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Public Debt

WIFO: Austrian Economy to Grow Slowly

In the next years, Austria´s economy will recover gradually, the Austrian Institute of Economic Research says.

January 25, 2013

Slovakia: Public Debt Quota Exceeds 50% of GDP

For the first time since 2000, Slovakia´s public debt level exceeds the 50% threshold.

January 24, 2013

Fitch: Austria´s Public Debt to Double

Due to the demographic trends, Austria faces a pension shock, Fitch says.

January 23, 2013

Czech Republic: Both Presidential Candidates Want to Join Eurozone

Unlike the outgoing President of the Czech Republic Vaclav Klaus, Milos Zeman and Karel Schwarzenberg are in favor of the euro.

January 19, 2013

IMF to Visit Serbia Again

The International Monetary Fund underlines that Serrbia must reduce its public debt. At the same time, the government must stimulate economic growth, IMF says.

January 18, 2013

Croatia: One Step Closer to the EU

According to their own statements, the Croatian government has fulfilled eight out of ten tasks, which must be finalized until July 2013. However, Croatia´s economic problems are far from being solved.

January 15, 2013

New Elections in Slovenia?

The government crisis in Slovenia sharpens. Economists warn of a leftist coalition.

January 15, 2013

Romania: Ponta Promises Return to Growth

Prime Minister Victor Ponta underlines the necessity of austerity measures. This year, Romania´s public debt level will increase further, though.

January 12, 2013

Austria: Public Debt Has Reached New High

At the end of 2012, Austria´s financial debt has totaled € 189.5bn. Against 2011, this is an increase of € 6.5bn.

January 12, 2013

Only Small Budget Deficit in Bulgaria

The cumulative balance remained at -0.1% of GDP. Bulgaria only records a minor deficit of BGN 31m, Raiffeisen Research reports.

January 12, 2013

Serbia: External Debt Growing Due to Euro Revaluation

Up by € 746.4m or 3.1% from end-June 2012, external debt of the Republic of Serbia totalled € 24.8bn at end-September 2012.

January 11, 2013

Moody´s: Slovak Austerity Plans Not Realistic

According to the U.S. rating agency, the deficit reduction plan may be too ambitious.

January 10, 2013

Serbia: Public External Debt Shrinks

In total, public debt grew by 1% in the third quarter of 2012. The debt-to-GDP ratio falls slightly.

January 10, 2013

First Signs of Economic Recovery

Liquidity is driving the markets, global monetary policy remains heavily expansive. Muted growth outlook for CEE.

January 10, 2013

Serbian Government Emphasizes Need of Austerity

The government in Belgrade has prepared a fiscal consolidation program. In the next years, the public debt quota is expected to decrease slightly.

January 10, 2013

Serbia to Sign Loan Agreement with Russia

Tomorrow, Serbia´s Minister of Finance Mladjan Dinkic will visit Moscow.

January 10, 2013

2013: Where Will Growth Come From?

Where Will Growth in the Euro Zone and the US Come From? GDP growth in Austria is expected to reach 0.9% this year, Erste Group says.

January 9, 2013

Croatia Faces Stagnation

Last year, Croatia´s economy shrank substantially. In 2013, the country will recover, economists say.

January 5, 2013

Slovakia: Gasparovic Demonstrates Optimism

On the occasion of his traditional New Year´s speech, Slovakia´s President Ivan Gasparovic underlines that the country is able to manage the crisis.

January 3, 2013

Poland: Public Debt Level Shrinks Slightly

At the end of 2012, the public debt level came at 53% of GDP. One year before, the quota stood at 53.5%.

January 3, 2013

Hungary: Public Deficit Declines

The deficit of the general government sector fell by 3.1 percentage points in the 3rd quarter of 2012.

January 3, 2013

Bulgaria: Budget Deficit Lower than Planned

Bulgaria´s budget deficit is expected to reach about 1.0% of GDP.

December 30, 2012

Equity Market: Erste Group Cautiously Optimistic

Earnings are expected to grow again, but vulnerabilities remain. The global debt crisis remains unsolved, Erste Group says.

December 29, 2012

Nowotny Puts Pressure on Austrian Government

Ewald Nowotny, governor of Austrian National Bank (OeNB) wants the Austrian government to continue the austerity course.

December 28, 2012

Austria´s Public Debt Level Continues to Increase

The quarterly government debt quota in the third quarter of 2012 has reached 73.7% of GDP. In total, the debt volume reaches € 227bn.

December 28, 2012

Czech Republic Does Not Fulfill Maastricht Criteria

At the moment, joining the eurozone is no issue for the Czech Republic. The stability criteria are still not fulfilled anyway.

