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Forbes: “Austere Baltic States Outgrow Their European Neighbors”
Forbes magazine has dedicated a comprehensive article about how the Baltic countries manage to conquer the financial crisis.
April 17, 2013
Slovenia to Emerge From Quagmire By Itself?
A recent report by the OECD paints a dim picture of the country’s economic future.
April 17, 2013
Austria: Number of Small-Business Owners Increased Marginally
In 2012, there were around 251,000 one-person-businesses in Austria which is 11,000 more than in 2011.
April 16, 2013
Austria: Hypo Group to Come Under Fire
Pressure from Brussel grows for a fast selling of Hypo Group.
April 16, 2013
Bulgaria: New Coca-Cola Headquarters in Sofia
The world’s largest soft drink producer Coca-Cola is to relocate one of its competence centers from Belgium to Bulgaria.
April 15, 2013
Slovenia to Sell Two State Enterprises
On a press conference on Friday, Prime Minister Bratusek announced the selling of two state-owned companies, one of them being a bank.
April 13, 2013
Cyprus: Bail-Out Package More Expensive Than Thought
The aid-money needed increases from € 17.5bn to € 23bn, according to Cyprian government.
April 11, 2013
Fekter: „Austria is a High-Tax Country“
Bank secrecy will be an official issue at the meeting of EU finance ministers in Dublin on Saturday. Fekter criticizes the UK sharply.
April 11, 2013
Austria About to Lose Fiscal Secret
The Austrian government declared to negotiate with the EU about the abanonment of the fiscal secret.
April 9, 2013
Commission Criticizes Austria on Keeping Bank Secret
EU Tax Commissioner Algirdas Semeta considers Austria’s position to hold on to the bank secret and unwilligness to reform as “impossible”.
April 9, 2013
Fekter: “I Will Fight to Preserve Banking Secrecy in Austria!”
“Data protection is a valuable institution. We will continue to protect innocent citizens, but will also continue to lead the way in pursuing tax evaders.”
April 8, 2013
Russia: Economic Growth Below Expectations
The Russian economy is flatlining. The government and the Central Bank of Russia (CBR) blame each other for the current state of affairs.
April 8, 2013
Keuschnigg Forecasts End of Bank Secret in Austria
Head of the Austrian Institute for Advanced Studies (IHS), Christian Keuschnigg expects the end of the bank secret in Austria.
April 3, 2013
Cyprus: Prone to Recession
Despite of the bail-out package, the country is threatened by a deep recession in the coming two years.
April 3, 2013
Austria: How to Benefit from Positive Labor Market Situation
Increasing number of employees should be reason to initiate economic stimuli and focus on investment incentives, states Leitl.
April 2, 2013
Macedonia: Fresh € 100m for Business Sector from EIB
The Macedonian government plans to provide fresh EUR 100 million loan, with 5.5% interest rate, as support to the business sector.
April 2, 2013
2012: Significant Increase in Austrian Construction Industry
According to the latest data issued by Statistik Austria, the construction industry has increased its output significantly in 2012.
April 2, 2013
Bulgaria: Budget Deficit Amounting to BGN 732.0m
The budget balance under the Consolidated Fiscal Programme (CFP) as of end-February 2013 is negative, amounting to BGN 732.0 million.
April 2, 2013
Cyprus: Anastasiades Comes Under Suspicion
President Nikos Anastasiades is in dire straits as he is accused of having transferred huge amounts of money to foreign countries and having warned relatives. In the meantime, the austerity package is almost set.
April 2, 2013
CESEE: CR More Attractive for FDI Than SK
Foreign investors regard the Czech Republic more attractive than Slovakia.
March 27, 2013
Hungary: Tax Overhaul Finalized
Minister for National Economy: taxation system completed - time for fine-tuning.
March 27, 2013
Austria: Tax Burden Lessens With Higher Income
According to an OECD study only three industrialized nations (Austria, Germany and Spain) show a degressive tax system.
March 26, 2013
Cyprus: Bail-Out Package Accepted
Cyprus has been granted the € 10bn worth aid package by the EU. After ten hours of negotiations in Brussels the decision was made early this morning. Assets below € 100,000 will not be taxed.
March 25, 2013
Hungary: In a Debt Crisis Soon?
New all-time high in debts was reported. Hungarian populations hopes for fast political turn-around.
March 22, 2013
Romanian Labor Costs Increased Dramatically
The EU average increase in labor costs in the 4th quarter in 2012 increased by 1.3 % throughout the EU. Front runner turns out to be Romania.
