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Babis Freed Of Charges With All Eyes On Presidential Elex, Unemployment Ticks Higher

CZECHIA
  • Former Prime Minister Andrej Babis was freed of fraud charges in a case related to the alleged misuse of EU funds, which improves his situation ahead of the first round of presidential election to be held on Friday and Saturday. Babis can now focus on preparing for Wednesday's debate with his two closest rivals. The debate organised by TV Nova will be the only one involving Babis ahead of the first round.
  • The presidential election is set to occupy local front pages this week, with the leading candidates locked in a tight race to advance to a runoff. The most recent opinion polls and betting market pricing suggest that Andrej Babis and Petr Pavel are most likely to take the top two spots in the first round, with Pavel emerging as the favourite to win the entire contest.
  • The final reading of Czechia's Q3 GDP growth was revised lower to +1.5% Y/Y from the flash reading of +1.7% Y/Y, with sequential numbers left unchanged. The unemployment rate rose to 3.7% last month from 3.5% prior, printing below the expected 3.8% level. The focus on the data front turns to the update on Czechia's international reserves, due shortly.
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