Around 1,300 Ukrainian refugees arrive in the Czech Republic each week, seeking safety from the ongoing conflict. While many have found employment, experts highlight a troubling trend: 61% are working in jobs below their skill level. Human Rights Commissioner Klára Laurenčíková revealed that over 382,000 Ukrainians fled to the Czech Republic since the war started. An impressive 120,000 are already contributing to the economy, but concerns arise due to the underemployment issue. Laurenčíková stresses the need for improved language education and faster recognition of foreign qualifications to bridge the skill gap. While most refugees have secured rental housing, a vulnerable group still lives in emergency shelters. Magdaléna Faltová from the Association for Integration and Migration emphasizes the importance of integrating refugees into the social support system to prevent hardship. A program launching mid-year will offer financial assistance for deposits and furnishing apartments, helping refugees transition from shelters to permanent housing. However, challenges persist in finding stable housing, impacting employment, education, and overall well-being. Ajhmal Khybari, head of the Czech UNHCR office, acknowledges the government’s efforts and emphasizes the need for continued support during global crises. The Czech Republic plans to introduce a national refugee plan this year, joining 11 other...
A Czech skier who indulged in excessive alcohol on the slopes of Valtellina (Italy) faces a hefty fine and a revoked ski pass. The incident, which occurred on February 17th, was recently reported by the Sondrio police headquarters. Local personnel dedicated to mountain safety and rescue were called to assist a skier who repeatedly fell on the notorious “autostrada” slope (“highway”). Upon reaching the individual, officers found him slumped and visibly intoxicated, exhibiting glazed eyes, a strong smell of alcohol, and difficulty communicating. He was then escorted to the station for an alcohol test, which confirmed a blood alcohol level (BAC) significantly exceeding the legal limit of 2.02 g/l. The officers fined the Czech man, who was in Livigno on holiday, for violation of the law regulating the activity and practice of sports on ski slopes: in this case, it provides for an administrative fine of up to 1,000 euros.
Prague is now the fourth richest region in the European Union by GDP per capita, ahead of cities like Brussels, Paris, and Berlin. “Prague holds the number four spot in the EU regional ranking for 2022, based on GDP per capita,” confirmed Petr Dufek, chief economist at Bank Creditas. While two Irish regions and Luxembourg currently hold the top positions, Dufek highlighted the stark contrast between Prague’s prosperity and the rest of the Czech Republic, with the capital boasting more than double the national GDP per capita. “Prague’s success stems in part from hosting the headquarters of many major companies,” explained Dufek. However, a concerning disparity is emerging within the country. “Over the past nine years, GDP per capita has grown significantly faster in Prague than in other regions, widening the gap,” he noted. For further perspective, Dufek compared Prague to its neighbor, Berlin. “In terms of purchasing power parity, Berlin’s GDP per capita is only 60% of Prague’s, while Germany as a whole remains 30% wealthier than the Czech Republic.” Bratislava “In 2013, Bratislava surpassed Prague,” Dufek revealed. “But the latest data paints a different picture, with Bratislava now trailing at 71% of Prague’s level. Its GDP per capita...
On Thursday last week (February 8th), the Czech National Bank lowered the inter banking rates by 0.5%, to what is now the lowest rates since June 2022. It was about time… In December, they lowered it 0.25% and now, with the lowering of 0.5% to the current rate of 6.25%, I think it sets a clear trend of lowering rates that I believe will continue until the end of the year. What does it mean in real life? Long story short, cheaper loans and less interest on savings accounts. With lowering the rates, the Czech National Bank wants to stimulate the flow of money into the economy, rather than encouraging people to let money sit in a bank account or avoid borrowing due to high interest rates. Lowering rates should mean the opposite to stimulate the economy Did the interest rates already drop? No, not yet but we can expect it very soon to happen. Right now (as of 13.2.2024) you can still find savings accounts which provide more than 6% on savings but I suspect it will not last for very long. Similarly, mortgage banks haven’t reacted to this recent lowering yet. It typically takes a few days or...