March 15, 2013
Austrian Banks to Stay in Hungary
In the coming years, foreign banks will face a difficult market environment in Hungary. Nevertheless, Austrian banks want to maintain their position.
March 14, 2013
Orban Wants to Strengthen Hungarian Banks
According to Hungary´s Prime Minister Viktor Orban, the high share of foreign banks is “unhealthy”.
March 13, 2013
Bulgaria: Latest Protests Against Privatizing of Railway
Protesters in three cities gathered to demonstrate against the privatization of the freight division of the Bulgarian state railroads (BDZ).
March 12, 2013
Leitl: "Restructuring Instead of Cashing in"
Christoph Leitl, head of WKO (Austrian Chamber of Commerce), dismisses further plans for a tax hike. The outcome would be fatal and the economy exposed to threats.
March 6, 2013
Hungary: Highest Loss in Real Wages in Five Years
Gross salaries increased 4.6 % while net income only saw moderate rise at 2 % in 2012.
March 6, 2013
Bulgaria: Budget Balance Negative
The budget balance under the Consolidated Fiscal Programme (CFP) as of end-January 2013 is negative, amounting to BGN 536.5 million.
March 4, 2013
Austria: Public Spending Ratio Forces Country to Reforms
Austria’s economy is stronger than the European average, however, it is still in need of reforms. Suggestions are made by head of WIFO Aiginger who demands a new strategy until 2025.
March 2, 2013
Hungary: Matolcsy Becomes New Central Bank Governor
Prime Minister Orbán nominated the former National Economy Minister as the new governor of the MNB (National Bank of Hungary). Experts are concerned about the stability of the Forinth.
March 1, 2013
Bulgaria: Economy to Stabilize
Despite the enormous political instability, Bulgaria is expected to record positive growth rates this year.
February 28, 2013
Fekter Pleased with New Banking Regulations
Austrian Minister of Finance: "Agreement stabilizes banking sector, protects taxpayers and strengthens Austrian SMEs".
February 28, 2013
Austria: Economic Outlook Remains Cautious
Although Austria´s economy suffers from a number of major defects, the performance is still better than in the Eurozone.
February 25, 2013
Austria: Felderer Warns of Property Taxes
The economist believes that already the discussion about property taxes is damaging the Austrian business location.
February 23, 2013
Hungary: Government Demonstrates Optimism
Peter Szijjarto, spokesman of Prime Minister Viktor Orban´s party Fidesz, believes that Hungary´s economy will perform well this year.
February 23, 2013
IMF Visits Croatia Again
A Mission of the International Monetary Fund, led by Nikolay Gueorguiev, arrived in Croatia for its usual semi-annual visit.
February 21, 2013
Austria: Controversy About Property Taxes
According to Christian Keuschnigg, director of IHS, property taxes would have a negative impact on economic growth and the employment situation.
February 20, 2013
Romania Almost Stagnates
Last year, Romania´s economy could prevent a recession. The GDP growth came at 0.2%.
February 18, 2013
Financial Transactions Tax: Austria Expects Tax Intake of € 500m
The Austria government is optimistic to reach the fiscal goal. The Federation of Austrian Industries (IV) warns of detrimental effects for the real economy.
February 16, 2013
“Financial transactions tax promotes fairness”
According to Austria´s Minister of Foreign Affairs Michael Spindelegger, the financial transactions tax is strengthening the competitiveness in Europe through targeted reforms.
February 15, 2013
“Tax on financial transaction is a big achievement for Austria”
“Our perseverance has paid a dividend” Austria´s Minister of Finance Maria Fekter said.
February 14, 2013
Slovakia: Tax Intake to Decrease
Despite the higher income tax rates, the Slovak state revenues are expected to fall by € 360m this year.
February 12, 2013
„Hungary Needs Sustainable Reforms“
The IMF underline that the country must restore the confidence of international investors. At the moment, Hungary´s government is not forced to continue the talks with IMF.
February 5, 2013
Moody´s Downgrades Croatia
The U.S. rating agency justifies the downgrade with the “bad economic outlook” and the “inflexible fiscal policy”.
February 2, 2013
Orban: „Agreement with IMF Unlikely“
According to Hungary´s Prime Minister Viktor Orban, the IMF tries to put pressure on Hungary.
February 1, 2013
Slovakia: Government Warns of Economic Slowdown
This year, Slovakia´s government expects lower growth rates than in 2012. Besides that, the austerity pressure is growing.
February 1, 2013
Austria: Tax Convention Signed with Liechtenstein
Austria´s Finance Minister Maria Fekter: “A good day for Austria – through fair taxation”.
January 29, 2013
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