minister Mihaly Varga announced that the budget deficit of 2013 will be below the target after it was lowered dramatically.

January 8, 2014

Austria: Unemployment Rate at Record High

Last year the unemployment rate in Austria recorded its highest level in 60 years.

January 2, 2014

Serbia: Moderate Economic Growth in 2013

According to the release of the Serbian Statistical Office, GDP is estimated to have grown 2.4% in 2013.

January 2, 2014

„Such Growth Rates Will not Return“

In an interview with the Austrian daily “Presse”, economist Karl Aiginger explains that the worst should be over. The reform pressure on the Austrian government is enormous.

December 30, 2013

Austria: Kapsch Delivers Warning to Policy-Makers

Georg Kapsch, President of the Federation of Austrian Industries (IV), is very cautious about economic growth in Austria and warns the policy-makers of a budget consolidation on the basis of expectations of growth.

December 27, 2013

Austria: Industrial Output Shrinks

In October the industrial production in Austria declined.

December 23, 2013

Austria: Options of Bad Bank for Hypo under Examination

Finance Minister Spindelegger intends to meet with experts to discuss options of a bad bank for Hypo Group Alpe Adria.

December 20, 2013

Wifo: Sluggish Growth Because of Weak Consumption

According to Wifo’s (Austrian Institute of Economic Research) prognosis for the coming years, economic upturn in Austria will remain flat because of weak consumption.

December 19, 2013

Labor Costs: No Clear Trend in CESEE

In the Baltic countries and in Romania, unit labor costs rose most. In Slovenia and in the Czech Republic, by contrast, unit labor costs were down.

December 18, 2013

Bulgaria: S&P Downgrade Criticized Sharply

Bulgarian Minister of Economy Dragomir Stynev does not agree with S&P´s view on Bulgaria´s creditworthiness.

December 16, 2013

Leitl: No Alternative to Budget Consolidation

Christoph Leitl, President of the Austrian Chamber of Commerce (WKO), regards the coalition agreement between the Social Democrats (SPÖ) and the People’s Party (ÖVP) acceptable.

December 13, 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: Unemployment Grows Further

In November, the unemployment rate came at 13.2%. The labor market has the worst behind, the government says.

December 11, 2013

Leitl: Government Plans “Complete Nonsense“

According to Christoph Leitl, President of the Austrian Chamber of Commerce, the “great” suggestions planned by his working group are not realized by the government.

December 10, 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

Austria: Slight Increase in Exports

In spite of a continuing difficult international environment domestic exports increased by 0.7 percent. According to Economy Minister Mitterlehner the Austrian exports are on a record high.

December 6, 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

RZB Faces Severe Restructuring Measures

The Raiffeisen Zentralbank (RZB) is facing severe restructuring and downsizing measures as it has to cut the number of employees.

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