The proportion of Czech national wealth flowing into the payment of
pensions has dropped in the past years to 8.3 percent from 9.7 percent. The
figures were released by the Research Institute for Labour and Social
According to the outgoing head of the Pensions Commission, Martin Potůčka, politicians should respond with a statement about what percent of national wealth should be set aside for pensions payment.
The Czech Republic had the lowest unemployment rate in the EU in 2016,
according to the Statistical Yearbook, released by the Czech Statistical
Office on Wednesday.
In 2017 the Czech Republic had an average four percent unemployment rate, compared with EU average of 6.8 percent. The Czech Republic was followed by Germany with 4.1 percent, while Greece was placed at the other end of the scale with 23.6 percent.
The Ministry of Finance has improved its estimate for gross domestic product growth to 4.1 percent this year and 3.3 percent in 2018. Officials said they had revised the outlooks upwards in view of the good shape of the Czech economy and international developments. In July the Ministry of Finance had issued estimates of 3.1 percent for 2017 and 2.9 percent for next year.
The Czech Republic’s economic growth accelerated to an annual five
percent rate in the third quarter of this year form 4.7 percent in the
previous quarter, according to preliminary figures published by the Czech
It is the fastest growth over the past two years. Compared to the previous quarter, GDP growth contracted from 2.5 to 0.5 percent. Analysts expect an overall annual economic growth by around 4.4 percent.
Dominant Czech electricity producer and nuclear power plant operator ČEZ
said Thursday that a small leak had been found in a measuring pipe in the
non-radioactive part of the Dukovany-4 reactor.
The repairs will take several days, the company added. The rector was powered down late Tuesday with no electricity being supplied to the network several hours later.
CEZ has insisted that radioactive water is not involved. All ČEZ’s other reactors at Dukovany and Temelín are functioning normally.
Unemployment in the Czech Republic dropped to its lowest point in almost 20
years in October to just 3.6 percent. The result was confirmed in data
released by the Czech Labor Office. In December 1997, the number of people
without work was around 269,000. The amount of those without work in
October this year numbered around 271,000. Meanwhile, the number of
vacancies grew by some 4,000 to 210,000.
The drop in unemployment and rise of vacant positions is particularly significant year-on-year: last October, unemployment stood at five percent and the amount of vacancies was 70,000 fewer.
The Czech power utility ČEZ is selling its coal-fired power plant in Varna
to the Bulgarian company SIGDA OOD. ČEZ was forced to halt operations at
the plant in 2015 after it failed to bring it up to EU environmental rules.
ČEZ said it had been denied an exemption by the European Commission and
the plant could not continue to work without an environmental upgrade. With
a generating capacity of 1,260 megawatt, the plant serves as a back-up to
the national power grid and the Bulgarian authorities have stressed the
importance of keeping it in operation, pointing out it could become a much
needed source of energy if Bulgaria were to be hit by a gas crisis.
ČEZ wants to leave the Bulgarian market due to drawn-out problems with the local authorities. It is to decide about the sale of all its Bulgarian assets, which include two renewable energy plants and an electricity trader, by the end of this year.