Politics & Economics

Survey: Nearly 60% of Czechs Would Run Out of Money Within Three Months

A large share of households in the Czech Republic would struggle to manage financially if their income suddenly stopped, according to a new survey by the polling agency Ipsos for ČPP Servis. Research conducted in February found that nearly six in ten Czechs would have to sharply reduce spending within three months of losing their income. For many, the situation would become difficult far sooner. About half of respondents said they would face serious financial strain within the first month without earnings. The findings underline how limited emergency reserves remain for much of the population. Only a quarter of people reported having savings sufficient to cover more than six months of expenses. At the other end of the scale, 12 percent said they have no financial reserves at all. The study also sheds light on how people store their money. Those who do manage to save tend to keep funds in accounts that are easy to access rather than in long-term investments. Nearly 40 percent said they hold most of their savings in savings accounts. Another 14 percent rely mainly on standard checking accounts, which traditionally offer minimal interest and often fail to keep pace with inflation. Investment products remain...

by Prague Morning Mar 10, 2026

Eurostat: Czech Republic Ranks 2nd Worst in EU for Pay Inequality

The wage gap between men and women in the Czech Republic remains one of the largest in the European Union, according to newly published data from the European statistical office Eurostat. The figures show that women in the Czech Republic earn on average 18.5 percent less than men, placing the country second worst in the EU for gender pay inequality. Only Estonia records a wider difference, where women earn 18.8 percent less than men. Across the European Union, the average pay gap stands at 11.1 percent, meaning the Czech figure is significantly higher than the bloc’s overall level. Some European countries report far smaller differences. In Belgium, the gap is just 0.7 percent, one of the lowest in the EU. Meanwhile, Poland records a difference of 4 percent, while the gap reaches 15.6 percent in Germany and 15.7 percent in Slovakia. The situation is unique in Luxembourg, where women earn slightly more than men. The country reports a negative pay gap of –0.8 percent, making it the only EU state where male salaries are on average lower. Private sector shows wider differences Pay inequality is generally higher in the private sector across the EU. Most countries use transparent salary tables...

by Prague Morning Mar 08, 2026

Czech Republic Plans First Official Partnership With Texas

The Czech Republic is preparing to sign its first formal cooperation agreement with an American state, choosing Texas as its partner. The memorandum will be signed next week during a visit to the United States by Industry and Trade Minister Karel Havlíček. The agreement will establish a structured partnership between the Czech Republic and Texas, the second-largest and second-most populous state in the United States. It will also mark the first time Prague has concluded this type of memorandum with an individual U.S. state. The signing is expected to take place in Austin, the Texas capital, during the South by Southwest (SXSW) festival, where Havlíček will meet Texas Governor Greg Abbott. The minister’s trip to the United States is scheduled for March 9–15 and will also include meetings in Washington. According to the Czech Foreign Ministry, the partnership reflects long-standing historical and cultural links between the two regions. Texas is home to the largest community of Americans who claim Czech ancestry. Czech migrants began settling there in the 19th century, leaving a lasting mark on local culture and traditions. These historical ties have been reinforced by military cooperation. Since 1993, the Czech Army has worked with the Texas National Guard...

by Prague Morning Mar 07, 2026

Czech Inflation Eases To 1.4%, Lowest Since October 2016

The Czech Republic’s consumer price inflation moderated unexpectedly in February to the lowest level in more than nine years, preliminary data from the Czech Statistical Office showed on Wednesday. Consumer prices climbed 1.4 percent year-over-year in February, slower than the 1.6 percent increase in January. Economists were looking for a stable increase of 1.6 percent. Further, this was the weakest inflation rate since October 2016, when prices rose only 0.8 percent. The annual price growth in food, alcohol, and tobacco softened to 0.4 percent from 1.3 percent, while the decline in energy prices eased slightly to 7.8 percent from 7.9 percent. Data showed that inflation based on services slowed to 4.5 percent from 4.7 percent. On a monthly basis, consumer prices edged down 0.1 percent, while prices were expected to rise by 0.1 percent. The final data for the month of February will be published on March 10. Would you like us to write about your business? Find out more

by Prague Morning Mar 05, 2026

Middle East Conflict Drives Gas Higher, Is Czechia at Risk?

