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Recession

Singer: “Forex Interventions Were Right Measures”

Miroslav Singer, Governor of the Czech National Bank (CNB), considers the forex intervention and the weakening of the Czech Crown as the right measures in the light of the most recent inflation figures.

February 13, 2014

Croatia: S&P Downgrades Rating

Standard&Poors; has downgraded Croatia’s rating to “BB”. The outloock on the long-term rating for the country is at least “stable”.

January 24, 2014

Austria: OeNB Forecasts Modest Economic Growth

According to the Austrian National Bank (OeNB) economic growth in Austria only came at 0.3 percent last year.

January 24, 2014

Czech Economy to Grow Not Sooner than 2016

The Czech economy will struggle to show economic growth both this and next year, according to the Czech Federation of Trade Unions CMKOS.

January 21, 2014

Slovenia: Growth through Diplomatic Network

Slovenian Finance Minister Karl Erjavec assured that throught diplomatic network the country’s economy will still be supported.

January 9, 2014

Slovenia: Budget Shortfall Greater than Expected

As per the end of November the country’s budget deficit amounted to almost € 1.62bn, according to the latest estimates by the Finance Ministry.

December 20, 2013

Czech Republic: Economic Sentiment Rises

As published by the Czech Statistical Office (CSU), the Czech economic sentiment indicator rose by one point to 5.5 points compared to November.

December 20, 2013

Bulgaria: Economic Upturn Not Sooner Than 2015

As reported by Bulgarian daily Standart, an economist at World Bank pointed out that the country has not yet reached the economic situation of before the start of the financial crisis in 2008.

December 20, 2013

Bulgaria: Majority of Citizens Call for Early Elections

According to a poll, 80 percent of Bulgarians demand early elections.

December 17, 2013

Ten Capital Market Themes for 2014 by Raiffeisenbank

Leading indicators show a recovery of global growth.

December 11, 2013

Czech Republic: Industrial Output Slowed Down

In October, the industrial performance in the Czech Republic only grew by 3.5 percent on a year-on-year comparison basis.

December 9, 2013

Czech Republic: CNB Aquires Foreign Currencies

During monetary interventions CNB has purchased foreign currencies in the amoung of CZK 200bn.

November 26, 2013

EBRD: Eastern Europe “Stuck in Transition“

The European Bank for Restructuring and Development (EBRD) warned that Eastern Europe and the countries of the former Sovjet Union could remain “stuck in transition”, which is the titel of the current report.

November 21, 2013

Czech Republic: CNB to Intervene in Forex Market

After the Czech koruna (CZK) was devalued, the Czech National Bank (CNB) is keen on preventing a deflation. However, the key rate cannot be cut anymore as it is close to zero.

November 11, 2013

ECB to Keep Interest Rate Low

Despite a low inflation, the European Central Bank (ECB) will keep the interest rate low. The Council of ECB has held a meeting on Thursday morning

November 7, 2013

Mitterlehner: “2014 Will Become Significantly Better“

Austrian Minister for Economy Reinhold Mitterlehner considers the Austrian economy to be in a spirit of optimism as an upturn in Europe has become evident. According to him, 2014 is supposed to become “significantly better” than 2013.

October 17, 2013

Bank Austria: Economic Recovering in Small Steps

The Bank Austria Business Indicator provides an overview of the current economic situation in Austria.

October 16, 2013

Croatia: Major Reforms Required for Economic Upturn

Croatia continues to suffer from recession - its economy has not grown since 2008, contracting in 2012 by 2% and in 2013 by 1%.

September 26, 2013

Eurozone: Strongest Growth Rates in Two Years

The Eurozone continues to recover. Businesses in industrial production and in the service sector increased to a new high in more than two years. However, growth in both sectors is still not enough for the creation of new jobs.

August 22, 2013

Slovenia: Business Organizations Post Wishlist to Government

Slovenian business organizations have forewarded a wishlist to the government in which they request more "breathing room" by the lowering of taxes and measures to enhance development and competitiveness.

August 20, 2013

End of Recession Supports Stock Exchanges in Europe

The Eurozone seems to have finally left recession behind. This is one of the reasons why markets closed trades with a plus on Wednesday.

