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Public Debt

Belka: “Poland Is Free of Economic Imbalances”

The governor of the Polish National Bank (NBP) admits that the economic slowdown is substantial, but no fundamental problem.

December 6, 2012

Slovakia: Tax Revenues Declining

This year, the Slovak government will record a decrease in tax intake by € 230m. Despite higher tax rates, the trend will continue in the next three years.

December 6, 2012

Slovenia to Inject Further Money in NLB

The biggest Slovenian banking group NLB records a capital shortfall of € 375m. Risky loans reach more than € 1.5bn.

November 29, 2012

Reforms: Weak Performance of Austrian Government

The Brussels-based think-tank “The Lisbon Council” and German Berenberg Bank underline that Austria´s economic situation is still favorable. However, the implementation of reforms slackens.

November 29, 2012

OECD: CESEE Countries A Risk Factor for Austria

Next year, Austria´s economy will only show a growth rate of 0.8%. Unemployment is estimated to increase further. CESEE countries would lower the grow prospects for Austria, OECD says.

November 27, 2012

Romania: Fiscal Situation Improves

“Public budget deficit amounted to only 1.2% of GDP at the end of September, which was better than we had expected.” Raiffeisen Research states.

November 27, 2012

Allianz: Austria´s Economic Position Improves

According to the German insurance group, the economic situation of ten out of 17 Eurozone member countries has worsened. Austria could make up one place.

November 26, 2012

Austrian Municipalities in Troubles

Last year, the debt level of Austrian municipalities could be reduced. Nevertheless, the financial situation remains tensioned.

November 24, 2012

Czech Republic: Budget Approved

Next year, the Czech state budget is planned to reach 2.9% of GDP.

November 22, 2012

Hungary: Public Debt Level Declines

Due to the favorable currency development, the public debt level fell slightly.

November 20, 2012

Slovenia to Sharpen Austerity Measures

The Slovenian Prime Minister Janez Jansa announced that the austerity policy will be implemented even more consequently.

November 20, 2012

Vienna´s Debt Level Grows Considerably

In 2013, the public debt level of Austria´s capital will increase to € 4.34bn.

November 19, 2012

Serbia Attempts New Economic Reforms

The Serbian government does not only want to pursue a strict austerity policy. The country aims to become more attractive for international investors.

November 17, 2012

Austria´s Budget Deficit to Decrease Slightly

Today, the Austrian National Assembly has resolved the budget for 2013. This year, Austria will not fulfill the Maastricht Criteria.

November 16, 2012

Romania Hopes for New IMF Loan

The economic situation remains gloomy. Foreign direct investments are weakening. The economic outlook is rather decent.

November 13, 2012

Slovenia Still Rules Out Calling for Rescue

The Slovenian government tries to prevent to be bailed out by the EU and IMF by all means. However, experts fear that Slovenia is the next candidate for the safety net.

November 10, 2012

Fitch Confirms AAA for Austria

The outlook is „stable“. The rating agency is worried about the banking sector, however.

November 9, 2012 · Updated: November 9, 2012; 17:13

Austria´s GDP Could be € 27bn Higher

The insufficient infrastructure costs economic growth. According to the “Future Austria Infrastructure Report 2013”, Austria´s economic performance could be substantially better.

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

Slovenia: Creation of Bad Bank Should Solve Credit Crunch

At the moment, the Slovenian banking sector does not fulfill its main task. The real industry suffers from a credit crunch.

November 6, 2012

Fitch Raises Turkey´s Rating

According to the U.S. rating agency, the Turkish economy performs well and became stable.

November 5, 2012

Romania: Joining Eurozone is „Not for Sure”

Romania´s Prime Minister Victor Ponta expressed his concerns about introducing the euro in Romania.

November 5, 2012

IHS: Collapse of Eurozone would Cost 157,000 Jobs

The Austrian Institute of Advances Studies IHS says that Austria´s economic growth would be lower by 11 percentage points until 2016.

November 5, 2012

Hybrid Bond for Hypo Group

In order to cover the capital shortfall of Hypo Group, the Austrian state may inject € 500m into the nationalized bank. Furthermore, the bank plans to issue bonds worth € 1.0bn.