December 28, 2012

Bulgaria: Moderate Increase in External Debt

The gross external debt1 amounted to € 36,668.7m (92.8% of GDP2) at end-October 2012 increasing by EUR 823.2m (2.3%) from end-2011 (EUR 35,845.5m, 93.1% of GDP).

December 27, 2012

WIFO: „Shut Down Hypo Group“

The Austrian Institute of Economic Research (WIFO) recommends closing the nationalized banking group. The number of banks is expected to shrink radically.

December 27, 2012

Hungarian Government „Do Not Need Help from IMF“

Hungary´s Minister of Economics György Matolcsy argues that his country has never needed a loan from the IMF.

December 22, 2012

IHS: Austria Has Bottomed Out

Austria faces a trend reversal, the Austrian Institute of Advanced Studies (IHS) says. The real debt level in Austria totals 200%, Keuschnigg says.

December 21, 2012

Slovakia: Budget Deficit Comes at 4.6%

This year, the Slovak budget deficit is expected to be significantly beyond the Maastricht criteria.

December 20, 2012

Ukraine: Fiscal Policy Faces Unsolved Problems

The budget draft for 2013 provides no room for the fiscal consolidation, which looks incompatible with the IMF requirements.

December 19, 2012

“CEE Strong Than Western Eurozone”

Erste Group publishes its Outlook Stock Markets and Vienna Stock Exchange 2013. The Sovereign debt remains the biggest problem, Erste Group says.

December 19, 2012

Slovenia: Citizens Protest Against Austerity Cuts

The austerity policy of the centre-right government faces fierce resistance by the trade union and citizen´s movements.

December 18, 2012

Public Debt Committee Warns Austrian Government

2013 will be dangerous for Austria´s austerity course, the economist Bernhard Felderer says.

December 18, 2012

S&P Downgrades Croatia

Croatia´s Minister of Finance Slavko Linic does not exclude that Croatia needs support from the IMF next year.

December 17, 2012

Bulgaria: Budget Deficit Ahead

The January-October budget balance moves to negative territory (-0.1% of GDP), Raiffeisen Research says.

December 17, 2012

Kazakhstan: „Among the Top 30 in 2050“

Kazakh President Nursultan Nazarbayev predicts an economic boom in the next decades.

December 15, 2012

Austrian Municipalities: Real Deficit Ahead

Until 2016, Austrian municipalities expect that the financial resources for investments and debt reduction will decrease.

December 14, 2012

“Risks to Financial Stability Remain High”

The European sovereign debt crisis continues to impact international financial markets. Despite the stabilizing effect of monetary and financial policy measures the risks to financial stability remain at a high level, OeNB says.

December 14, 2012

Austrian Banking Package: Losses total € 1.9bn

According to Austria´s Financial State Secretary Andreas Schieder, preliminary losses of the banking package come at € 1.9bn. Further losses are expected.

December 13, 2012

Hungary Resolves 2013 Budget

Today, Hungary´s Parliament approved the budget for 2013, which contains a number of tax increases. According to critics, the budget will not hold.

December 12, 2012

WIFO: South Europe Needs Change in Strategy

The Austrian Institute of Economic Research (WIFO) underlines that the austerity policy in South European countries did not help at all.

December 12, 2012

„Eurobonds Are No Solution“

Latvia´s Prime Minister Valdis Dombrovskis argues that euro-bonds may be implemented at the end of the convergence process.

December 11, 2012

Ukraine Faces Recession

For the first time since 2009, Ukraine recorded a negative growth rate last quarter. Weak exports and a shrinking industrial sector are the most pressing issues.

December 8, 2012

Serbia Receives $ 800m Loan

The World Bank grants Serbia a loan of $ 800m. The loan covers Serbia´s budget deficit and enable the government to put more effort into infrastructure investments.

December 8, 2012

Croatia Considers Leasing Out Highways

In order to reduce the budget deficit, Croatia plans to privatize its highway network.

December 8, 2012

Slovenia Sharpens Austerity Measures

The Slovenian Parliament resolved the budgets for 2013 and 2014. The country tries to fulfill the Maastricht criteria.

December 8, 2012

Fiscal Policy: OECD Warns Slovakia

OECD´s Secretary General Angel Gurria calls Slovakia to improve its fiscal efficiency. The tax collection must be professionalized, he says.

December 8, 2012

Austria Faces Recession

Austria´s National Bank OeNB has revised the growth forecasts one more time. Next year, Austria´s economy will only grow by 0.5%.

December 7, 2012
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