Social Policy

Croatia: Milanovic Promises Economic Recovery

Prime Minister vows that Croatia's economy will be put on a sounder footing.

November 28, 2013

Austria: “Budget on Target“

State Secretary for Finance Andreas Schieder points out that “the figures from the Finance Ministry for the budget performance until October show that the budget 2013 is on target.” Social Minister Hundstorfer calls for reforms.

November 25, 2013

Poland: T-Bonds not to Affect Budget Deficit

According to GUS, next year’s budget deficit will not be impaired by the transfer of treasury bonds and other assets.

October 28, 2013

Southeastern Europe: Dramatic Labor Market Conditions

In Southeastern Europe, the labor market conditions are similarly bad as in Southern Europe. Above all, youth unemployment is extremely high.

October 22, 2013

CESEE Region Suffers from Migration

The countries of Central, Eastern and Southeastern Europe are confronted with a highly unfavorable demographic trend. The brain-drain is expected to persist.

October 17, 2013

Poland to Keep VAT Rates The Same Until 2015

In order to cut debts, the Polish government decided not to lower the level of VAT.

October 15, 2013

IMF: Serbia´s Reforms are Not Sufficient

On the occasion of a visit in Serbia, the IMF commented the efforts of the Serbian government to cut the budget gap. The austerity cuts are right, but the country needs further reforms, IMF´s team said.

October 10, 2013

Bratusek: “We Are Paying for Your Debts”

On Tuesday Slovenian Prime Minister Alenka Bratusek presented the budget draft for 2014 and 2015 to the members of parliament.

October 9, 2013

World Bank: 47 Banking Crises in the Past 40 Years

47 banking crises that have struck 116 countries in the past 40 years - World Bank

October 8, 2013

Austria: President Prefers Grand Coalition

President Heinz Fischer has confirmed his wish for the formation of a grand coalition as this would be “the most reasonable solution”, according to him. Other possibilities were afflicted with too many uncertainties.

October 7, 2013

Bulgaria: Shrinking Workforce Leading to Lower Growth

Bulgaria is facing a number of challenges resulting from shifting demographics.

October 4, 2013

Austria: Pussyfooting around Forming Government Coalition

The Austrian People’s Party is picky in regard to choosing a coalition partner. So far the ÖVP has shown no interest in starting coalition talks with former partner SPÖ. However, there are not many options left.

October 2, 2013

Slovenian Government to Approve Adjusted Budget

The Slovenian government today plans on implementing the revised budget for next year and the draft for the 2015 budget.

September 30, 2013

Austria: Public Debt Increased to 74.0 Percent of GDP

Public finances 2012: public deficit at 2.5 percent, public debt at 74.0 percent of GDP.

September 30, 2013

Poland: Pension Scheme Reform to be Eased

At the beginning of September, Poland´s government decided to re-nationalize the pension system. Now, the government considers relativizing the reform.

September 28, 2013

Czech Republic: Working Poor Class Grows

In total, about one million Czechs fall into the category of employed poor. Their number is growing substantially.

September 28, 2013

Croatia Plans on Increasing VAT by Three Percent

Croatia eyes increased intermediate VAT from 10 to 13%.

September 27, 2013

Austria: Kapsch Demands Reform Agenda From New Government

Georg Kapsch, President of the Federation of Austrian Industries (IV) demands the next federal government to introduce a comprehensive reform agenda.

September 27, 2013

Poland: 71 Percent Dissatisfied with Domestic State of Affairs

According to a new poll by TNS Polska, the majority of Polish citizens are displeased about the country’s situation reports Polish news agency PAP.

September 23, 2013

Austria: 80 Percent Opposed to 12-Hour-Working Day

A survey of a Socialist trade union shows that 80 percent of employees are opposed of a working day of twelve hours.

September 19, 2013

Poland Trying to Eliminate Povery

The country plans on spending € 2bn in the combat against poverty.

September 19, 2013

WKO: Austrian Enterprises Miss out on Potential in Turkey

According to a commercial councelor at the Austrian Chamber of Commerce (WKO) in Istanbul, Austria is focused too much on Eastern Europe. Switzerland exports triple the amount to Turkey.

September 19, 2013

Romania Is Recovering According to PM

Romanian Prime Minister Victor Ponta presented the key issues on the new agreement with the EU Commission, the International Monetary Fund (IMF) and the World Bank to the parliament on Tuesday.

September 19, 2013

Wifo: Economy Remains Competitive Despite High Wages

Head of Wifo (Austrian Institute for Economic Research), Karl Aiginger, calls for a change of views in economic policy as competitiveness is more than just low costs.

September 18, 2013

Hungary: Orban Forecasts Growth of 2 Percent

Hungarian Prime Minister Viktor Orban forecasts economic growth of 2 percent next year as the country has managed to surpass several difficulties.

