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A plan to revamp the Prague-based European Global Navigation Satellite Systems Agency is being keenly followed in the Czech Republic. The move could see even more investment in the country’s space industry, which has been flourishing for several years.

Czech economic growth in 2018 slowed to 3 percent, down from 4.5 the previous year, according to data released by the Czech Statistics Office. While confidence in the economy is still high, in terms of economic growth, the Czech Republic is lagging behind the other Visegrad Group states.

The Ministry of Labour and Social Affairs is proposing an increase in old-age pensions next year. Minister Jana Maláčová also announced on Thursday that she was drafting legislation aimed at delivering affordable housing.

A full four-fifths of Czechs are happy with the state of their country’s economy, the highest rating from the public in 23 years, according to a survey conducted by the CVVM polling agency.

The Czech Republic’s unions have come out strongly against the minister of finance’s plans to make some 10 percent of state employees redundant as a cost-saving measure. Union leaders say the idea will impact the quality of public services – and are threatening action.

The Supreme Audit Office has highlighted a requirement imposed on corporate tax payers that may serve no purpose. For its part, the country’s tax authority says the regulation was carefully considered. However, auditors have also accused tax collectors of other errors.

The Czech economy has been thriving on many fronts in recent times. However, with growth slowing the prime minister and minister of finance are planning major cuts next year that should impact all government departments.

Prague’s Václav Havel international airport is set to undergo some major changes within the next few years, the daily Hospodářské noviny reported on Wednesday, citing development plans of the airport’s operator, Letiště Praha.

The Czech Railway Infrastructure Administration (SŽDC) is planning a massive reconstruction of Masarykovo nádraží, Prague’s oldest functioning railway station, the daily e15 reported on Tuesday. The cost of the renovation, which is likely to get underway in 2022, is estimated at two billion crowns.

Foreign filmmakers and TV crews spent nearly 5 billion crowns last year in the Czech Republic, a jump of nearly two billion crowns compared to 2017. With the state having paid out some 800 million crowns through an incentives scheme, the return on investment is solid. But competition is fierce – and heating up.