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Poland
Polish National Bank Criticized
Poland´s Minister of Finance Jacek Rostowski thinks that NBP (National Bank of Poland) does not cut interest rates quickly enough.
December 11, 2012
Polish Government Retains Budget Assumptions for 2013
Poland´s Prime Minister Donald Tusk said that there is no need to change the economic assumptions at the moment.
December 5, 2012
Legal Merger of Raiffeisen Bank Polska and Polbank EFG Approved
Approval is starting point for unification of market approach and operational merger process. Cost synergies to be achieved by optimization of the branch network and the staff number, among other measures.
December 5, 2012
Poland: Another Rate Cut Expected
The Polish National Bank (NBP) will lower the interest rate one more time this year, analysts say.
December 4, 2012
Poland: Economic Growth Flattens Further
The crisis in the Eurozone also hits Poland. In the third quarter, the economic growth rate only came at 1.4%.
December 3, 2012
Poland: Piechocinski to Become New Deputy Prime Minister
After the resignation of Waldemar Pawlak, the Polish government will not collapse, observers say. PSL´s new party leader Janusz Piechocinski is expected to succeed Pawlak.
December 3, 2012
Polish Economy Slows Down
In the third quarter, annual GDP growth was below 2%, the Polish Ministry of Finance said today.
November 30, 2012
Poland: Measures Against Shrinking Population
Poland´s Prime Minister Tusk announced that the government will improve its social policy. In the next 40 years, the Polish population might decrease by 6 million.
November 29, 2012
Strabag: Losses Ahead
Next Friday, the Austrian construction group presents its results for the first nine months of 2012.
November 28, 2012
Poland: Unemployment Remains on High Level
The Polish government expects the unemployment quota to grow slightly.
November 27, 2012
Poland: Foreign Direct Investments Grow Massively
Last year, the U.S. was the biggest investor in Poland. Regarding the EU budget, Prime Minister Tusk emphasizes that cohesion funds must not be cut.
November 26, 2012
CESEE: Eurozone crisis and Austerity Push Half of the Region into Recession
Export weakness and suppressed domestic demand will push nearly half of the CESEE region into recession this year, including the Czech Republic, Hungary, Slovenia, and nearly all Western Balkan countries.
November 26, 2012
More Hungarians Leave their Country
Especially high-skilled Hungarians tend to emigrate. The labor market conditions in Hungary are often precarious.
November 24, 2012
Poland´s Population Expected to Shrink
In the next 40 years, the Polish population might decrease by 6 million.
November 24, 2012
VIG: Satisfying Results Ahead
Next Tuesday, Vienna Insurance Group will publish its results for the first nine months of 2012.
November 23, 2012
Poland: Economy Expected to Recover in 2013
Poland´s Minister of Finance Jacek Rostowski is optimistic that economic growth will accelerate next year.
November 21, 2012
Real Estate Market: Austria Is Underdeveloped
Regarding the rate of owner-occupied flats, Austria is below the EU average. Poland ranks first.
November 21, 2012
Poland: Pawlak Steps Down
The Polish Minister of Economics Waldemar Pawlak resigns. His re-election as leader of the Agrarian Party has failed.
November 19, 2012
EU Budget: Losses for Poland Will Keep Within Limits
Poland will still be the biggest net contributor. According to Poland´s Prime Minister Donald Tusk, the negotiations prove highly difficult.
November 17, 2012
Belka: Polish Economy Will Recover In 2013
The governor of the Polish National Bank (NBP) Marek Belka demonstrates optimism.
November 17, 2012
NBP: Further Interest Cuts Likely
The Polish National Bank may reduce the base rate further. Poland´s economy is expected to slow down next year.
November 15, 2012
CESEE: Massive Capital Outflow
In the second half of 2011 and in the first half of 2012, foreign banks withdrew about € 55bn from the region.
November 14, 2012
CA Immo Expands in Warsaw
“Continuing success for largest Polish property development.” The Austrian property company will complete project before the end of the year.
November 14, 2012
New Record for Bilateral Trade Between Poland and Austria
Christoph Leitl, President of the Austrian Chamber of Commerce underlines the close and friendly relationships between Poland and Austria.
November 8, 2012
Polish National Bank Cuts Interest Rate
In order to support economic growth, NBP decided to ease its monetary policy.
November 8, 2012
CEE Deleveraging Remains Moderate
Austrian, German and Italian banks kept lending to CEE6 (except Hungary) relatively stable. Shifts in foreign capital structure and allocation from private to public sector might pose risks to future growth.
