Poland
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
Romania: Lowest Importance of Service Sector in EU
Almost 70% of employed persons in the EU27 worked in the service sector in 2011. The scope ranges from 43% in Romania to 85% in Luxembourg.
October 5, 2012
Poland´s National Bank Holds Interest Rate
After analysts expected that the Polish NBP cut the interest rate, the decision to hold the rate at 4.75% came as a surprise.
October 4, 2012
Nine Prime Minister Discuss EU Budget in Bratislava
The Prime Ministers of nine countries of Central and Eastern Europe will meet in the Slovak capital on October 5.
October 3, 2012
Poland to Increase Flexibility of Labor Market
The Polish Ministry of Social Affairs prepares an “anti-crisis-package”.
October 3, 2012
Poland: Interest Cut Expected
The Polish National Bank NBP is anticipated to announce a cut in the base rate. At the moment, the base rate stands at 4.75%.
October 2, 2012
Immofinanz Builds Next Shopping Center in Poland
The Austrain real estate group starts retail development project in Poland. Investments total € 115m.
October 2, 2012
RBI: Poland Shows Stability
In Poland, Raiffeisen Bank International´s NPL ratio comes at 8%. By contrast, Ukraine and Poland are much more problematic.
October 1, 2012
M&A´s: Poland Ranks First Among CEE Countries
According to a study by Ernst & Young Poland ranks 30 among 148 countries.
October 1, 2012
Raiffeisen: CEE Network to be Closed
Austrian RBI (Raiffeisen Bank International) announces that the expansion in Central and Eastern Europe will be concluded soon.
October 1, 2012
Immofinanz Group: Silesia City Center Ranks among the top Shopping Centers in Poland
On 19 September 2012 the Polish Association of Retail Tenants and GfK Polonia Institut published a new ranking of Polish shopping centers. The Silesia City Center was rated first.
September 28, 2012
CEE Equity: RBI Cautiously Optimistic
RBI forecasts a slight increase in yields for Poland, Hungary, Russia and the Czech Republic. Austrian ATX should grow moderately in the next 12 months.
September 28, 2012
CEE Remains Europe’s Growth engine Despite Slow-Down
CEE with 2012 GDP growth of 2.4 per cent – GDP in Eurozone to shrink to minus 0.5 per cent in 2012 . In terms of reforms, CEE tops Eurozone peripherals
September 28, 2012
“No Recession in Poland”
The Polish economist Jan Krzysztof Bielecki is optimistic regarding the development of Poland´s economy.
September 27, 2012
Czech National Bank Expects More Interest Rate Cuts
The governor of the Czech National Bank Miroslav Singer explained that the monetary easing program will continue.
September 27, 2012
Poland Continues Austerity Program
Today, the Polish Ministry of Finance has issued the government´s final budget bill for next year. The budget deficit is estimated to shrink slightly. Poland´s GDP Expected to Grow by 2.2% in 2013.
September 27, 2012
Poland: Joining Eurozone After Crisis
For the governor of the National Bank of Poland Marek Belka, entering the Eurozone is conceivable as soon as the Eurozone has recovered.
September 25, 2012
Public Debt: New EU Members Are More Flexible
Compared to old EU member states, the new member states have more fiscal leeway to overcome the crisis.
September 24, 2012
Poland´s Central Bank Retains Interest Rate
The Polish Monetary Policy Council held the base rate flat. Before, an interest rate cut of 50 bps or 25 bps were discussed.
September 22, 2012
EU: Germany Biggest Net Payer, Poland Biggest Net Recipient
In 2011, Poland received EU-aids of € 11bn. Among the new EU members, Hungary ranks second. In terms of GDP, Hungary is the biggest beneficiary.
September 21, 2012
Polish Real Income Declining
As the inflation rate is still higher than wage increase, Polish households face a shrinking income.
September 20, 2012
Poland: Standard & Poor´s Upgrades Banking Industry
The U.S. rating agency upgrades the banking sector´s risk score.
September 20, 2012
Banking Supervision: Nowotny Warns of Over-Ambition
According to the governor of OeNB (Austrian Central Bank), it would be dangerous to establish new institutions without a democratic legitimization.
September 18, 2012
Polands FDI Level Stagnates
Compared to 2011, the size of foreign directed investments in Poland stays almost unchanged.
September 18, 2012
Implementation of Banking Union to be Postponed
Initially, the Commission of the EU intended to introduce the banking union in 2013. After the fierce resistance of some member states, the Commission gives up its plans for the time being.
September 17, 2012
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