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Poland: Opposition Calls for Parliamentary Inquiry
PiS chief opposition calls for parliamentary inquiry into public finances.
July 24, 2013
Poland: Dispute Between NBP and Finance Ministry
Finance Minister Jacek Rostowski and Governor of Polish National Bank Marek Belka are blaming each other for the poor performance of Poland´s economy.
July 23, 2013
Hypo Group: Current Capital Injection Not Enough
Klaus Liebscher, head of the supervisory board of the nationalized Austrian problem bank, thinks that the Ministry of Finance will have to inject further money.
July 23, 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
Russia: Inflation on the Rise
In the first six months of 2013, the inflation rate came at 3.5%. Compared to the reference period of 2012, the inflation rate was up by 0.4 percentage points.
July 23, 2013
Poland to Enter the Eurozone in the Medium Term
The biggest new EU member country will become a member of the Eurozone, political observers say unanimously. The only question is when.
July 23, 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
CESEE Countries Show More Fiscal Discipline
Euro area government debt up to 92.2% of GDP. EU27 debt up to 85.9%. The debt increase in Hungary, Poland, Bulgaria, Romania and the Baltic countries was very decent or even negative.
July 22, 2013
Poland Tries to Manage Fiscal Balancing Act
On the one hand, Poland´s government wants to keep an eye on the Maastricht Criteria. On the other hand, the economic growth would shrink even more without a fiscal stimulus.
July 18, 2013
IMF to Leave Hungary
Hungary´s National Bank MNB has called the IMF to close its representative office. Hungary wants to repay the loan facility provided by the IMF soon.
July 16, 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
Fekter: Eurozone More Stable Than A Year Ago
Austrian Finance Minister Maria Fekter has described the condition of the Eurozone as “better” than compared to a year ago.
July 9, 2013
CEE Slowly Escapes Economic Crisis
Slovenia, Croatia and the Czech Republic have slipped into recession. Experts are particularly worried about the newest EU member.
July 4, 2013
Moody’s: Turmoils In Bulgaria Will Not Affect Fiscal Stability
According to rating agency Moody's, the ongoing political turmoil in Bulgaria is not expected to negatively affect the country's fiscal stability.
July 4, 2013
Austrian Coalition to Take Stock of Legislative Period
In a joint interview with several leading Austrian newspapers, Austrian Chancellor Werner Faymann and Deputy Chancellor and Foreign Minister Michael Spindelegger take stock of the legislative period so far.
June 28, 2013
Latvia Joining The Eurozone As 18th Member
Today the heads of states and governments of the European Union gave their blessing to Latvia’s entry to the Eurozone in 2014.
June 28, 2013
Austrian Public Debt to Rise Further
Quarterly government debt first quarter 2013: € 231.6bn or 74.2 % of GDP.
June 28, 2013
Slovenia’s Economic Outlook to Deteriorate Further
The Institute for Macroeconomic Analysis and Development expects GDP in Slovenia to shrink more than projected earlier.
June 21, 2013
Green Light for Latvia’s Euro Accession
The Eurogroup gave green light for the admission of Lativa to the common European currency.
June 21, 2013
Austria: „Death Blow for Economy“
The Austrian Economic Association (Wirtschaftsbund) announced that the realization of all demands in the Austrian Trade Unions’ (ÖGB) leading proposal would come at € 21.9bn. The Austrian economy would be burdened with € 14bn.
June 17, 2013
Fekter: „Bad Bank for Hypo Not The Most Creative Solution“
The Austrian Greens affirm their demand for the establishing of a bad bank for the ailing Hypo Group and a respective bill.
June 12, 2013
Zagreb: In-depth Analysis of SEE Infrastructure Development Plans
Many countries of Southeast Europe are outlining ambitious infrastructure development plans within transport, social, energy and environmental projects.
June 1, 2013
Hungary: New Interest Rate Cuts Ahead
Since the beginning of March, Hungary´s National Bank MNB has a new governor. The government wants MNB to lower the base rate further.
March 16, 2013
VBAG is Forced to Continue Radical Downsizing Measures
The partly nationalized and financially stricken Austrian banking group has to implement a painful restructuring concept. At the moment, VBAG sells its properties.
March 15, 2013
Turkey: Economic Imbalances Become More Visible
Unlike the Eurozone, Turkey´s economy still shows substantial growth rates. However, Turkey suffers from a number of structural weaknesses.
March 13, 2013
Lithuania: Cashing in Eurobonds to Decrease Public Debt
The finance ministry of Lithuania declared to having redeemed the second large Eurobond issue today and reduced its public debt by € 1 bn.
