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Public Expenses

Austria: State Revenues Increased

In 2013 the Austrian budget deficit came at 1.5 percent of GDP wile public debts increased to 74.5 percent of GDP.

March 31, 2014

Poland to Fulfill EU Commission’s Regulations

According to Polish Finance Minister Mateusz Szczurek, Poland will have no difficulties fullfilling the standards set by the European Commission with regard to the budget deficit.

March 27, 2014

Slovenia Looking for New Investors

In an attempt is looking for new investors the small Eurozone member country is starting a series of roadshows in Europe starting from Monday.

March 24, 2014

Slovenia: Exuberant Public Spendings

Public finances in Slovenia have gone wild as only after two months almost half of the total deficit planned for 2014 was spent.

March 20, 2014

Poland: Budget Deficit 2013 Below Target

The Polish budget deficit for 2013 has reached almost 82 percent after it was amended in August.

March 20, 2014

Belka: Poland Should Not Haste into Eurozone

Marek Belka, Governor of the National Bank of Poland (NBP), said that the country did not have to haste to become a member of the European single currency union.

March 17, 2014

Poland: “Time for Belt-Tightening”

Poland is required to cut the deficit in the public finance sector.

March 13, 2014

Hypo Group: Reason for “Budget Lie”

The situation of ailing bank Hypo Alpe Adria may be worse than assumed. The supervisory board of the bank and the taskforce are discussing about the half-yearly report.

August 7, 2013

Austrian GDP Growth Above European Average

In 2012, Austria saw a growth of GDP of 0.9 percent which is signifantly above the European average.

July 12, 2013

Spindelegger: Fitness Program for Austria

Austrian economy supposed to be boosted by reforms of “Unternehmen Österreich 2025, and a rejection of new taxes.

July 10, 2013

Austria: Government Agrees on Stimulus Package

Startled by construction company Alpine’s insolvency, the Austrian government has agreed on the fiercly discussed stimulus package. An amount of € 800m is required additionally.

June 25, 2013

Hungary: GDP Fell by 2.7%

The gross domestic product of Hungary decreased by 2.7% in the fourth quarter of 2012 compared to the corresponding period of the previous year.

March 8, 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

Bulgaria: Budget Balance Negative

The budget balance under the Consolidated Fiscal Programme (CFP) as of end-January 2013 is negative, amounting to BGN 536.5 million.

March 4, 2013

Poland`s Economy Slows Down Further

According to preliminary estimates, the Gross Domestic Product in the 4th quarter of 2012 only grew by 1.1%.

March 4, 2013

Austria: Public Spending Ratio Forces Country to Reforms

Austria’s economy is stronger than the European average, however, it is still in need of reforms. Suggestions are made by head of WIFO Aiginger who demands a new strategy until 2025.

March 2, 2013

Bulgaria: Stop of Constructing Nuclear Power Plant in Belene

Together with Russia, Bulgaria stopped the controversial construction of a nuclear power plant in Belene close to the Danube.

March 1, 2013

Outlook: Europe Remains Under Threat

The European debt crisis will remain a major issue, Austrian Erste Group says.

December 28, 2012

Pension Costs to Increase Moderately

According to CNB (Czech National Bank), pension costs will increase by 3.0% of GDP in the next fifty years.

November 30, 2012

Future of Czech Government Uncertain

Although Prime Minister Petr Necas was confirmed as party leader of the governing ODS, the government is still threatened to collapse.

November 6, 2012

Lithuania´s Government Aims to Join Eurozone

The social democrat Algirdas Butkevicius may become Lithuania´s next Prime Minister. His main targets are austerity and the accession to the Eurozone.

October 31, 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

Austrian Experts Urge for Pension Reform

According to experts, Austrian citizens should postpone their retirement by four to five years.

September 25, 2012

Next Pension Reform Ahead

European Forum Alpbach: In 2016, the next pension reform may be necessary in Austria.

September 1, 2012

Stability of Austrian Budget Endangered

Public expenses are on the rise. At the same time, the tax intake shrinks. Economist Felderer warns of expensive election gifts.

July 12, 2012

Austrian Industry Urges Government to Continue Austerity Policies

The Austrian government has to perform its job in order to retain competitiveness and economic growth in future. Finance Minister Fekter is highly satisfied with the government´s economic report.

July 10, 2012

Support for Export-Oriented SMEs

The Austrian Ministry of Finance increased the bill guarantee facility for small and medium-sized enterprises to € 1.2bn.

