Czech central bank Governor Ales Michl said on Monday the state budget deficit needed to shrink and nominal wages should not rise too quickly next year, as the bank seeks to rein in inflation pressures. “For rate stability, we need two additional things that will cut the circulation of money in the economy, meaning inflation,” Michl wrote in a weekly column for the Mlada Fronta Dnes newspaper. He said results, not just words, were needed on the budget and nominal wages should not grow “more than, for example, 5%”. “Simply don’t rev the wage-inflation spiral,” he said. The central bank has held interest rates steady since June, after sharply raising them last year. Inflation hit 18.0% September, its highest level in three decades, but eased to 15.1% last month. Czech National Bank employees last week agreed to cancel previous contracts calling for wage rises corresponding to inflation. Czech real wages fell almost 10% in the second quarter, according to the latest data, and some central bankers see diminishing risks of a wage-inflation spiral. The central bank has forecast nominal wages to rise 6.3% in 2022 and 7.7% in 2023, but to fall 9.4% and 1.2%, respectively in real terms.
COVID-19 could soon be removed from the list of diseases requiring compulsory isolation, Czech Health Minister Vlastimil Valek (TOP 09) told journalists on Saturday, speculating that this might happen in the first half of 2023. The autumn food collection, which took place in some 1,400 shops across the Czech Republic on Saturday, gathered 520 tonnes of food, drugstore and hygiene products, 89 tonnes more than at the similar event in the spring, according to Veronika Lachova, director of the Czech Federation of Food Banks. The average interest rate on newly granted mortgages in Czechia was 5.86 percent in October, up slightly from the 5.83 percent seen the previous month. These rates are the highest recorded in 20 years. Opposition leaders ANO would have come first in elections held at the turn of this month with 26.5 percent of the vote, suggests a poll by the Kantar CZ agency for Czech Television. This represents a fall of 3 percent on the last such survey a month earlier. Czech real wages fell almost 10% in the second quarter, according to the latest data, and some central bankers see diminishing risks of a wage-inflation spiral. The central bank has...
By sticking masks on its forty vehicles, the Prague transport company is spreading awareness about men’s health again this year drawing attention to a dangerous disease and targeting prevention methods. At the beginning of this month, the Prague transport company’s cars with mustaches took to the streets of the capital. For the fifth time in a row, the carrier is one of thirteen carriers in eleven Czech cities that have joined the global awareness campaign for men’s health. “Twenty trams type 15T and twenty SOR buses have grown mustaches in Prague. Not only public transport fans have something to take pictures of,” said Aneta Rehkova, spokesperson for the company. However, according to many, this year the awareness of this preventive action in the capital is a little less “loud” than it was in the past. This is despite the fact that there are more windowed cars in Prague every year. It started with fifteen buses and the same number of trams. “We are trying to raise awareness, just like in previous years,” said Řehková, adding that there is information posted in the cars with a link to the transport company’s website, where everything is listed. “Our drivers are heavily dominated...
Prague’s gastro establishments beat not only all other big cities in our country but also Warsaw and Bratislava in the prices of the best-selling coffee. “Across the Czech, Slovak and Polish markets, we researched the demand for the most popular types of coffee and compared prices. We also looked at how much prices change over time in the Czech Republic and abroad,” comments Petr Menclík, director of Dotykačka, the company that conducted the research. “Compared to Warsaw and Bratislava, Prague has become the least expensive year-on-year, yet coffee prices here remain the highest. Before the covid, the difference in prices in neighboring markets was even more marked,” explains the director “It doesn’t matter whether the business is in the middle of a big city or in a village. All establishments drink a comparable amount of this coffee. Similarly, prices are similar almost everywhere. In the third quarter, they were most often in the range of CZK 39 to 41 in Czech gastro establishments,” summarizes Menclík. However, this does not mean that coffee is not more expensive anywhere. “This range is an average. In about a tenth of Czech establishments, espresso prices exceed CZK 58. Last year, the highest prices for...
