Politics & Economics

The Czech Economy is the 13th Fastest Growing in the EU

Czech GDP growth was 2.9 percent last year, which means that Czechia is the 13th fastest growing economy in the European Union. In this regard, the Czech economy surpasses the original EU Member States, including Germany, and the EU average as a whole. The Irish, Maltese, and Polish economies grew the fastest last year, while the economies of Italy, Denmark, Great Britain, and Germany slowed down. Surprisingly, the Czech economy grew even though it is strongly linked to the underperforming countries. “New member countries are growing faster, except for Ireland and Malta. Old member states have been weaker,” said Marek Rojíček, head of the Czech Statistical Office. However, the growth of the Czech economy slowed down in 2018 compared to 2017, from 4.5 percent to 2.9 percent of GDP. Consumption and investment activity were the main drivers of the economy last year. On the other side, it was weakened by the decline in foreign demand and also by the labor shortage. Based on the development of economic growth, the Czech economy is probably already behind its peak, according to Rojíček. From an economic point of view, the Czech Republic reached 89 percent of the EU level in 2017, so the...

by Prague Morning Apr 17, 2019

Czech Police Say PM Babiš Should Stand Trial in Fraud Case

Czech police said on Wednesday that Prime Minister Andrej Babis and others should stand trial for alleged fraud involving the handling of a 2 million euro European Union subsidy – charges that could see him jailed for up to 10 years. The probe against Babiš focuses another spotlight on the EU’s eastern wing, a region that’s been rocked by scandal. Babis rejected the allegations on Wednesday, denouncing them as “an organized plot” designed to ruin his political career. The case involves a farm that received EU subsidies after its ownership was transferred from the Babis-owned Agrofert conglomerate of some 250 companies to Babis’ family members. The subsidies were meant for medium and small businesses and Agrofert would not have been eligible for them. Later, Agrofert again took ownership of the farm. Babiš denies any wrongdoing. Author: red xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonfutebol ao vivofutemaxmulticanaisonbetbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi...

by Prague Morning Apr 17, 2019

Czech Ombudswoman Calls on Firms to Make Male, Female Salaries Public

Employers with a higher number of employees should be obliged to make public the information on the pay-gap between their male and female employees, Czech ombudswoman Anna Šabatová has said, adding that if they did not comply, they could be banned from public tenders. Women in the Czech Republic receive on average 22 percent less pay than men. Šabatová explains why: “One reason is that women never find out about certain [lucrative] jobs. Not only is it customary not to talk about money: in many companies it’s forbidden. Whereas in the past equal pay for equal work was what protests were all about, today that’s impossible because of the confidentiality clause. Companies oblige workers not to tell anyone how much they earn. Everyone is expected to negotiate their salary for themselves. As statistics show, that systematically puts women at a disadvantage. But women also need decent wages. Flowers they can buy for themselves.” Women in the Czech Republic earn on average 80,000 crowns less per year than men do and the gap is wider in the Czech private sector than in the public sector. In the EU, on average women are paid 16 percent less than men, according to Eurostat....

by Prague Morning Apr 14, 2019

Czech Finance Ministry Proposes Gambling Tax Hikes

The Czech Republic’s Ministry of Finance has announced plans to increase gambling taxes in the country, with bingo, live games, and lotteries set to be the hardest hit. Aside from gaming machines, which are taxed at 35% of gross gaming revenue (GGR), all gambling taxes in the country are currently at 23% of GGR. However, such rates would jump to 30% of GGR for lotteries, live games, and bingo operators, if the Ministry’s plans are approved. Other forms of gambling, such as fixed-odds betting, face a more modest increase from 23% to 25% of GGR, while the 35% rate for gaming machines would remain unchanged. The proposals, which would come into force in January 2020 if rubber-stamped later this year, also include tax hikes for the tobacco and alcohol sectors, with the Ministry insisting that the sole aim is to “increase the public budget”. The Ministry’s submission for the tax changes stated: “The proposed amendment to the gambling tax law divides the rate of gambling tax into three levels, according to the harmfulness of individual gambling in the same way as the government’s draft Gambling Tax Act of 2015.” However, the plans have drawn criticism from a number of politicians...