When dealing with a Czech real estate agency, you’ll likely come across the term ‘exclusive contract‘ (exkluzivní smlouva). It‘s important to understand the implications of these kinds of contracts and what you need to take into consideration before entering into one. In this guide, we’ll delve into the details of these contracts and give you insights into how to set them up correctly. Let’s get started. What is an exclusive contract? Essentially, an exclusive contract means that you, the seller, must cooperate only with the real estate agency with which you have entered into the exclusive contract, and for the entire period of the contract. Disadvantages of an exclusive contract Limited cooperation For the seller, this type of contract is a ‘bet on one card‘. If the real estate agency turns out to be incompetent, you cannot simply terminate your cooperation with them, because you are tied in until the end of the contract. This can be especially annoying if you are in a hurry to sell your property. Penalties and sanctions Any exclusive contract with a real estate agency will include various restrictions, sanctions, and penalties. These are intended to force the seller to maintain their cooperation with the...
The Czech Republic has experienced an unprecedented surge in temperatures, recording its warmest start to February in over a century. According to the Czech Hydrometeorological Institute (ČHMÚ), select stations saw an average temperature of 6.7°C in the first decade of February, a stark contrast to the nation’s coldest February on record in 1929, when temperatures plummeted to -15.4°C. However, meteorologists urge caution when interpreting this average. It only includes stations with at least 100 years of data, typically located at lower altitudes. Newer stations, particularly those at higher elevations or in mountains, are excluded due to shorter data gaps or inconsistencies. Despite this caveat, the past week has seen numerous daily temperature records shattered. Notably, a quarter of the 165 stations operational for at least 30 years saw new highs for February 9th, followed by a third setting records on Saturday, February 10th. Remarkably, three locations even climbed above 15°C. Sunday night brought another wave of warmth, with the vast majority of stations recording their warmest February night ever. Temperatures mainly ranged between 6 and 11°C, even in traditionally frosty areas, ensuring no frost settled anywhere in the country. The above-average daytime temperatures are set to continue this week, reaching...
The price difference for cigarettes between the Czech Republic and Poland has reached a historic record following the recent increase in consumption tax. For more expensive brands, it’s already approaching fifty crowns per pack, Novinky.cz reports. For instance, a pack of Marlboro cigarettes in Poland costs 102 crowns in conversion from złoty, while in the Czech Republic, it’s 145 crowns. Sellers in Polish border towns claim that 90% of customers are currently Czech. As of February 1st, the increase in consumption tax for cigarettes, smoking tobacco, and cigars is ten percent. “We can say that 90 percent of the customers who buy cigarettes here are from the Czech Republic. And the number is growing,” smiles Agnieszka, a worker at a small shop in the Polish village of Chalupki, less than ten minutes by car from nearby Bohumín. The rise in retail prices will be reflected in the coming weeks as retailers sell off old stock. Over the next three years, tariffs on these products will increase by five percent annually. The new consumption tax on electronic cigarettes will be introduced on April 1st, 2024, with a rate of 2.50 per milliliter in 2024 and rising to 10 crowns per milliliter...
Are you a lover of fun, good food, music, and dancing? If so, you must join the Masopust carnival this year! There are several options to pick from in Prague. You can follow tradition and wear a mask, or simply join in to experience the magical atmosphere. Prague is preparing for one of the most anticipated and colourful events of the year – Masopust 2024. This ancient holiday combines a masked parade with delicious food. Masopust serves as a celebration of the new economic and agricultural year. If you’d like to see it for yourself, here are some events you can attend in the Czech capital. Malá Strana Masopust Date: February 10th, 2024 Time: from 1 pm Where: starts in Loretánská Street, pub U Černého Vola The carnival parade will pass through the picturesque neighborhoods of Malá Strana and Hradčany, with refreshment stops along the way. The festivities will reach their peak at around 4 pm. Visitors can enjoy authentic Masopust specialties and traditional mulled wine. Masopust in Horní Počernice Date: February 10th, 2024 Time: from 2 pm till 5 pm Where: Horní Počernice Theatre, Chvaly Chateau Fun lovers cannot miss the parade with music, dance, and refreshments. Visitors can...