November 3, 2012

Czech Republic to Stagnate

The economic outlook for the Czech Republic had to be revised again. After a significant recession in 2012, the Czech GDP will only grow by 0.2% next year.

November 2, 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

Austrian Managers Lose Confidence in EU

Only a third of the Austrian managers believes that the problem in the Eurozone can be solved.

October 29, 2012

Belgrade to Sharpen Austerity Policy

Next year, Serbia reduces the budget deficit from 6.2% to 3.5% of GDP. The Serbian government expects that the economy will recover next year.

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

Czech Government to Change?

Prime Minister Petr Necas is under pressure. A failed austerity package would cause a government change.

October 23, 2012

Austrian Tax Quota to Increase

Austria´s Finance Minister Maria Fekter expects a higher tax intake in 2013. Next year, the tax quota will grow slightly to 43%. In order to prevent further expenses, Fekter rejects creating bad banks.

October 20, 2012

Poland Starts Privatization Program

The Polish government wants to sell state-owned assets worth € 5bn.

October 18, 2012

Estonia: IMF More Optimistic

The Estonian economy is expected to expand by 2.4% this year.

October 18, 2012

Austrian Budget: Experts Call for Further Reforms (Part 3)

Economists think that the budget does not contain enough reform steps. The opposition does not see any signs of progress.

October 16, 2012

Austrian Budget: Experts Call for Further Reforms (Part 2)

Austrian economic research institutes criticize the state budget and want the government to show more ambition.

October 16, 2012

Austrian Budget: Experts Call for Further Reforms (Part 1)

Today, the Austrian Finance Minister Fekter presented the 2013 Budget to Austrian National Assembly. The reactions were highly controversial.

October 16, 2012

Austrian Audit Court Criticizes Nationalization of Kommunalkredit

According to the Austrian Audit Court, the former owner of Kommunalkredit VBAG would have survived without the nationalization.

October 15, 2012

Austria to Violate Maastricht Criteria in 2012

This year, the Austria budget deficit will not be below the 3.0% threshold. This is mainly due to the banking package.

October 15, 2012

Orban Blames EU for Austerity Cuts

The Hungarian Prime Minister Viktor Orban explains that Hungary has no other choice but to deepen the austerity cuts.

October 13, 2012

Czech Government Attempts to Stimulate Growth

On the one hand, the Czech government deepens the austerity measures. On the other hand, growth-stimulating investments should be initiated.

October 13, 2012

Slovak Deficit to Reach 2.9% of GDP in 2013

The Slovak government approved the 2013 state budget. The deficit will be reduced step by step in the next years.

October 12, 2012

Austrian Economy Stagnates

According to Austrian National Bank (OeNB), the economic growth rate will be slightly negative. A recession is not excluded.

October 12, 2012

Hungary Not A focus of commercial Real Estate Investors

The risk appetite of real estate investors is still subdued. Hungary’s default risk remains relatively high.

October 9, 2012

Hungarian Economy Still Shows Weakness

The country´s economic growth remains low, public debt leaves no leeway for fiscal policies. A high level of foreign debt remains a significant weakness of the Hungarian economy.

October 6, 2012

Savers Must Pay for Debt Crisis

At the European Forum Alpbach, analysts explained that the debt crisis can only be solved through negative real interest rates.

October 6, 2012

New Austerity Package in Hungary

In order to cut the budget defict below 3.0% of GDP in 2013, the Hungarian government plans further cuts and tax increases.

October 5, 2012

Mitterlehner: „No Economic Stimulus Package“

Austria´s Minister of Economics rejects another stimulus package for the Austrian industrial sector. The budgetary situation would not allow that, he says.

October 4, 2012

ESM: Slovakia Pays € 264m

In October, the Slovak government will transfer € 264m to ESM. This will be the first two installments.

October 4, 2012

Eastern Europe Remains Austria´s Future Region

The Austrian economist Christian Keuschnigg thinks that the opening of Austrian companies toward Eastern Europe was a “highly favourable event”.

October 4, 2012

Hungary Must Lower Budget Deficit

The Hungarian National Bank puts pressure on the government to lower the budget deficit. By contrast, the government has widened the budget target to 2.8% instead.

October 4, 2012