March 7, 2013
Czech Republic Eases Austerity Policy
In order to boost economic growth, the Czech government tends to refrain from the strict austerity course.
March 5, 2013
Latvia: Letter Requesting the Convergence Report is Signed
The Baltic country wants to become a member of the Eurozone by 2014.
March 5, 2013
Belka and Rostowski “Time to Move Up a Gear”
Governor of NBP (National Bank of Poland) Marek Belka and Poland´s Minister of Finance Jacek Rostowski want to accelerate Poland´s approach to the Eurozone.
March 4, 2013
Austria: Government Adheres to Zero Deficit in 2016
Although the economic development is behind the expectations, the government wants to achieve a budget surplus in 2017.
March 2, 2013
Romania As Risk Factor for Austria´s Public Finance
The partly nationalized Austrian banking group VBAG faces difficulties in Romania. The Austrian Ministry of Finance tries to prevent further capital injections into VBAG.
March 2, 2013
Bulgaria: Economy to Stabilize
Despite the enormous political instability, Bulgaria is expected to record positive growth rates this year.
February 28, 2013
Slovenia: Jansa Remains Prime Minister
Today, Slovenia´s Parliament will elect a new official head of government. However, Jansa will continue the government business.
February 27, 2013
Poland: Rostowki’s Fight for the Euro
Even though Poland’s rating outlook has been revised from “A-“ to “A” by Fitch it still has to face political reforms in order to improve its economic competitiveness.
February 24, 2013
Hungary: Government Demonstrates Optimism
Peter Szijjarto, spokesman of Prime Minister Viktor Orban´s party Fidesz, believes that Hungary´s economy will perform well this year.
February 23, 2013
Romania Tapped Again External Markets
In February, Romania borrowed USD 1.5bn in a 10-year Eurobond. Demand for debt papers was strong, Raiffeisen Research says.
February 22, 2013
Ukraine: Deal With IMF to be Cut in Summer
The visit of IMF mission to Kyiv did not bring the immediate results. Raiffeisen Research expects the negotiations to be rather prolonged.
February 20, 2013
S&P Warns Austria of Election Gifts
This year, Austria will hold federal elections. According to S&P, expensive election gifts may reduce the credit rating outlook.
February 19, 2013
Hungary: Hope for Soon Economic Recovery Vanishes
In the last quarter of 2012, Hungary´s GDP was down by 2.7% compared to the reference period of 2011.
February 19, 2013
Poland: Rostowski Calls for Structural Reforms
Minister of Finance Jacek Rostowski wants his country to join the Eurozone. However, Poland has to implement fiscal reforms, he claims.
February 18, 2013
Euro Adoption: Latvian People Not Convinced at All
Latvia´s government is proud of its austerity course of the last years. According to Prime Minister Valdis Dombrovskis, the country is ready for the euro.
February 16, 2013
Public Debt: Austria´s Government Too Optimistic
The austerity targets of the Austrian government are not realistic. Above all, the official public debt level will increase significantly next year.
February 15, 2013
S&P Downgrades Slovenia
Today, the U.S. rating agency has lowered the credit rating of the financially stricken country. Further downgrades are not unlikely.
February 13, 2013
Satisfying Fiscal Situation in Bulgaria
The 2012 budget deficit stands much lower than planned: 0.5% of GDP. Public debt falls after Eurobond repayment in January 2013, Raiffeisen Research analyzes.
February 11, 2013
Size of Austrian Bank Aid: € 20bn
Since 2008, the Austrian state has injected more than € 8bn into domestic banks. Guarantees total € 12bn.
February 5, 2013
„Hungary Needs Sustainable Reforms“
The IMF underline that the country must restore the confidence of international investors. At the moment, Hungary´s government is not forced to continue the talks with IMF.
February 5, 2013
Bulgaria: Public Debt to Decrease in 2013
According to the Bulgarian government, public debt will be reduced by BGN 600m in 2013. The public finance law has been adopted at the second reading.
February 2, 2013
Bulgaria: Deficit Lower than Planned.
The budget balance under the Consolidated Fiscal Programme (CFP) for 2012 is negative, amounting to BGN 350.2 million, or 0.45% of the planned GDP.
February 2, 2013
Romania: „Ongoing fiscal consolidation in 2012“
According to Raiffeisen Research, Romania´s public finance begins to improve. However, the budget execution still shows some weaknesses.
February 1, 2013
Slovakia: Government Warns of Economic Slowdown
This year, Slovakia´s government expects lower growth rates than in 2012. Besides that, the austerity pressure is growing.
February 1, 2013
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