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Serbia

Albania to Become Official Candidate

The Western Balkan country was recommended by the EU Commission. Serbia and Kosovo must reach a “sustainable solution”.

October 10, 2012

Serbia´s National Bank Fights Against Inflation

Today, the Serbian National Bank raised the base rate from 10.50% to 10.75%. IMF has lowered the economic outlook for Serbia.

October 9, 2012

"Serbia can count on Austria to be its partner"

The Austrian State Secretary encourages Serbia to embark on pro-European course.

October 5, 2012

EU as „Serbia´s Most Important Market“

The U.S. economist Paul Krugman thinks that Serbia´s future is the European Union. The EU is worried about the turn towards Russia.

October 4, 2012

Serbia to Grow in 2013

The Serbian economist Jurij Bajec explained that the Serbian economy will recover next year. Real GDP growth will reach 2.0%, he says.

October 1, 2012

Serbia Expects Rising Tax Intake

In order to meet demands of IMF, the Serbian Parliament approved the revised 2012 budget. The tax intake will not solve the country´s problems, economists consider.

September 29, 2012

Serbia: Bad Loans Declining Slightly

At the end of June, the share of non-performing loans came at 19.5%.

September 29, 2012

Serbian Industrial Production Still Shrinks

According to Raiffeisen Research, the crisis in the industrial sector goes on. Real wages are shrinking.

September 27, 2012

Serbia Asks China for Loan

The Serbian Minister of Finance Mladjan Dinkic asked the Chinese Exim Bank for a € 850m loan in order to realize construction projects. IMF is not satisfied with Serbia´s austerity policies yet.

September 26, 2012

Dacic: „Reforms, Attracting Investments and Starting EU Integration“

The Serbia Prime Minister Ivica Dacic underlined that the government will implement reforms in order to stop the economic crisis.

September 26, 2012

Serbia: „EU Cannot Force Us to Recognize Kosovo´s Independence“

The Serbian Prime Minister is ready to continue talks with Kosovo at a higher political level. For the EU, a recognition of Kosovo´s indepence is the precondition for Serbia´s EU accession.

September 22, 2012

Serbia Attempts to Stop Rise in Public Debt

The Serbian government aims to achieve a balanced buget in 2014. Austerity measures should be sharpened.

September 22, 2012

Serbia to Privatize Publicly Held Companies

In order to reduce the budget deficit, the Serbian Minister of Finance Mladjan Dinkic plans to sell a part of the state-owned companies.

September 22, 2012

Serbian EU Approach Endangered

The Serbian government rejects making concessions to Kosovo. The EU accession may be damaged, however.

September 19, 2012

Serbia Lifts VAT Rate

In order to prevent the national bankruptcy, the Serbian government raises the VAT by two percentage points.

September 11, 2012

RWE Agrees to Strategic Collaboration with Serbian Energy Utility EPS

The German energy group has signed a Memorandum of Understanding on further development of energy generation in Serbia. The focus will be on laid on hydropower.

September 11, 2012

„I´m Concerned About the Atmosphere in Southeastern Europe“

In an interview with the Austrian newspaper “Presse”, the Croatian Minister of Foreign Affairs Vesna Pusic explains that Croatia still aims to become a member of the Eurozone. The Maastricht Criteria would not be fulfilled yet, she says.

September 11, 2012

Temporary Surplus in Serbia´s Budget

Due to the VAT intake, Serbia faced a budget surplus in July. In June, Serbia recorded a massive deficit.

September 8, 2012

Serbia: Exports Decline, Foreign Deficit Goes Up

According to RCB (Raiffeisen Centrobank), the draught in Serbia is likely to reduce the corn yield exports volumes. The trade deficit rose by 13.6% in June.

September 8, 2012

Serbian Industrial Production Declines

In June, Serbia´s industrial production fell by 4.0% against 2011. The outlook is not promising, RCB says.

September 7, 2012

Serbia´s Current Account Deficit on the Rise

According to RCB (Raiffeisen Centrobank), the current account gap widened in June by 15.6% mom supported by remittances fall (-32.0% mom),

September 7, 2012

Serbian Government Tries Act of Liberation

Serbia´s economy weakens, the outlook is negative. Even a bankruptcy is not excluded anymore.

August 29, 2012

Croatian Labor Market Crisis Deteriorates

Not only the unemployment rate is increasing. Croatia has the third-highest youth unemployment rate in Europe.

August 29, 2012

Serbians Push Government for Reforms

The support for an EU membership has fallen below 50%. However, more Serbians call for economic and social reforms.

August 27, 2012

Serbia: Rise in Poverty Expected

The economic crisis in Serbia sharpens. Millions of households are not able to repay their debts.

August 25, 2012

Serbia: Struggle for Central Bank Sharpens

After the resignation of governor Dejan Soskic, the EU warns Serbia of abolishing the independence of the Serbian Central Bank.

