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Slovakia


Czech Republic to Enlarge Nuclear Energy Production

Until 2014, the Czech Republic wants to double the share of nuclear energy production. The Temelin and Dukovany nuclear power plants will be enlarged.
November 9, 2012


Slovak Bond Yields at Record Low

Erste Group successfully placed € 1.25 bn 12-year benchmark Slovak government Eurobond at record low yield of 3.375%. New issue amassed € 2.1 bn order book across 140 investors.
November 8, 2012


CEE Deleveraging Remains Moderate

Austrian, German and Italian banks kept lending to CEE6 (except Hungary) relatively stable. Shifts in foreign capital structure and allocation from private to public sector might pose risks to future growth.
November 8, 2012


Slovakia: Internal Trade Growing Moderately

The Slovakian retail trade sector is shrinking. The wholesale turnover was up by 2.2%
November 7, 2012


Purchasing Power: Austria Ranks 6

Regarding the purchasing power per head, Austria is significantly above the European average of € 12,802.
October 31, 2012


Czech Republic and Slovakia: Nuclear Power Remains Main Energy Source

The Czech Prime Minister Petr Necas and his Slovak counterpart Robert Fico underline that nuclear energy will remain the future technology.
October 30, 2012


Saving in CEE Becomes More Important

Poles and Slovaks are CEE's savings champions, putting aside 15% resp. 12% of their monthly income. Austrians, Germans and Czechs follow suit with 9%.
October 29, 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


Slovakia: Employment and Nominal Wages Growing

The highest wage increase was observed in the manufacturing and automotive industries. Employment was down in the construction sector and grew in the service sector.
October 12, 2012


Alpine Needs Help from Banks

The Austrian construction company faces liquidity constraints. Talks with banks were started already.
October 11, 2012


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