The coronavirus outbreak is forcing Czech consumers to change their shopping habits, the daily e15 reported on Tuesday. The number of cash withdrawals from ATM machines dropped by nearly 50 percent since the government declared a state of emergency in mid-March. At the same time, Czech banks have reported a steep increase in electronic payments.
Deputy prime minister and minister of trade, Karel Havlíček has indicated that the Czech government is working to resolve the present lack of respirators for the home market once and for all. He says there is a project in the pipeline for respirators to be produced in the town of Olomouc, which would fully cover the country’s future needs.
ING’s latest economic and financial analysis on the economic costs of Covid-19 predicts the Czech Republic will show negative GDP for full-year 2020. The volatility of the Czech crown will remain “extra elevated”, it says, given the positioning-related moves in the currency and the risk of central bank interventions.