Voters in the Czech Republic are heading to the polls this Friday and Saturday to choose their next president. The winner will become head of state in a country battling record inflation and bulging public finance deficits because of the war in Ukraine. Eight contenders are in the running, but three challengers appear to be in serious contention for victory. Among the favourites is former Prime Minister Andrej Babiš, 68, a billionaire populist who was recently acquitted in a fraud trial. He has been plagued by his communist past as an alleged secret police agent and has also had to defend questions about his business dealings. Retired army chief Petr Pavel, and former University head Danuše Nerudová are also in the running. Pavel is campaigning on a bid to “restore order” in the EU member and offer “experienced and calm leadership”. His military career included leading the NATO Military Committee from 2015-2018. Nerudová is a career academic who rose to become the rector of Mendel University in her hometown of Brno, and has vowed to “leave the ego behind” and “communicate with all groups of people”. They’ll be hoping to galvanise the centrist voters who ousted Babiš at the last general election in 2021....
Rising energy prices, construction costs and rents, the crisis of restaurants, pressure for ESG compliance and changes in the Prague high street: these are the main trends that will affect the Czech real estate market in 2023. Substantial changes will occur both in the field of industrial and office real estate, as well as in the residential housing. According to Colliers, a leader in the provision of diversified professional services in the field of commercial real estate and investment management, the real estate market in the Czech Republic will be influenced by following 10 main trends this year: 1. Construction and financing costs will remain high It is unlikely that construction materials prices will decrease dramatically in the short term, and we assume that newly developed projects will have more difficulty proceeding without a business plan or profit revision, partially depending on the sector. A similar situation exists with the cost of financing. This can limit construction activity, especially among smaller developers where financing banks are more cautious and request greater levels of security. 2. Pressure for inflation caps and the savings struggle As Czech and Eurozone inflation spiked during 2022, many tenants reviewed their contracts and opted to add...
In 2021, the Czech Republic recorded 153,000 crimes, half the number recorded in 2011, according to data from the Czech Statistical Office (CSO).The number of people imprisoned is also decreasing, despite being among the highest in the EU as a share of the population. Czechia is set to mark the history of samizdat in the country with a special day. The government has approved an amendment tabled by a group of coalition MPs under which October 12 would become the Day of Samizdat, celebrating the production of illicit printed materials such as books and magazines under the pre-1989 Communist regime. Retail sales in the Czech Republic have fallen year-on-year for seven consecutive months. The decline slowed to 8.7 percent in November last year from 9.9 percent in October. However, sales increased only in stores selling cosmetics and toiletries. This is according to revised data from the Czech Statistical Office (CSO). In the month-on-month comparison, sales decreased by 0.3 percent Last year, Škoda Auto delivered 731,300 vehicles to customers worldwide, a 16.7 percent decrease from the previous year. cThis is due to persistent semiconductor shortages, the war in Ukraine, supply chain difficulties, rising energy and raw material prices,...
The preparations for the most beautiful endurance race are in full swing. The Prague International Marathon, which has been awarded with the prestigious World Athletic Elite Label Road Race quality label, will once again offer both the charms of the Czech capital and an unforgettable experience. The RunCzech organizing team has already prepared one gift for the competitors – all registered runners will be able to train with the Olympian Eva Vrabcova Nývltová for the 42-kilometer long course every week! “If you want to run the Prague International Marathon on May 7, which is one of the most amazing races, you need to start with the training. And that’s next week at the latest. If you train according to the plans we have been preparing, I truly believe that you will not only survive the marathon but also enjoy it,” a participant in the Olympic marathon in Rio 2016 Eva Vrabcová Nývltová says. The training opens on 17th January at 6 pm with an introductory workshop held by Martin Vrabec, the husband and coach of the famous athlete. The training itself starts at 6:30 pm. The training sessions will alternate morning and afternoon week after week. Those interested can complete...