The economist Jiří Pour from UniCredit Bank, has highlighted a concerning trend in the Czech Republic’s gas imports, with Russian gas now representing the majority of deliveries, Novinky.cz writes. Despite efforts to reduce reliance on Russian imports throughout last year, the statistics have shifted dramatically since November. Data from NET4GAS indicates a sharp increase in Russian gas imports, particularly through the Lanžhot station from Slovakia, the only entry point for Russian gas into the Czech Republic. This surge is confirmed by the Czech Statistical Office’s foreign trade statistics for December, revealing a substantial rise in the share of Russian gas in total imports, reaching 58 percent. Supplies of Russian gas grew to 5.19 billion crowns in December – more than supplies from Norway – from 1.9 billion crowns in November, 700 million in October and much smaller amounts in previous months, CSU data showed. Mr. Pour points out that while there is speculation about stored gas in Ukrainian reservoirs being imported into the Czech Republic, transit or resale of Russian gas to other countries is unlikely to distort the statistics significantly. The vast majority of imported gas remains in the Czech Republic, with only a small percentage being exported. Moreover,...
European Affairs Minister Martin Dvořák (STAN) won’t appoint a commissioner for euro adoption, Prime Minister Petr Fiala of the Civic Democrats said on Tuesday evening after a special meeting of coalition government leaders. Fiala stated that legislative issues related to the Czech Republic’s potential entry into the mechanism or the eurozone would be evaluated by the Legislative Council of the Government by October. The previous day Mr. Dvořák had announced that he was naming economist Petr Zahradník in that position. Other coalition parties criticized the minister for this move, as the government hadn’t agreed on filling the position of the national coordinator for euro introduction since 2017. Government leaders the Civic Democrats are the only grouping in the five-party coalition opposed to the adoption of the single European currency at present. “We have specific tasks, deadlines, and responsibilities. I was surprised that after 20 years, there are still no analyses of the euro adoption’s impact on the legal or constitutional order. Thanks to today’s government meeting results, this gap will be addressed,” Dvořák stated to ČTK. He also mentioned on the social network X that Zahradník is an excellent expert, regardless of whether his role is called a commissioner or...
Czechia is making significant strides in the fight against cancer, leveraging the EU’s recovery funding to enhance its oncology infrastructure. In January, representatives of the Czech government, regional authorities and the healthcare community inaugurated the construction of the two new buildings at the Masaryk Memorial Cancer Institute (MMCI) in Brno. In the autumn of 2023, the construction of a new oncology centre was also launched in Prague’s Motol University Hospital (MUH). Both projects are supported by the EU’s Recovery and Resilience Facility, an instrument created at the EU level to help the member states with the COVID-19 pandemic and its impacts on national economies. “I see only positives in the new buildings. It will allow us to relocate and expand our existing cancer prevention, genetics, and patient education facilities and create new space for supportive care and clinical research,” said Marek Svoboda, Director of the MMCI. Within the National Recovery Plan framework, which unlocks the country’s access to the Facility, around €340 million has been allocated for oncology, including the construction of new centres in Prague and Brno. New centres in MMCI in Brno will focus on effective cancer prevention. Construction works are planned until December 2025; the following year,...
Czech Minister for European Affairs, Martin Dvořák (STAN), has appointed economist Petr Zahradník as the national commissioner for joining the European Exchange Rate Mechanism (ERM II) and adopting the euro. Renewing the position of the national coordinator for the euro has been under discussion within various government parties, spurred by President Petr Pavel’s New Year’s speech regarding the potential adoption of the common European currency. While the ruling parties – STAN, KDU-ČSL, TOP 09, and Pirates – are supportive, the Civic Democrats hold a negative stance. Zahradník, a specialized economist and analyst focusing on the European Union, has been appointed to encourage a public debate on the benefits and risks of adopting the euro, according to Dvořák’s press release. The new commissioner’s primary responsibilities include engaging in expert discussions on meeting the Maastricht criteria, monitoring and analyzing economic aspects of eurozone entry, and providing expert support to Dvořák. The minister’s press office states that the position is established for an indefinite period without additional financial costs, as Petr Zahradník already serves as an adviser to the minister. Dvořák expressed optimism, stating, “I believe that thanks to the new commissioner, we will be able to address main objections from the professional...
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