August 6, 2012

Budget Crisis: Serbia to Reduce Foreign Exchange Reserves

In order to mend Serbia´s budget hole, the government plans to amend the Central Bank law.

August 2, 2012

Rising Serbian Budget Deficit Causes Worries

This year, Serbia has to borrow € 4.2bn. A budget deficit of € 300m is forecasted in 2012.

July 24, 2012

EU – An Escape for Serbia?

The economic prospects for Serbia are gloomy. The priority of the new Serbian government is to join the European Union.

July 14, 2012

Southeastern Europe Faces Recession

According to the Vienna Institute for International Economic Studies (WIIW), Southeastern Europe is the weak point among European emerging countries.

July 7, 2012

Austria Remains One of the Biggest CESEE Investors

Austria is still an important net investor in Central, Eastern and Southeastern Europe. However, the global importance of the region did not increase.

July 6, 2012

Telekom Austria Not Interested in Telecom Kosovo

The privatization of the state-owned Kosovan PTK has begun. Telekom Austria will not participated in the sales process.

July 5, 2012

CEE Defies Turbulences in the Eurozone

GDP in CEE expected to grow 2.6 per cent in 2012 – eurozone expected to shrink by 0.3 per cent. Growth forecast for Austria’s GDP at 0.7 per cent in 2012

July 5, 2012

Real Estate Crisis in the Balkans Has Deepened

Due to the economic crisis in Southeastern Europe, real estate prices are still falling. Since 2008, prices fell by up to 50%.

June 28, 2012

CEE Banking Sector „Performs Well“

The Austrian Raiffeisen Centrobank sees high-growth potential in the CESEE region. Loan growth is at „healthy levels“, there are „no signs of a credit crunch“.

June 6, 2012

Downsizing: Hypo Group Aims to Achieve Proceeds of € 1.5bn

The nationalized Austrian banking group Hypo Group Alpe Adria starts its sales program in SEE countries and wants to achieve proceeds of € 1.5bn

May 21, 2012

Ruttenstorfer Enters Serbian Gazprom Subsidiary

The former CEO of Austrian OMV becomes a member of the supervisory board of the Serbian NIS.

May 9, 2012

Improved Business Atmosphere in CESEE Region

According to a survey by OeKB (Oesterreichische Kontrollbank), expectations of investors are beyond the level of January. Austrian exports to the CESEE region may increase.

May 4, 2012

Agrana Aims for Expansion into Balkan Region

The Austrian sugar and starch company Agrana is looking for acquisition targets in the Western Balkans.

April 23, 2012

RHI Pursues Growth Strategy in India

The Austrian RHI AG, the world’s biggest maker of fireproofing ceramics, is pursuing a takeover in India and may start a joint venture in Russia to expand its global reach.

April 21, 2012

EVN Expands into Serbia

EVN subsidiary WTE Wassertechnik GmbH wins the contract for construction of a drinking water treatment plant in Zrenjanin, Serbia.

April 19, 2012

Waldner: “Serbia Needs to Continue its Approach to the EU Unwaveringly”

Wolfgang Waldner, Austrian State Secretary is on a working visit in Belgrade.

April 12, 2012

Serbia: Promising Market for Austrian Construction Industry

The Western Balkan state Serbia invests massively in the modernization of its infrastructure. This year, the civil engineering sector will grow by 20%.

March 19, 2012

RHI Eyes Serbia’s Magnohrom

RHI, the Austrian maker of fire- proofing ceramics, is interested in Magnohrom, Serbia’s sole basic refractory product manufacturer, Privatization Agency chief Vladislav Cvetkovic said.

March 3, 2012

Austrian Economy Appreciates Serbian Approach to EU

Serbia officially became candidate for the EU-access. Christoph Leitl, President of the Austrian Chamber of Commerce, emphasized the importance of the “European perspective” for Serbia.

March 2, 2012

CSC Establishes its CEE Headquarters in Vienna

The U.S. IT service supplier CSC upgrades the Viennese subsidiary as regional headquarters for ten countries.

February 22, 2012

Sberbank Upgrades VBI´s Headquarter in Vienna

After the acquisition of the Austrian VBI, the Russian bank wants to expand massively in Europe.

February 20, 2012

Enso Hydro Looking for Hydro Power Plants in SEE

The Austrian hydro power specialist aims for collecting € 70m of Deutsche Bank´s subsidiary DWS. Currently, enso hydro searches for new hydro power projects.

February 1, 2012

3E Group Grows in Eastern Europe

The Austrian building material company´s revenues were up by 3.2% in 2011. Total sales reached € 546m.

January 30, 2012

Good Export Chances in SEE Region

The Austrian Chamber of Commerce regards South-Eastern Europe as growth region. Importance for the Austrian export industry is seen to increase.

January 28, 2012
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