Czechs living in rented homes spend more than homeowners, according to a study by the Partners consulting agency, presented on Wednesday. On average, Czechs renting a home pay 1800 crowns a month more than those who own their home. At the same time, flats are rented mostly by people with lower income.
The draft state budget for 2020 that the Ministry of Finance forwarded to
the government at the end of last week anticipated both revenues and
expenditures some CZK 20 billion higher than figures approved at the end of
June. However, the planned deficit of CZK 40 billion is not affected by
this, the minister of finance, Alena Schillerová, told Czech Television.
The minister said the increased revenues and expenditures were due to a change in the macro-economic indicators.
Prices in the Czech Republic have almost tripled since the foundation of
the state in 1993, according to a new analysis produced by Raiffeisenbank.
The Czech crown has strengthened by roughly a quarter in the same period,
the study found.
Raiffeisenbank analyst Helena Horská told the Czech News Agency that if somebody had placed CZK 100 under their pillow in 1993 it would today get them around a third of the goods it would have then.
However, if they wished to spend the same sum abroad they could buy a similar amount as today, because prices abroad have grown at roughly the same tempo as the crown has strengthened, she said.
Trust in the Czech economy experienced a slight increase in August according to the results of a monthly survey conducted by the Czech Statistics Office released on Monday. The rise is particularly thanks to greater optimism in the trade and services sectors. However, industry trust remains at a six year low and consumer trust has decreased.
The country’s ambassadors around the world should be proud of the Czech Republic and talk up its achievements. That was the message from Andrej Babiš to Czech diplomats currently gathered in Prague. The prime minister also emphasised the importance of the Visegrad Four and repeated his opposition to euro adoption in a broad-ranging speech.
Overall confidence in the Czech economy rose slightly to 95.6 in August
from 95.1 in July, according to the Czech Statistical Office.
Among Entrepreneurs, confidence increased by 0.8 points to 93.6 points, the lowest level in five years for the month of July.
Consumer confidence fell to 105.1 points in August from 106.4 the previous month, thus returning to levels recorded in May and June.
In annual terms, both consumer and business confidence is lower than in August 2018
Twenty-four people are now reported to have been charged in a massive tax
evasion scam involving 270 million crowns, according to a spokesperson for
the National Centre for Combating Organised Crime.
The charges against seven foreign nationals and 17 Czechs who operated fictitious companies came following a largescale operation in close to 60 sites across the Czech Republic. All except two of the suspects are currently being held in custody.
The several–month-long operation involved over 400 police and customs officers both at home and abroad. In simultaneous raids on homes and offices the police secured assets worth 68 million crowns and a number of illegally held weapons.
Another long-term drought could cost the Czech economy up to 80 billion crowns, equivalent to a drop of 1.6 percentage points in GDP, according to a new study. Researchers at the University of Life Sciences warn that in order to conserve water for essential use, key industries would be forced to cut production, adding an exponential ripple effect to the surface-level economic impact.
Following a largescale operation in close to 60 sites across the Czech
Republic on Tuesday, the police have now charged 23 suspects with tax
evasion and organised crime, the Czech News Agency reports. All except two
of the suspects are currently being held in custody.
Members of the elite National Centre for Combating Organised Crime cooperated with the Czech Customs Administration and ordinary police units in the crackdown, which is connected to suspicions of tax dodging worth hundreds of millions of crowns.
The suspects could face more than 10 years in jail if their connection to organised crime is confirmed.
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