European gas prices surged this week after liquefied natural gas production in Qatar was halted and shipping routes in the Strait of Hormuz were disrupted. While several EU countries face potential supply pressure, Czechia is not directly exposed to the current outage. At the Dutch TTF hub, the benchmark for European gas trading, prices climbed sharply. On Tuesday morning, gas rose by 26 percent to more than €56 per megawatt-hour. By midday, April contracts exceeded €64 per MWh, marking a rise of roughly 45 percent since the start of the week. The escalation follows attacks on energy infrastructure in the Middle East. On Monday, the Qatari state energy company QatarEnergy suspended LNG production after drones struck its Ras Laffan industrial complex and a power facility. Iran also targeted oil installations in Saudi Arabia, forcing parts of a refinery operated by Saudi Aramco to halt operations. Shipping traffic through the Strait of Hormuz — a key corridor for global energy exports from Qatar and the United Arab Emirates — has been blocked since the weekend. The disruption immediately affected commodity markets. On Monday alone, European gas prices jumped by as much as 50 percent. Qatar supplies roughly 10 percent of Europe’s...

by Prague Morning Mar 03, 2026

One Hour a Day, CZK 57,000 a Year: The Real Cost of Commuting

Commuting in Czechia is often treated as routine. But when measured in economic terms, the daily trip to and from work represents a substantial annual loss for employees. If a worker spends one hour a day commuting, the value of that time — calculated using the national median wage — reaches roughly CZK 57,000 per year. The figure is based on data from the Czech Statistical Office and a model originally applied in the United States. An analysis published by Investopedia, drawing on calculations by MyPerfectResume and data from the U.S. Census Bureau and the Bureau of Labor Statistics, estimated that the average American worker effectively “loses” about $8,150 annually due to commuting time. That equals more than CZK 165,000 at current exchange rates. The method is straightforward: multiply the total hours spent commuting each year by the average hourly wage. In the United States, workers spend around 223 hours annually traveling to and from work. Applying the same framework to Czech conditions produces similar results in terms of time. According to the Czech Statistical Office, around 70 percent of Czech employees commute, and about 60 percent of them rely on a car for at least part of the journey....

by Prague Morning Feb 19, 2026

Under 15 Offline? Czech Government Debates Social Media Ban

Several countries are tightening rules on children’s access to social media. Australia barred users under 16 late last year. France recently approved a law targeting children under 15. Similar steps are under discussion in Denmark, Slovenia, Greece, Turkey and Britain. The European Parliament has also urged stricter limits. UNICEF has warned that bans alone may not solve the problem and could create new risks if not combined with education and parental guidance. The Czech government may now follow this trend. Prime Minister Andrej Babiš said Sunday he supports restricting social media access for children under 15. He cited expert warnings about mental health risks and online harm. According to him, protecting minors must take priority. Industry and Trade Minister Karel Havlíček confirmed that discussions are underway. Experts, regulators and platform operators are involved. The government wants to avoid delays and could present a proposal later this year. Havlíček argues that excessive social media use is increasingly affecting children’s daily lives, including mental health and school performance. Not everyone is convinced. Alexandr Vondra, an MEP from the Civic Democrats, said the idea deserves debate but raised privacy concerns. Any restriction, he noted, must respect fundamental rights while remaining technically workable. Hours...

by Prague Morning Feb 08, 2026

Epstein Scandal Heads to Czechia ‒ Girl Writes About Naked Talk in the Pool

Newly published documents from the U.S. Department of Justice in the Jeffrey Epstein case contain references to the Czech Republic, raising questions for Prague politicians and authorities. Former Czech Foreign Minister and current MP Jan Lipavský (ODS) has publicly asked Prime Minister Andrej Babiš (ANO) whether Czech authorities are investigating potential connections and protecting possible victims. The DOJ’s massive document release, totaling more than three million pages, 180,000 photos, and 2,000 videos, details Epstein’s life and criminal activities. It includes emails, messages, calendar entries, statements, and other evidence collected during investigations into the convicted sex offender. According to Seznam Zprávy, iDNES.cz, and Novinky.cz, some materials indicate Epstein had direct contacts with Czech women and girls, and even stayed in Prague multiple times. Lipavský specifically asked Babiš whether the government is aware of Epstein’s visits, whether Czech victims might exist, and whether local security services will open an official investigation. He also questioned if the government plans to cooperate with international partners to ensure proper protection for potential victims. Epstein in Prague: Hotels, Photos, and Property Talks According to the documents, Epstein’s visits to Prague included stays at the Marriott Hotel and trips to notable sites such as the Old Jewish...