The ninth edition of the popular Nordic film festival Scandi is already in full swing! Get an insight into Scandinavian culture through award-winning films from Denmark, Sweden, Finland, Norway and Iceland. The festival introduces the diversity and richness of contemporary Scandinavian cinema. Audiences can look forward to a varied program of films again this year, attracting preview screenings and interesting genre titles. In Prague, Scandi will take place at Edison Filmhub, where most films will screen in their original language with Czech and English subtitles, and Cinema City Slovanský dům, where most features will contain only Czech subtitles. This year’s Scandi festival will be attended by Norwegian filmmaker Erik Poppe, best known for his 2010 romance 1,000 Times Good Night, starring Juliette Binoche and Nikolaj Coster-Waldau, and his stark 2018 drama Utøya: July 22, about the 2011 mass murder on Norway’s Utøya island. The themes of Scandinavian films are extremely topical, reaching audiences on all continents. Scandi presents a cross-section of films and genres that define the cinematic North – from film noir through horrors to dark comedies and provocative documentaries – all in the presence of filmmakers, experts on the given topics, and other guests. The vision of the festival is to attract the audience...
December inflation brought a downward surprise and is good news for the central bank. However, the main issue at the moment is the January re-pricing and the impact of government measures on the CPI. The January number should bring inflation back to higher levels, but lower than the central bank expects Mixed picture but overall lower than expected The overall level of consumer prices remained the same in December as in November (0.0% month-on-month). On an annual basis, consumer prices rose by 15.8% in December, 0.4pp lower than in November. The average inflation rate for the full year 2022 was 15.1%. Price developments varied across the different sections of the consumer basket. The fall in fuel prices was offset by price increases, particularly in housing, energy and food. However, growth in these items was lower than we expected. Re-pricing is the main risk for January December brought a significant signal that inflation is coming under control. However, the true test of where inflation really is will not come until January. For the next figure, we see two main issues: energy prices and new year repricing. From January, the government’s measure will switch from a saving tariff to an energy price...
Former Prime Minister Andrej Babis leads a field of eight candidates hoping to succeed Milos Zeman in the largely ceremonial but prestigious post of the Czech president. Babis recently acquitted in a fraud trial, boosting his chances of winning in the first round of the presidential election in voting on Friday and Saturday. If no candidate achieves a majority, the top two finishers will face each other in a runoff in two weeks’ time. The second and final five-year term of controversy-courting Zeman expires on March 8. Zeman divided the nation with his pro-Russia stance — until the Russian invasion of Ukraine on Feb 24 — and support for closer ties with China. Zeman was the first president elected by popular vote. The previous two presidents, Vaclav Havel and Vaclav Klaus, were elected by lawmakers. WHAT’S AT STAKE Under the Czech constitution, the president has the power to pick the prime minister, and to appoint members of the Central Bank board. The president also selects Constitutional Court judges with the approval of Parliament’s upper house. Otherwise, the president has little executive power and the country is run by the government chosen and led by the prime minister, currently the conservative...
The mayors of Warsaw, Prague, Budapest and Bratislava are visiting Kyiv, Polish television channel Polsat News said. The trip to Kyiv has been kept completely secret until now for security reasons, but the statement just issued reveals that the planned program will see the V4 mayors meet not only the mayor of Kyiv, but also senior Ukrainian officials, the mayor of Bucha and senior EU diplomats. “The purpose of the visit is to review how the V4 capitals can provide infrastructural and humanitarian assistance to the city of Kyiv, which is suffering from Russian aggression,” the office of the Budapest mayor said in a statement. According to a recent post by Karácsony, Budapest’s mayor, they travelled by train to the war-torn Ukrainian capital. The journey lasted 17 hours, he added. Here is a photo of them. “Before the war, 3.8m people lived in Kiev, while the current population stands at 3.6m (including 200,000 migrants from other regions of Ukraine). However, it is only possible to keep the city alive and functioning if critical infrastructure works. That’s why Kyiv wants to draw inspiration from the cities of the Visegrad Four, for example in transforming buildings into less energy-intensive ones. And we...