June 29, 2012

IV: „Budget Consolidation Supports Economic Growth“

The Federation of Austrian Industries pushes for structural reforms in order to cut public expenses.

June 8, 2012

Austrian R&D Expenses Rise to € 8.61bn

In 2012, R&D expenses are expected rise by 4.0% in Austria. The bulk of R&D expenses is contributed by enterprises.

June 6, 2012

Androsch Criticizes Hypo Group Purchase

In 2009, the Austrian state nationalized the financially stricken Hypo Group. Much time was wasted, the industrialist and Fimbag board member Hannes Androsch thinks.

May 30, 2012

Austrian Budget Target Endangered

In spite of decreasing revenues and rising expenses, Austria´s Minister of Finance Maria Fekter expects to reach the budget target.

May 30, 2012

Exposure in Eastern Europe Remains Austria´s Weak Point

The Commission of the European Union warned Austria of the big exposure of domestic banks in Eastern Europe. Moreover, the austerity package was criticized.

May 30, 2012

Austrian Chamber of Economics Claims Growth Package

Christoph Leitl, President of the Austrian Chamber of Commerce thinks that Austria and Europe would both need growth and austerity measures.

May 25, 2012

Austrian Economy Grows Slowly

After a period of stagnation, the Austrian economy showed a small growth rate of 0.2% in the first quarter of 2012.

May 15, 2012

Austrian Ministry of Finance Presents Public Expense Statistic

Finance Minister Maria Fekter initiated an information campaign. 22.6% of the public expenses are allocated to provinces and municipalities.

May 12, 2012

Austrian Demand for New Buildings Declines

Due to the weaker economic growth and the austerity policies, demand for new buildings is decreasing.

May 12, 2012

Constant Rise in Austrian Research Spending

Austrian spending on research and development is set to increase by 4.2% in 2012 to reach € 8.6bn.

May 10, 2012

IHS: Austerity Package Smaller than Expected

The Austrian Institute of Advanced Studies (IHS) considers the austerity package to be effective. Proceeds will be smaller than expected, though.

May 9, 2012

Austrian Research Intensity to Reach 2.80% in 2012

According to a forecast of Statistics Austria, € 8.6bn are expected to be spent on research and development (R&D).

April 25, 2012

Call for Structural Reform of Social Policy

The Federation of Austrian Industries reaffirms the high non-wage labor costs and intends to raise efficiencies in the health sector. The retirement age would be too low.

April 12, 2012

Health Insurances Reduce Debts

Over the last three years, Austrian health insurance institutes could cut debts by € 1.0bn, which is substantially more than expected.

April 12, 2012

Austria Pays Less Interest

Despite the lost „AAA“, Austria´s interest rate on recently issued bonds is on a record low.

April 10, 2012

Failed Austerity Package: „Austrian Rating Not Affected“

Bernhard Felderer, director of IHS (Institute of Advanced Studies) thinks that the incomplete austerity package has no effect on Austria´s prospects to return to the Triple-A status.

April 7, 2012

Kyoto Protocol: Austria Spends € 160m

Austria will invest € 160m ($213.4 million) in climate protection projects in Europe to cover the gap it faces to meet commitments under the Kyoto Protocol, Environment Minister Niki Berlakovich said.

April 4, 2012

Public Deficit in 2011 Below Maastricht Criteria

The Austrian state recorded a budget deficit of 2.6%. Public debt rose to 72.2% of GDP in 2011.

March 29, 2012

EU Financial Framework Negotiations Enter the Hot Phase

State Secretary Wolfgang Waldner underlines Austria´s position as net contributor at the General Affairs Council in Brussels.

March 27, 2012

Budget: Wifo Misses Future Investments

The Austrian Institute of Economic Research (Wifo) commented the government´s draft of the budget. There is still a lack in active fiscal policy, Wifo states.

March 26, 2012

Despite Loss of AAA: Austria Pays Less Interest

The Austrian Republic had to pay € 300m less than initially expected in 2011. In spite of the downgrade by S&P, the trend seems to continue.

March 10, 2012

Austerity Package: Sorger Misses Reforms

The President of the Federation of Austrian Industries (IV), Veit Sorger, sees a massive lack in structural reforms. The austerity package is a “missed opportunity”.

March 3, 2012

Environmental Expenditure Growing

Austrian environmental protection expenditure 2009: €12.7bn; expenditure doubled from 1995 to 2009.

February 23, 2012
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