by Prague Morning Feb 07, 2026

Czech Bank Challenges Revolut With New Multi-Currency Service

A Czech financial institution is stepping deeper into the foreign-exchange market, introducing a multi-currency account designed to compete with fintech platforms such as Revolut. Partners Banka now allows clients to hold and manage several currencies within a single account without extra fees. The bank says the goal is to simplify everyday international payments while keeping exchange costs predictable. Unlike some digital competitors, the service is integrated into a standard current account. Clients can activate or remove currencies as needed. Transactions show the exchange rate before confirmation, and conversions are processed immediately. The account currently supports 15 currencies, including the euro, U.S. dollar, and British pound. For card payments abroad, the bank applies the European Central Bank reference rate without markup for 31 currencies. That includes major currencies as well as regional ones such as the Polish zloty. How the Exchange Model Differs From Revolut The Czech bank relies on a fixed ECB reference rate updated daily and applied continuously. Revolut, by contrast, uses a live interbank rate that changes constantly. While Revolut usually offers that rate without markup during weekdays, extra charges may apply over weekends. Limits also differ. Partners Banka says it does not cap foreign-currency card payments at...

by Prague Morning Feb 07, 2026

Czechoslovak Group Owner Michal Strnad Becomes Richest Czech After IPO

Owner and CEO of the regional weaponry conglomerate Czechoslovak Group (CSG) Michal Strnad has become the richest Czech following CSG’s IPO on the Euronext bourse in Amsterdam last week. The January 23 IPO became the “world’s largest defence IPO ever recorded both in terms of amount raised and market capitalisation,” according to Euronext. CSG’s IPO was among the largest since the beginning of 2025 in terms of money raised of €3.8bn, surpassing IPOs of tech companies such as CoreWeave, Klarna or eToro, and behind just Chinese battery producer CATL and US health group Medline. The CSG stocks gained rapidly on January 23 before steading to around €33 per stock on the third trading day this week, which is a 32% growth on the €25 per stock IPO value. With the current market valuation of approximately €32bn CSG has also moved ahead of the majority-state-owned energy utility ČEZ to top the Czech list of the most valuable companies. Bloomberg estimated Strnad’s fortune to amount to $37bn, making him also the world’s third richest man below 40 years of age behind Mark Mateschitz, one of Red Bull’s inheritors and Lukas Walton, grandson of Walmart’s founder Sam Walton. The estimate also makes Strnad,...

by Prague Morning Jan 29, 2026

Czech Politician Condemns Ukrainian Flag Display on Charles Bridge

A Ukrainian flag displayed on the Charles Bridge over the weekend has drawn sharp criticism from Czech politician Tomio Okamura, who called the event a “provocation against the Czech people”. The Ukrainian Embassy in Prague organized the display to mark Ukraine’s Unity Day. A multi-meter flag was unfurled on the historic bridge, with over a hundred attendees singing both Ukrainian and Czech national anthems, observing a moment of silence for war casualties, and carrying the massive banner across the structure. Participants also chanted slogans in support of a free Ukraine and against Russia’s war. Ukrainian Ambassador Vasyl Zvarych addressed the crowd, thanking Czechs for their support. He highlighted recent fundraising efforts, which raised millions of crowns for generators to help communities affected by attacks on Ukraine’s energy infrastructure. Okamura, leader of the Socialist Party (SPD) and Speaker of the Chamber of Deputies, posted on social media that such public displays on historic Czech landmarks are unnecessary provocations. He argued that the event challenges Czech citizens who are critical of the influx of Ukrainian migrants and emphasized that respect for local symbols must be unconditional. He also mentioned speaking with Foreign Minister Petr Macinka about potentially preventing similar gatherings on historic...

by Prague Morning Jan 26, 2026

Czech Republic Invited to Join Trump’s Board of Peace

The Czech Republic has received an invitation to join a newly created Peace Council launched by former US president Donald Trump. Czech authorities say no decision has been made and that any response will depend on a detailed review of the council’s structure and obligations. President Petr Pavel said Prague should not comment on possible membership until it fully understands the council’s mandate, powers, and rules. Speaking during a visit to the Olomouc region, Pavel stressed that the proposal raises several open questions that must be answered first. According to the president, long-term participation in the Peace Council would require a financial contribution of one billion US dollars, roughly 21 billion crowns. He also noted that Trump has appointed himself as head of the body, with veto authority over its decisions. “It will be necessary to assess what purpose such a council would serve, under what conditions it would operate, what powers it would have, and how decisions would be made,” Pavel said. Only after that, he added, would it make sense to take a public position. A government spokesperson said the cabinet will wait for an official assessment prepared by the Ministry of Foreign Affairs before taking any further...

by Prague Morning Jan 23, 2026

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