August 15, 2013

Slovenian PM Convinced Agreement on 2014 Budget Will Be Reached

Slovenian Prime Minister Alenka Bratusek is convinced an agreement will be reached regarding changes to the 2014 budget

August 13, 2013

Serbia: No Early Elections Despite of Break of Coalition

Dismissal of Finance Minister Mladjan Dinkic. URS is leaving the governmental alliance. Despite of a break of the coalition, there will be no early elections in Serbia.

July 31, 2013

Czech Republic to Remain in Recession

The Czech economy will, according to the Finance Ministry in Prague, shrink by 1.5 percent and only start growing again in 2014 by 0.8 percent.

July 26, 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

Austrian Economy Dependent on Neighbor Countries

Austria’s economy is getting through the crisis better than the Eurozone. However, the country owes this partly to neighboring countries.

July 11, 2013

IMF Downgrades Growth Prognosis for Eurozone

According to the International Monetary Fund (IMF), the prospects of growth in the Eurozone are still positive. However, they are not as good as in April. Germany and Austria are concerned as well.

July 10, 2013

Slovenia’s Banking Sector Threatened by Delay of Bad Bank-Transfers

After the EU Commission denied approval for the first transfers of bad loans to the bank asset management by June 28, the reorganization of the banking system in Slovenia has been postponed.

July 9, 2013

Russia: Putin Changes Personnel at Ministry of Economics

In the light of the menancing recession, Russian president Vladimir Putin has reorganized the leaders of economic policy-makers.

June 24, 2013

Strikes Paralyze Poland

Protests against government’s changes in education, social and labor policy.

March 27, 2013

National Bank of Slovenia Reports Slowing Growth

The banking system’s total assets were down by € 88.5m in January or 6.6% y/y. The banks repaid liabilities to foreign banks in the amount of € 171m and to the Eurosystem in the amount of € 78m.

March 21, 2013

Czech Republic: GDP Decreasing by 2.1%

The gross domestic product adjusted for price, seasonal, and calendar effects decreased according to the refined estimate by 1.2% compared to 2011; the decrease was gradually deepening during the year.

March 11, 2013

Recession in Euro-Area Still Affects CESEE Countries

According to the Vienna Institute For International Economic Studies (wiiw), the double-dip recession over, yet there is no economic growht in sight for CESEE countries.

March 7, 2013

Slovakia: Economy Stagnating

On February 22, the European Commission anounced its modifications concerning the annual prognosis of the eurozone’s economic outlook for 2013. While the majority of the countries are in recession, Slovakia’s economy is forecast to grow by 1.1 %

March 4, 2013

IMF Issues Optimistic Forecast for Slovakia

According to IMF, Slovakia´s economy will grow by 3.3% this year. However, the forecast had to be reduced compared to the prior forecast.

October 10, 2012

Austria Faces No Recession Yet

According to a flash estimate for the second quarter of 2012, the Euro area and EU27 GDP was down by 0.2%.

August 14, 2012

Crisis Reaches Austria’s Real Economy in 2012

Economic growth will collapse next year, investment activities and consumption will suffer from the crisis. A recovery is expected for 2013.

December 21, 2011

Austrian Poverty Rate Unchanged

EU-SILC 2010: No increase of the at-risk-of-poverty rate due to the economic crisis; declining living conditions for the poor in a long-term perspective.

December 17, 2011

S&P: Austria Faces Recession

The rating agency forecasts shrinking economic output for countries with large exports.

December 17, 2011

Austria Falls In Recession in 2012

According to analysts of Raiffeisen Research, the Austrian economy could shrink by 0.5% in 2012. Up to now, only a small growth rate has been expected by economists.

November 22, 2011

GDP Growth below Expectations in Q2

The real growth rate was revised downwards to 0.7%. Wifo expects a normal slowdown but no economic crisis.

September 16, 2011

Economic Downturn Reaches Austria

A current survey indicates an imminent deterioration of the Austrian economy. Researchers don’t expect a recession but a clear downward trend.

September 9, 2011

Austria´s Economy Performed Better than EU-average During Crisis

The Vienna Institute for International Economic Studies (wiiw) has just published a study, which quantifies trade-related transmission mechanisms of the global drop in investment demand and output to recession in Austria.

April 28, 2011

Results of the Crisis: Austria in 14th Place Among 37 Countries

Austria is one of the five EU countries least affected by the global crisis.

February 10, 2011

CEE: Catch-Up Process Starts Again

After the growth break caused by the economic crisis, Eastern Europe is back on the upswing. However, the catch-up process has been delayed by years.

November 22, 2010