Wherever Norwegian electronic music duo Röyksopp goes, curiosity often follows. Since releasing their debut breakout album Melody A.M. in 2001 (which received critical acclaim for its unique amalgam of downtempo, ambient and synth-pop sounds), the duo consisting of Svein Berge and Torbjørn Brundtland has continued to evolve and iterate throughout the four studio albums that followed Röyksopp recently announced the 2023 True Electric tour starting in Sweden on 16th February including dates at London’s O2 Brixton Academy on 19th February and Tempodrom in Berlin on 23rd February. The True Electric tour will be the legendary duo’s first tour since 2017. “With «True Electric» we want to bring the pure and immersive Röyksopp experience of our studio productions to the live stage. This means synths, samplers & sequencers, in a performance where the hero of the show is the music itself. Expect an eclectic set where energetic beats meet vast, transcending soundscapes. True electric – what it says on the tin.” (Röyksopp) This year Röyksopp premiered their audacious live show to festivals in Norway, flamboyant costumes included, reminding everyone why they’re one of the world’s must-see live artists. 2022 has seen these music pioneers innovate once again with their extraordinary Profound Mysteries project, working with...
The Czech minister of the interior, Vít Rakušan, says this winter could see a large new wave of refugees from Ukraine in view of the state of the infrastructure in the country. “If the numbers approached those seen in the first wave following Russia’s invasion it would be difficult for Czechia to deal with the arrivals,” he added. Czechs have the best relationship with Slovakia, followed by Switzerland and Austria, while the war in Ukraine has significantly worsened Czech public attitudes towards Russia, which is now the least positively viewed by Czechs, according to a poll conducted by the STEM agency. Czech-grown Christmas trees are set to go up in price by around 10 percent this year, the Association of Christmas Tree Growers told the Czech News Agency. The reasons are increased costs of energy, transport and fertilisers. The energy company E.ON will also increase the price of electricity and gas supplies from the new year. As with other suppliers, most customers will pay a capped price for energy. Customers with normal consumption will pay about CZK 300 a month extra. The Czech minister of health, Vlastimil Válek, says those who test positive for Covid-19 may...
Over 1,400 shops, including stores owned by major chains, take part in the event in which people can donate non-perishable foodstuffs that will then be redistributed to those in need. “There has been a marked increase in the organisation’s clients this year due to a sharp rise in food and energy costs. Any food will help us,” said Helena Balabánová, Chairwoman of the Food Bank in Ostrava. The situation is reported to be worst in Prague and the northern regions, where an increasing number of people are asking for help in securing basic food supplies. The groceries and drug-store goods will be delivered to single mothers, seniors, asylum-seekers, and others in need. The annual wave of solidarity is also highlighted by volunteers who will help put the collection into life. In most shops goods are being collected by volunteers between 8 am and 6 pm. People can also donate products bought online. Citizens can donate food from the retail chains Albert, Billa, Globus, Kaufland, Lidl, Makro Cash & Carry, Tesco, and Rossmann. Rohlik.cz and Tesco Online stores will also join the National Food Collection. The National Food Collection is organized by BpS – the Business for Society in cooperation with...
Ukraine’s state-owned military enterprise Ukroboronprom and the Intergovernmental Agency for Defense Cooperation (AMOS) under the Czech Ministry of Defense signed an agreement to establish a joint defense industrial cluster. The initiative would involve joint Ukrainian-Czech production of military vehicles, ammunition of various calibers, development of maintenance hubs, as well as technological cooperation through joint research centers. The plan would pool manufacturing capacities of Ukrainian and Czech defense companies, coupled with broader international financial support. “The Czech Republic will become a reliable industrial support for the Ukrainian defense and the defense industry,” said Tomáš Kopečný, Deputy Minister of Defense of the Czech Republic. As previously reported, Oleksii Reznikov, Minister of Defense of Ukraine, announced that the defense industry of Ukraine has established the production of 122-mm and 152-mm artillery shells. New artillery shells for Soviet-era systems have already been tested. Reznikov also emphasized that Ukraine currently does not plan to produce 155-mm ammunition for modern artillery systems. On November 5, Ukrainian President Volodymyr Zelenskyy thanked the Netherlands, the United States, and the Czech Republic for providing Kyiv with 90 T-72 main battle tanks.