by Prague Morning Apr 09, 2019

Czech Government to Increase Taxes on Tobacco, Alcohol

The Czech Finance Ministry plans to raise the excise tax on tobacco and cigarettes by 10 percent in 2020, aiming to raise up to an additional 7.7 billion crowns in state budget revenue, it said in a proposal on the government’s website on Friday. The tax rise is expected to increase budget revenue more in 2021, by up to 9.2 billion crowns, the proposal said, as effects of pre-stocking of lower-taxed products wane. The ministry also proposed higher taxes on spirits and gambling, which should boost budget revenue by 1.3 billion crowns in 2020, it said. The proposal must win the parliament’s backing to take effect. The government has been seeking to boost revenue to fund hikes in pensions and public sector wages as economic growth cools down. Author: red xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonfutebol ao vivofutemaxmulticanaisonbetbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi bong da the gioitin bong da lutrận đấu...

by Prague Morning Apr 05, 2019

Nearly 10 Percent Czechs Threatened by Income Poverty: Statistics

Around 9.6 percent of Czechs were threatened by income poverty last year, said the Czech Statistics Office on Thursday. The figure was up 0.6 percent over the previous year. The income poverty line is set at 11,963 CZK per individual per month, or 25,122 per family with two children, said the office, releasing the result of the survey on income and living conditions of households. The Czech Republic continues to rank among the EU countries with the lowest share of people under the poverty line, said the Czech Statistics Office. The average monthly wage in the Czech Republic currently stands at 33,840 CZK. The survey shows that most households get their income quite easily or with little difficulty. But this is a big problem for 17.6 percent of households. In particular, single parents with children and women over the age of 65 who live alone have difficulty getting along with income. Also, the survey finds that almost one-tenth of Czech households pay more than 40 percent of their net income for housing, including energy. About two-thirds of them live in rented flats and the largest group among them are lonely pensioners. Author: red xosotin chelseathông tin chuyển nhượngcâu lạc bộ...

by Prague Morning Mar 23, 2019

Czech Budweiser Brewer Worries About Brexit Impact

The Budejovicky Budvar brewery in České Budějovice managed to survive a decades-long trademark battle over whether it could call its beer Budweiser. But now it faces another potential threat: Brexit. The United Kingdom is one of the brewer’s top five markets, though it won’t say exactly how much beer it sends there. Like many other businesses, it’s concerned about what will happen if Britain leaves the European Union without an agreement governing trade. That exit is due to happen on March 29, though with political wrangling still very much underway, a delay looks likely. That’s meant worrying uncertainty for businesses like Budvar that rely on being able to send their goods to Britain without inspection delays at borders. “It’s about two weeks to Brexit and nobody knows anything,” said Budvar director Petr Dvorak. “We’re now waiting for what happens because it’s going to be uncertain till the last moment.” Budvar’s business has been growing — it increased exports by 8.5 percent to reach 1.075 million hectoliters (28.4 million gallons) last year. The brewer reached its production capacity in recent years and has been expanding to be able to produce more. Still, a loss of UK business would be a blow,...

by Prague Morning Mar 20, 2019

Czech Republic Has EU’s Highest Rate of Job Vacancies

The Czech Republic has the highest job vacancy rate in the European Union, according to new data published by Eurostat on March 18. At six per cent, the vacancy rate in the Czech Republic is almost twice that of Belgium and Germany (3.4 per cent). Hungary is the only other emerging European country which has a higher vacancy rate than the EU average of 2.3 per cent. The lowest rates in the EU are found in Greece (0.4 per cent), Bulgaria, Ireland, Spain and Portugal (all 0.9 per cent). Elsewhere in emerging Europe, Latvia’s vacancy rate is the same as the EU average, at 2.3 per cent, closely followed by Slovenia with a rate of 2.2 per cent. Estonia’s vacancy rate is 1.8 per cent, Croatia’s 1.4 per cent, Lithuania’s and Slovakia’s 1.3 per cent and Romania’s 1.2 per cent. Poland has a vacancy rate of 1.1 per cent. Jakub Siedler, chief economist for the Dutch bank ING in the Czech Republic, said last month that the lack of a suitable workforce has become an increasingly more important barrier to further economic growth in the country. Eurostat defines a job vacancy as a paid post (newly created, unoccupied or about to become vacant)...