November 8, 2012
Latvia Has Best Growth Prospects
Today, the EU Commission has announced its economic forecast for 2012. Austria is among the economically stable countries.
November 8, 2012
CESEE: Business Climate Deteriorates
According to OeKB (Austrian Clearing Bank), the economic sentiment in Southeastern Europe is declining. Poland remains the growth engine.
November 7, 2012
Poland: Lending Criteria to Tighten
According to the Polish National Bank (NBP), banks will tighten lending conditions further. NBP wants to support economic growth, but has to prevent a credit bubble.
November 6, 2012
Rostowski: Poland´s Economic Slowdown “Only Temporary”
Regarding the medium-term economic development, the Polish Finance Minister Jacek Rostowski proves confidence.
November 2, 2012
EU Budget Cuts would Affect Poland
In the last six years, Poland benefitted substantially from EU funds. A cut of € 23bn is being discussed.
October 30, 2012
Poland: Real Wages are Falling
Due to the persistently high inflation rate, real wages have fallen for the first time in 20 years.
October 29, 2012
Saving in CEE Becomes More Important
Poles and Slovaks are CEE's savings champions, putting aside 15% resp. 12% of their monthly income. Austrians, Germans and Czechs follow suit with 9%.
October 29, 2012
Poland: Calls for Interest Cut Become Louder
The Polish economic growth flattens. NBP´s council member Andrzej Rzonca wants the interest rate to be cut.
October 25, 2012
“Poland is Safe”
Despite the economic slowdown, the Polish Minister of Finance Jacek Rostowksi says that the country is safe from the economic crisis.
October 24, 2012
VIG Considers Expanding Further
Vienna Insurance Group has cash reserves of € 1.5bn. Now, the insurance group wants to take over some small or medium-sized companies.
October 24, 2012
World Bank: „Poland is a Growth Engine for Eastern Europe“
According to the “Doing Business Report 2013”, Poland´s competitive position has improved remarkably. Austria was up by two ranks.
October 23, 2012
Tusk: Joining Banking Union Only if it Does not Weaken Poland
The Polish Prime Minister does not exclude to enter the banking union. However, this measure must not weaken Poland´s position.
October 22, 2012
Poland Favors Banking Union, Czech Republic is Skeptical
The governor of the Polish National Bank Marek Belka calls for joining the banking union. The Czech Republic may use the right to give a veto.
October 20, 2012
Polish Government: Austerity in Order to Enter Eurozone
The Polish Minister of Foreign Affairs Radoslaw Sikorski says that Poland will fulfill the Maastricht Criteria in 2015.
October 19, 2012
Poland Starts Privatization Program
The Polish government wants to sell state-owned assets worth € 5bn.
October 18, 2012
Porr´s Construction Output Shrinks
The third-largest Austrian construction group records an increase in orders. Porr´s CEO Karl-Heinz Strauss is satisfied.
October 18, 2012
Stepic: “Must Reduce Lending in CESEE”
The CEO of Austrian RBI (Raiffeisen Bank International) Herbert Stepic explains that new lending in Eastern Europe must be reduced substantially.
October 11, 2012
S&P: Eastern Subsidiaries of Austrian Banks Most Become More Independent
The U.S. rating agency criticizes that Austrian banks are still weakly capitalized. The economic crisis caused a massive withdrawal of funds in Eastern Europe, S&P says.
October 11, 2012
Poland´s Budget Deficit “Will Not Be Bigger than Planned”
The Polish Minister of finance Jacek Rostowski stresses that the planned budget deficit will not be higher than PLN 35.6bn.
October 11, 2012
Poland: Almost 2.0 Million Unemployed
In August, the unemployment quota grew to 12.5% from 12.4%.
October 8, 2012
Poland: Long-Term Unemployment Becomes Problematic for State Budget
According to the consulter Deloitte, Poland is losing billions because of the long-term unemployment.
October 6, 2012
Poland´s Komorowski: “Strong Swiss Franc Causes Problems”
On the occasion of a visit in Switzerland, the Polish President Bronislav Komorowski explained that the strong Swiss franc is a problem for both countries.
October 5, 2012
Working Time: Brits and Austrians Work Most
Regarding the weekly working time, Austria ranks second. The share of employees working in the service industry is slightly below the EU average.
October 5, 2012
CEE Countries Must Work Upon Economic Convergence
CEE countries are struggling with weaker external demand and uncertain consumers, whereas in most cases fiscal policy is under control. Labour productivity, costs and competitiveness of CEE region give reason for optimism.
October 5, 2012
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