• croatiantimes.com
• romaniantimes.at
• salzburgtimes.at
• viennatimes.at
• austrianindependent.com

Today

• Vienna - Johnny\'s Pub Quiz
• Vienna - Unknown Underground
• Vienna - Cats
• Vienna - Andy Warhol
• Vienna - Laser Tag

05. 03. 10. - 15:00

• more Business news
• RSS Feed Business

05. 03. 10. - 15:00

CEE recovery will take until 2012, warns think tank

It will take until 2012 for all the countries in Central and Eastern Europe (CEE) to recover from the global economic crisis, according to an Austrian think tank.

The Vienna Institute for Comparative Analysis (WIIW) said today (Fri) some CEE countries will experience economic growth this year. But the body warned it will be another two years before the entire region is back on track.

WIIW said Poland – the only European Union (EU) member state with a positive gross domestic product (GDP) last year – will lead the way among the new EU member states. The think tank expects the Polish economy to grow by 2.5 per cent in 2010.

WIIW also said there was light at the end of the tunnel for struggling Ukraine as the country’s economy would expand by around three per cent this year.

It said growth in Slovenia, Albania, Slovakia and the Czech Republic would be around one per cent this year, and Romania, Bulgaria, Serbia and Hungary would see zero growth.

WIIW’s research also suggests the economies of Croatia, Montenegro and Bosnia and Herzegovina will shrink further this year.

WIIW was more optimistic for 2012. It said the economies of the CEE region would see two per cent more growth than those of western European countries.

The predictions come the day after the Austrian Institute for Economic Research (Wifo) revealed that the country’s companies have drastically reduced investment in the CEE region.

The institution said the companies spent only 0.7 billion Euros on investment activities in the region in the first nine months of 2009.

It said Austrian companies invested 7.6 billion Euros in CEE in the same time span for the previous year.

Wifo said this was a throwback to 1998 figures.

Austrian Times

Related articles: EU

1. Austrian economy recovers, says OECD

   » Business 2012-05-23

   The Austrian economy will manage to grow by nearly one per cent this year, according to the Organisation for Economic Co-operation and Development (OECD).

2. AUA rules out Whitsun travel chaos

   » Business 2012-05-23

   The current conflict with the works committee does not negatively affect Austrian Airlines’ (AUA) booking figures, according to a spokesman.

3. Weak start for RWR Card

   » Business 2012-05-23

   People’s Party (ÖVP) Economy Minister Reinhold Mitterlehner has admitted difficulties in introducing the Red White Red Card (RWR Card, Rot-Weiß-Rot Card).

more related articles tagged "EU"

Related articles: crisis

1. Austrian economy recovers, says OECD

   » Business 2012-05-23

   The Austrian economy will manage to grow by nearly one per cent this year, according to the Organisation for Economic Co-operation and Development (OECD).

2. AUA rules out Whitsun travel chaos

   » Business 2012-05-23

   The current conflict with the works committee does not negatively affect Austrian Airlines’ (AUA) booking figures, according to a spokesman.

3. Pröll outpaces friends and foes in capability check

   » General News 2012-05-23

   Austria’s longest-serving governor has been identified as the most capable one in the opinion of citizens.

more related articles tagged "crisis"

Related articles: CEE news

1. AUA rules out Whitsun travel chaos

   » Business 2012-05-23

   The current conflict with the works committee does not negatively affect Austrian Airlines’ (AUA) booking figures, according to a spokesman.

2. Weak start for RWR Card

   » Business 2012-05-23

   People’s Party (ÖVP) Economy Minister Reinhold Mitterlehner has admitted difficulties in introducing the Red White Red Card (RWR Card, Rot-Weiß-Rot Card).

3. Austrians concerned about EU unemployment

   » Business 2012-05-18

   Joblessness is what worries Austrians the most, a poll regarding European issues shows.

more related articles tagged "CEE news"

AUA rules out Whitsun travel chaos
The current conflict with the works committee does not negatively affect Austrian Airlines’ (AUA) booking figures, according to a spokesman.

Weak start for RWR Card
People’s Party (ÖVP) Economy Minister Reinhold Mitterlehner has admitted difficulties in introducing the Red White Red Card (RWR Card, Rot-Weiß-Rot Card).

Pröll outpaces friends and foes in capability check
Austria’s longest-serving governor has been identified as the most capable one in the opinion of citizens.

Foul-mouthed MPs might face fines
Fritz Neugebauer has started another attempt to introduce a system of fees for abusive parliament delegates (MPs).

Car sharers should get cheap U-Bahn tickets say greens
People who support the environment by signing up for car sharing initiatives to cut down inner city congestion should get subsidised public transport.

Film festivals in Vienna
There are two film festivals back to back in Vienna this May and June. The "Let's CEE Film Festival" shows films from Central and Eastern Europe, while the "Vienna Independent Shorts" focuses on short films.

Salzburg builds new prison
Salzburg is to get a new prison.

Postwoman killed by express train
An 32-year-old postwoman was killed instantly when she apparently failed to see a stop sign on a train track - and was hit by a 120 kph express train at the Grimmenstein sortage depot in the Lower Austrian region of Neunkirchen.

Dirty water caused by excrement
Health experts are struggling to find the source of excrement that has contaminated water supplies at the town of Köstendorf in Salzburg province.

Man Utd chase Austrian ace
Manchester United have signalised interest in David Alaba.

Jobs in Austria