Czech government debt narrowed in the third quarter of the year to 35.11
percent of Gross Domestic Product (GDP), the Czech Statistical Office
announced on Thursday.
That compares with the ratio of 38.24 percent at the same time a year earlier. Revenues in the latest period were up 6.8 percent with government spending advancing by 5.2 percent.
Unemployment in the Czech Republic rose in December following a four-month decline, going from 3.5 in November to 3.8 percent. The figure was released on Tuesday by the Czech Labour Office and, despite the rise, is the lowest for the period of December in 20 years. In all, some 280,000 people job seekers were registered.
Czech unemployment rose in December to 3.8 percent after four months of
decline, according to the data released by Czech Labour Office on Tuesday.
The figure stood at just over 280,000.
Despite the rise, it is still the lowest December figure since 1997. In December 2016, Czech unemployment stood at 5.2 percent. The number of vacancies increased in December to nearly 217,000, which is almost 3,000 more in November.
The Czech Finance Ministry has released the short conclusion of a 50-page report by the European Anti-Fraud Office into the so-called Stork’s Nest affair. While members of the lower house of the parliament’s immunity committee will be given access to the full report, it still remains unavailable to the public.
The governor of the Czech National Bank has received one of the most prestigious awards in the sector – the title of European bank governor of the year from The Banker magazine. Jiří Rusnok was given the award for dropping the low crown regime and trying to put a lid on a domestic real estate bubble.
A booming economy on the back of higher wages, more people in jobs, and strong exports – fuelled largely by the auto sector - and hardly dimmed by the end of the low crown and resurrection of interest rates as a central bank weapon. That was the big economic picture of the Czech economy in 2017 with the foot on the pedal likely to be lifted just slightly over the coming 12 months.
In his Christmas message to the nation, President Miloš Zeman highlighted the country’s economic successes, telling Czechs they had much to be proud of. As regards the country’s political future, Miloš Zeman ruled out early elections, telling politicians they would have to play the cards they had been dealt in the elections.
The European Commission has called on the Czech Republic to exclude
expenditures from the controversial Stork’s Nest project from an EU
programme for the Central Bohemia region. The Czech Ministry of Finance
says it will decide on the matter within two months. However, the
commission said on Friday that the Czech Republic would not be seeking the
sum in question from the EU. This would mean that the Czech state would end
up paying the CZK 50 million.
Eleven people were charged with the abuse of EU funds in connection with the Stork’s Nest farm and hotel complex. They include now-prime minister Andrej Babiš and his senior ANO colleague Jaroslav Faltýnek.
The pair have parliamentary immunity after being elected in October and the Czech lower house is to decide on whether to allow them to face trial in connection with the matter. They deny any wrongdoing.
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