The average Czech household spent 149,162 crowns per person last year,
according to figures released by the Czech Statistics Office. Consumer
spending, which includes spending on food, housing, holidays, health,
transport or education, increased by 3.4 percent year-on-year.
The biggest share of the family budget is spent on housing, the second biggest amount is spent on food. The cost of food and accommodation increased by more than seven percent last year.
The only expenditures that showed a year-on-year decline were postal and telecommunication services due to lower mobile and internet tariffs.
Despite a growing economy and higher salaries, many Czechs are still taking loans to buy Christmas gifts for their nearest and dearest. According to a survey carried out by the Czech Banking Association, some seven percent of Czech consumers will borrow money to cover their seasonal expenses. What is more, around one-third of those are willing to take high-risk loans.
Referred to as a key document, the government’s National Investment Plan has been years in the making. On Monday, the long awaited concept was finally unveiled. It counts on some CZK 8 trillion being spent by 2050 on investments in all branches of state infrastructure. The prime minister says it could help in EU funding negotiations with Brussels. However, the opposition has mocked it as a simple wish list with no clear implementation strategy.
The state is set to collect CZK 1.6 billion from Prague Airport this year.
The Chairman of the Board of Directors Václav Řehoř told Czech Radio
that this was a logical consequence of the economic results of the airport
which have been developing “above expectations“. He said that
extraordinary revenues, such as the sales of air craft, played a role in
the increased profits. Last year, the state collected only CZK 350 million,
while in 2017 it was CZK 2.5 billion.
The airport is planning to invest tens of billions of crowns in the next few years. This will include a CZK 16 billion expansion of its second terminal, as well as a new parallel runway.
The price of flats in the Czech Republic is overinflated by 15 to 20
percent, according to the Czech National Bank. However, the bank board has
not changed its recommendations for mortgage lending. The forecast is that
the growth in real estate prices will slow in the coming months.
According to Deloitte, the price of an apartment in the Czech Republic rose to CZK 60,700 per square meter this year. An apartment with an area of 70 meters is selling for 4.2 million on average. In the large cities, especially Prague and Brno, prices are significantly higher.