September 18, 2013

Austria: ÖVP Rejects Tax Reforms by Social Democrats

Chancellor and Leader of the Social Democrats Werner Faymann is in favor of lower taxes on wages. His model includes reliefs of up to € 1,011 annually. However, coalition partner, the Austrian People’s Party (ÖVP) rejects the plans.

September 18, 2013

Poland: Rallies Against Government

Around 20,000 persons took part in a rally against the government organized by the country’s three largest trade unions: Solidarity, the All-Poland Alliance of Trade Unions (OPZZ) and the Trade Unions Forum.

September 12, 2013

Schieder: IMF Confirms SPÖ-Claims

State Secretary for Finances, Andreas Schieder regards the demands by the International Monetary Fund (IMF) as a confirmation of those by the Social Democrats (SPÖ).

September 11, 2013

Austria: Spindelegger Confident About Becoming New Chancellor

The intense elections campaign for the Austrian People’s Party (ÖVP) has officially started on Tuesday. Deputy Chancellor and party leader Spindelegger promised more jobs and housing space.

September 11, 2013

Romania: West Region to Catch Up Economically

Romania's West Region aims to catch up with its more developed peers in the European Union.

September 9, 2013

Serbia: Plans to Reform Pension System

Serbia plans reform of pension system by year end.

September 9, 2013

President of Ukraine Presses for Faster Progess

President Yanukovych urges the parliament to adopt laws for a faster progress to the country’s European integration

September 5, 2013

President Fischer Urges Austria to “Roll Up Sleeves“

In regard to the current election campaigns, the Austrian President Heinz Fischer has urged the parties for joint efforts.

September 4, 2013

Cyprus: Waiting for the Next Bailout Tranche

Crisis-struck member of the Eurozone Cyprus will have to wait for the next payment out of the bailout-package. Before the next tranche will be transferred the small country has to implement key measures.

September 2, 2013

Kapsch: Enormous Problems at Austrian Business Location

President of Federation of Austrian Industries (IV) Georg Kapsch confirms the criticism voiced by President of the Austrian Chamber of Commerce (WKO) Christoph Leitl and several other politicians by the Austrian People’s Party (ÖVP).

August 28, 2013

Leitl: “Austria Screwed Up”

If the US, as the perpetrator of the financial and economic crisis, shows two percent in economic growth, while Austria only 0.2 percent, then this was a “disgrace”, Leitl announced during the economic forum in Alpbach.

August 21, 2013

Ukraine Remains in a Recession for a Year

In the second quarter of 2013 GDP contracted by 1.1 percent on a year-on-year comparison basis.

August 20, 2013

Czech Republic: New Elections Expected At the End of October

Prime Minister Petr Necas’ resignation leads to new elections soon. The Social Democrats, who want to introduce the Euro, are potential winners.

August 16, 2013

Can We Eliminate Extreme Poverty By 2030?

Over the last 200 years the world as a whole has seen a marked decline in the incidence of absolute poverty.

August 14, 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

Austria: Spindelegger Wants Reform Government

The next government has to be a “reform government”, according to Austrian Vice Chancellor Michael Spindelegger, since the one in office now has only shown little reform zeal.

August 9, 2013

Romania Initiates Structural Reforms

In order to receive a precautionary loan from the IMF, Romania´s government will implement a series of reform steps. Above all, Romania starts privatizations again. Romania´s economic outlook continues to brighten.

August 3, 2013

Austria: Leitl Demands Impulses for Growth and Employment

Enterprises need to be motivated instead of being burded by further taxes, President of the Austrian Chamber of Commerce (WKO) Christoph Leitl argues.

August 1, 2013

Romania: Drop of VAT on Bread and Baked Goods

Around 70 percent of Romanian bread and baked goods are sold on the black market. A drop in VAT is supposed to change that.

July 31, 2013

Eurozone: Household Real Income Increased 0.5 percent

Household saving rate up to 13.1% in the euro area and to 11.0% in the EU27 Household real income per capita increased by 0.5% in the euro area

July 31, 2013

Protests: Bulgaria in a Political and Social Crisis

Thousands of protesters are still marching the streets of Sofia. It is particularly the educated middle class that has had enough of the raging corruption of the political elite.

July 30, 2013

Bulgarian Deputy PM: “They Want Social Justice“

In an interview with Austrian newspaper Standard, Bulgarian Justice Minister and Deputy Prime Minister Zinaida Zlatanova (40) talks about the reasons for the protest movement, planned reforms and critizism from abroad.

July 27, 2013

Slovenia: Economy to Shrink Despite of Austerity Measures

Slovenian economy expected to contract 2.2 percent in 2013. Prior forecast: -1.9 percent.

July 26, 2013

Hungary Abandons Radical Resolution On Foreign Exchange Loans

Foreign currency denominated mortgages for home purchases shall be phased out.

July 25, 2013

Bulgarian Protests As Sign of New Understanding of Values

The great wave of protests in Bulgaria continues to sweep the country. Experts regard the demonstrations as a sign of a new understanding of values.

July 25, 2013
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