by Prague Morning Mar 19, 2019

Price of Apartments in the Czech Republic Continues to Rise

Czech apartment prices accelerated in 2H18, most likely due to the frontloading effect motivated by new macroprudential central bank rules. In our view, apartment prices should slow down this year. Czech apartment prices grew by 11.4% year on year in last quarter of 2018, after growing by 9.4% in the third quarter and 8.5% in the first half of 2018. In Prague, the prices of apartments rose by 8.7% year on year, but the prices of new apartments accelerated almost 18% year on year. Driven by frontloading activity on the credit market The sharp rise in apartment prices is most likely related to strong activity in the Czech property market and at the beginning of 4Q18, due to the frontloading effect on the back of stricter macroprudential recommendations of the Czech central bank. The volume of new housing loans accelerated by 30% in September and 50% in October 2018, as many were concerned mortgages might become unavailable to them after the new central bank measures. Prices to slowdown this year Given the frontloading effect pushing prices up in 2018, the slightly weaker economic activity expected this year, and mainly new stricter central bank measures limiting access to mortgages, property price growth will significantly slow down this...

by Prague Morning Mar 18, 2019

Tibetan PM in Exile Welcomed in Prague

The mayor of Prague has welcomed the prime minister of the Tibetan government-in-exile and presented him with the symbolic key to the Czech capital. Zdenek Hrib told Lobsang Sangay at a ceremony at Prague’s Old City Hall Wednesday he wants show solidarity with the Tibetan people, saying they were “were deprived of freedom in the most brutal way” 60 years ago. Prague officials also decided this week to fly again the Tibetan flag on the Tibetan national uprising day. China says Tibet has been part of its territory for centuries. Many Tibetans, however, insist they were essentially independent for most of that time and have accused China of heavy-handed rule since the country’s army battled its way into the Himalayan region in 1950. No Czech government members plan to meet with Sangay. xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonfutebol ao vivofutemaxmulticanaisonbetbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi bong da the gioitin bong...

by Prague Morning Mar 06, 2019

Czech Mobile services Amongst the Most Expensive in the EU

The European Commission published data from the Mobile Broadband Prices in Europe 2018 study, which compared the prices of available mobile carrier plans in all twenty-eight countries of the European Union. The comparison revealed that Czech mobile operators belong to the most expensive mobile service providers in the EU. The data for mobile carrier plans were collected in February of last year, as well as the statistics for cellular data plans that following June, with the purpose of comparing the total costs of specific mobile carrier plans in each EU country. The study included prices for data plans ranging from 256 MB to 20 GB, as well as basic cellular plans with 30 calls, 100 SMS and 100 MB, and the largest plans with 100 calls, 140 SMS and 5 GB. The value analysis of the different cellular carrier plans when calculated in the national currency of each country, showed the vast differences within the range of consumer prices. The results? Italy, Poland, Romania, France, UK, Luxemburg and Finland have the lowest prices. For example, a basic cellular plan with 30 calls, 100 SMS and 100 MB in France takes the place for the lowest price at 4,10 Euros which...

by Prague Morning Mar 01, 2019

Czech Senate Approves Britons’ Rights in Event of ‘No-Deal’ Brexit

The Czech Parliament has approved a government plan to guarantee the short-term rights of British citizens in the country in the event of a “no-deal” Brexit. The lower house approved the plan in January, and the upper house, or the Senate, followed suit in a 72-1 vote on Wednesday, AP reports. The plan means that the roughly 8,000 Britons currently living in the country would retain their rights immediately after Brexit, even if Britain crashes out of the EU in March with no deal. They would retain basically the same rights as citizens of EU countries for a transitional period until December 31, 2020. “The goal of the law is to prevent serious complications” those Britons might face, Interior Minister Jan Hamacek told lawmakers. Author: red xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonfutebol ao vivofutemaxmulticanaisonbetbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi bong da the gioitin bong da lutrận đấu hôm nayviệt nam bóng đátin...

by Prague Morning Feb 27, 2019

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