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Slovakia
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
Moderate Growth in Slovak Foreign Trade
Increasing foreign trade development in August and over the first eight months of 2012.
October 9, 2012
Slovakia: Growing Industrial Output, Declining Construction Sector
The Slovak Industrial production index (IPI) increased by 17 % in August 2012 compared to August 2011.The, construction output decreased, year-on-year, by 13,7 %.
October 9, 2012
Flat Tax in Austria?
The Austrian opposition party presented a “fair tax” model. The other parties criticized the proposal fiercely.
October 6, 2012
Czech Republic: Industrial Sector Most Important
Among the EU members, the Czech Republic shows the highest percentage of people working in the industrial sector.
October 6, 2012
Slovakia´s Growth Still Driven by Exports
The industrial sector still shows dynamics. However, government spending and consumption is falling further.
October 5, 2012
CEE Countries Must Work Upon Economic Convergence
CEE countries are struggling with weaker external demand and uncertain consumers, whereas in most cases fiscal policy is under control. Labour productivity, costs and competitiveness of CEE region give reason for optimism.
October 5, 2012
Romania: Lowest Importance of Service Sector in EU
Almost 70% of employed persons in the EU27 worked in the service sector in 2011. The scope ranges from 43% in Romania to 85% in Luxembourg.
October 5, 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
Nine Prime Minister Discuss EU Budget in Bratislava
The Prime Ministers of nine countries of Central and Eastern Europe will meet in the Slovak capital on October 5.
October 3, 2012
Slovakia Abolishes Flat Tax
Because of the austerity pressure, Slovakia gives up its flat tax. The corporation income tax rate increases to 23% from 19%.
October 3, 2012
Slovakia: Budget Deficit Decreased Slightly
Last month, the Slovak state deficit was down to € 2.59bn. In August, the deficit stood at € 2.68bn.
October 2, 2012
Raiffeisen Brand to be Introduced in Slovakia
The Austrian bank will open its first branches in November.
October 2, 2012
Slovak Foreign Trade Activity Growing Remarkably
In 2011, goods in the amount of € 56 959,9m were exported from the Slovak Republic. Compared with 2010, the total export increased by 18%.
October 1, 2012
Slovak Business Atmosphere Aggravates
Results of business survey and economic sentiment indicator in September 2012: mood in the Slovak economy worsens for the fourth time in a row.
October 1, 2012
MOL Announces Massive Investments in Hungary
The Hungarian oil group plans to make investments of € 1.1bn in the next three years.
September 25, 2012
Public Debt: New EU Members Are More Flexible
Compared to old EU member states, the new member states have more fiscal leeway to overcome the crisis.
September 24, 2012
EU: Germany Biggest Net Payer, Poland Biggest Net Recipient
In 2011, Poland received EU-aids of € 11bn. Among the new EU members, Hungary ranks second. In terms of GDP, Hungary is the biggest beneficiary.
September 21, 2012
Slovakia: Saving Grows Despite Falling Real Income
On average, deposits come at € 4,379. Against 2011, this is an increase by 6.1%.
September 21, 2012
National Bank of Slovakia Adapts GDP Growth Forecast
According to NBS, the Slovak economic growth is expected to reach 2.7%. This is higher by 0.2 percentage points than NBS forecasted in June.
September 19, 2012
Slovakia´s Inflation at 3.7%
In August, the inflation rate reached 3.7% in Slovakia, the Slovak Statistical Office announced.
September 15, 2012
Hungary Becomes Tax Haven for Czech and Slovak Enterprises
In the last three years, the number of Czech enterprises with head office in Hungary was up by 41%.
September 15, 2012
Slovak Leasing Industry Shrinks
In the first half of 2012, sales in the Slovak leasing market were down by 5%.
September 15, 2012
Slovakia´s Economy Still Performs Well
In the second quarter of 2012, GDP growth came at 2.8% after 3.0% in the first quarter.
September 15, 2012
Austria Second-Largest Investor in Slovakia
Foreign Minister Spindelegger opens new Austrian Embassy premises in Bratislava and underlines the close economic ties between Slovakia and Austria.
September 14, 2012
OMV Sells 15% Stake in CEGH to Slovak Eurstream
The Austrian oil company reduced its share in Central European Gas Hub from 80% to 65%.
