After days of controversy the ruling coalition on Wednesday announced it had reached agreement on the thorniest aspect on the 2016 state budget – the gap in public spending. There is general agreement that next year’s budget deficit should not exceed 70 billion crowns, on the understanding that the government should seek ways to find extra money for increased social spending.
The number of fatal work-related accidents in the Czech Republic has dropped by half over the last 13 years, the Czech-Moravian Confederation of Trade Unions (ČMKOS) announced Monday. The organisation cited statistics from the Czech Office of Labour Inspection. It released the information ahead of International Workers’ Memorial Day remembering those who lost their lives in work-related accidents.
Economic figures and most analysts agree that the Czech economy is growth bound this year and the next. But strong performances by manufacturers, exporters in particular, are not always sharing the good results with their workers. That realization has to some extent united trade unions and members of the central bank board in pointing that there is room for higher wage rises.
The Czech Republic stands to lose around CZK 1.8 billion after an insolvency administrator rejected all of its claims against Viktoriagruppe, a company that administered some of the country’s strategic oil reserves in Germany but went bankrupt last September. The Czech side is threatening legal action.
The Czech-Slovak investment group Penta wants to go ahead with its plan to transform Letiště Vodochody into a second international airport serving the Czech capital. However, the Czech state does not seem to be in favour of the project, which would compete with the state-owned Václav Havel Airport in Ruzyně.
Czech entrepreneurs are increasingly investing in companies outside their country’s borders, the business daily Hospodářské noviny reported on Monday, citing a 2014 mergers and acquisitions report by consultants EY. The main reason for the trend is the fact that domestic banks are offering bigger and cheaper loans.
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