Czech national rail operator ČD is reviving a sleeper route between some of central Europe’s most fascinating cultural hotspots. Europe’s train revival is one of the most exciting shake-ups to travel on the continent in decades. From new mega-cheap high-speed routes to an increasingly huge night train network, Europe is showing that trains are an affordable, convenient and environmentally-friendly alternative to air travel. And now another rail company is getting in on the act. The Czech Republic’s national rail operator Czech Railways (České dráhy or ČD) has announced a new sleeper service that will go from Prague to the Swiss city of Zurich via Dresden, Leipzig, Frankfurt am Main and Basel. The new service will be called the ‘Canopus’ train and it’ll be a collaborative project with the national rail providers of Austria (ÖBB), Switzerland (SBB) and Germany (DB). It’s a revival of an old service that closed down back in 2017. The trains themselves will consist of several seating classes, with couchette tickets starting at €69 and fares for sleeping car compartments starting from €89. The service will leave Prague at 6.25 pm and arrive in Zurich at 9:05 am, while the return will depart Zurich at 7:59 pm and arrive back in Prague at 9.25 am. And that’s not...
Mexico, Indonesia, and Taiwan are the best places to live abroad in, according to findings in the Expat Insider survey. Global expat community InterNations conducts one of the biggest annual surveys on life abroad, Expat Insider. In 2022, close to 12,000 expats representing 177 nationalities took part. Covering key areas such as working abroad, the ease of settling in, quality of life, personal finances, and expat essentials, the findings are a must-read for anyone interested in living abroad. The Czech Republic ranked 20th, losing five places during the year. Expats praised the country for its high-quality working conditions, good career prospects and ample opportunities for a fulfilling family life. Respondents particularly praised the relatively low cost of raising a child, as well as the quality and accessibility of education. However, in the category “Ease of Integration”, the republic scored poorly – 42nd place out of a possible 52. The Winners Mexico was rated the best country for expats in 2022. Expats particularly appreciate their Personal Finances (2nd) and the Ease of Settling In (1st). “Mexicans are very friendly people and eager to help when you have a problem,” states an expat from Armenia. In fact, three-quarters of respondents (75%) agree that it easy to...
The Czech government has proposed the abolition of more than 10,000 laws, regulations and orders that are redundant and no longer used, Prime Minister Petr Fiala (ODS) told journalists after a cabinet meeting today. President Milos Zeman has asked Interior Minister Vit Rakusan (STAN) to remove or reduce the security checks at Prague Castle, the seat of the Czech President. The request was made in an open letter from Zeman to Rakusan, published on the Presidential Office website yesterday. The year-on-year inflation rate in Czechia decreased to 15.1 percent in October from 18 percent the month before, according to data published by the Czech Statistical Office on Thursday. This was well below the market forecast, which had predicted that the inflation rate in October would be 17.9 percent. On Thursday morning, the energy company ČEZ announced record profits for the first three quarters of this year. From the beginning of next year, electricity will become more expensive. Most customers will pay the government’s capped prices from January, with clients paying around CZK 300 a month extra for the most common tariffs. Tourism reached pre-pandemic numbers in Czechia in the third quarter of 2023, at least according to mass accommodation facility booking figures released by the Czech...
The Czech Republic will not adopt the euro in the current parliamentary term, Prime Minister Petr Fiala said. He added, however, that the government wants to allow companies to keep their accounts in euros. The prime minister made the remarks in response to a question about Saturday’s statement by House Speaker Marketa Pekarova Adamová, who said at a program conference that she saw 2030 as a realistic year for adopting the euro “What will happen in 2030, we will see. I don’t look at this question, speaking for myself, ideologically. For me, it is really a question of what is beneficial for the Czech Republic and Czech citizens. Now the situation is such that during this term of office, and therefore during the term of the government I have the honour to head, the adoption of the euro will not be a topical issue,” the Prime Minister and ODS chairman said. He said that the government was taking steps to fulfill the Maastricht criteria, i.e. the conditions for adopting the euro. “But at the same time we have not agreed on adopting the euro because we do not consider it realistic at the moment and the Czech Republic will not...
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