The Czech prime minister, Petr Fiala, says his government is considering changing the country’s VAT system. Novinky.cz reported that instead of the current 10 and 15 percent VAT rates there should be one rate – of 13 or 14 percent – from next year. The inflation rate slowed down to 15.8 percent year-on-year in December, down from 16.2 in November. The average inflation rate for the whole of last year was 15.1 percent, which is the second highest rate in the modern history of the Czech Republic. The Czech company Excalibur Army delivered to Ukraine 20 T-72EA modernized Soviet-made T-72M and T-72M1 main battle tanks on the 90 which were ordered within the framework of a contract with the United States and European countries including the Netherlands and the Czech Republic. Last year, Škoda Auto delivered 731,300 vehicles to customers worldwide, a 16.7 percent decrease from the previous year. cThis is due to persistent semiconductor shortages, the war in Ukraine, supply chain difficulties, rising energy and raw material prices, and continued uncertainty in global markets. One in six children will not be able to eat lunch in the school cafeteria this year for financial reasons, according to...
An iconic part of the city’s landscape, it has been a star in international movies, the location for many photoshoots, and it is an absolute must-see sight for tourists. However, the Charles Bridge is a relatively modern addition to Prague compared to the city’s history. Considering that the Prague Castle was built in the 9th century, Charles Bridges’ 1357 birth year means that Prague was without it for almost as long as it has existed. So, what came before the Charles Bridge? Before the Charles Bridge, there was the Judith Bridge. Named after King Vladislav II’s wife, Queen Judith, the Judith Bridge was built in the 12th century and was the first stone bridge to cross the Vltava. Before the Judith Bridge was built, a wooden footbridge would have allowed people to cross the river. A stone bridge for this point in history was an impressive feat, and it is suspected to be one of the first in Central Europe. The beautiful Romanesque bridge had twenty arches and stood at a shorter height than the current Charles Bridge. From existing evidence such as remaining archways, archaeologists and historians can conclude many facts, such as the style in which the bridge was...
Thanks to the audience vote, Marie Poledňáková’s What a Wonderful World with You was awarded this status. Now you can see for yourself whether the title is justified. This endearing winter retro flick is about to be screened on the silver screen with English subtitles on the 18th of January as a part of the “Some like it Czech” series. Imagine a Czech who was born in 1900 and who has czexperience the entire 20th century. He entered his life as a peasant of Emperor Franz Joseph I of Austria, spent his youth as a citizen of the democratic Czechoslovak Republic, and then spent the next six years in fear for himself and his loved ones under the Nazi regime. The year 1945 found him in the full vigor of his life and filled him with hopes for a full life … only to be disappointed 3 years later. And if he was lucky, at old age he lived to see the fall of totalitarianism and the restoration of freedom and democracy. But there were always plenty of ways to entertain yourself in those days and not think about the real world out there. Interesting books, revolutionary radio, the...
A well-chilled Pilsner beer is slowly becoming a luxury. You can pay around CZK 60 for a pint in Prague restaurants these days. However, it can be expected that this year the price may climb to CZK 70. There is no need to despair yet though because we have found six establishments where you can pay around CZK 50 for a pint of your favourite drink from Pilsen! Stará Ořechovka The residential district of Ořechovka with its millionaire villas hides a literal piece of pub history. Here you can enjoy traditional drownings or pickled ermine in addition to good beer. You pay CZK 54 for a Pilsner here! Hostinec Drinopol For the next place, you must go to Břevnov. You will find the Hostinec Drinopol right by the tram stop of the same name, which can come in handy when you leave, especially if you go a little overboard with your favourite drink. As well as the CZK 51 Pilsner, you will be pleased to know that the cooking is great and the portions are huge. Restaurant Ladronka The Ladronka restaurant is located in Košíře (Prague 5) directly below the park that it is named after. In this place, you...
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