September 14, 2012
Slovakia: Declining Construction Production in July 2012
In July, the Slovakian construction output decreased, year-on-year, by 11,2 % to € 459,9m.
September 11, 2012
Slovakia: Increasing Employment in Industrial Sector
The highest salaries were recorded in the IT industry, followed by the manufacturing industry.
September 11, 2012
World Economic Forum: Slovakia´s Performance Worsens
According to the World Economic Forum Competitiveness Report, Slovakia´s competitiveness slipped again.
September 10, 2012
Slovakian Industrial Production on the Rise
Industrial production index (IPI) increased by 18,5 % in July 2012, compared with July 2011. The development was mainly affected by a rise in manufacturing by 22,6 %.
September 10, 2012
Slovakia: Rising Unemployment Despite 2.8% GDP Growth
In the second quarter of 2012, Slovakia´s GDP moved up by 2.8%. The unemployment rate reached 13.6%.
September 6, 2012
Slovakia Records Growing Current Account Surplus
In the first five months of 2012, Slovakia´s current account surplus reached € 1.24bn. Against the reference period of 2011, this is an increase by € 350m.
September 4, 2012
Austrian Government and National Bank Against Return to Shillling
Federal Chancellor Werner Faymann and Governor Ewald Nowotny oppose to the idea of returning to Austria´s former currency.
September 1, 2012
Goldman Sachs Lowers Expectations for Austrian Banks
The U.S. investment bank anticipates decreasing earnings.
August 27, 2012
Slovakian Unemployment on the Rise
In July, Slovakia´s unemployment quota rose by 0.12 percentage points to 13.27%.
August 21, 2012
Slovakia Aims to Lower Budget Deficit Below 3.0% of GDP
The Slovakian government presented the draft state budget for 2013. The budget deficit should not exceed 2.9% of GDP, the Finance Ministry announced.
August 21, 2012
Slovakia Fights Against Budget Deficit
In order to comply with the EU Stability Pact, Slovakia needs to cut public expenses by € 630m.
August 16, 2012
Hungary: Most Foreign Firms from Austria
In Hungary, foreign companies employ 25% of the workforce. However, the share of foreign companies only reaches 3.3%
August 7, 2012
Slovakia: Rating Confirmed by S&P
The U.S. rating agency Standard & Poor´s reiterates Slovakia´s A/A-1 rating. The outlook is is still „stable“. Slovakia´s labor market data are less promising, however.
August 6, 2012
Erste Group: Concerns Despite Profits
Yesterday, the Austrian banking group published its results for the first half year. The business in Romania, Hungary and Ukraine causes worries.
August 1, 2012
CESEE: Still High Degree of Corruption
According to Transparency International, „political influence over independent institutions is a systemic corruption risk in the Czech Republic, Hungary, Poland and Slovakia“.
July 31, 2012
Poland as CESEE´s Locomotive
This year, the CESEE region should record a growth rate of 1.7%. However, the situation is highly different.
July 25, 2012
Slovakia: Bank Tax Should Reach € 1.0bn
The Slovakian government raised the bank tax up to 0.4% on deposits. Once the tax intake totals € 1.0bn, the tax should be abolished.
July 21, 2012
IMF: New Central and Eastern European Constituency
Austria, Belarus, the Czech Republic, Hungary, Kosovo, the Slovak Republic, Slovenia and Turkey have established a Central and Eastern European Constituency at the International Monetary Fund.
July 11, 2012
Slovakia: Flat Tax to be Abolished
This summer, the Slovakian government will resolve a package of 22 measures in order to fight public debt.
July 10, 2012
Purchasing Power in CEE Region: Czech Republic Ranks First
Among Poland, Slovakia and the Czech Republic, Bratislava records the biggest regional purchasing power. In total, the Czech Republic ranks first.
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
Energochemica Enters the Prague Stock Exchnage
Energochemcia SE officially announced its intention to enter the Prague Stock Exchange (PSE). The company wants to focus on acquisitions of key energy and chemical industry companies.
June 29, 2012
Treichl: „Europe Does Not Need the Euro“
Andreas Treichl, CEO of Austrian Erste Group thinks that the European Union would work very well without the common currency. A common army would be more important.
June 25, 2012
Austria Pushes for Danube Strategy
Together with Germany, Slovakia and Bulgaria, Austria wants to implement a common transport strategy for the Danube.
June 21, 2012
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