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Coalition Agrees On Final Shape Of Fiscal Consolidation Package

CZECHIA
  • Parliament's budget committee faces the deadline to propose amendments to the government's fiscal consolidation package today. This comes after fresh consultations on austerity measures earlier this week, as the government met with trade unions and employers, which was followed by talks between ruling coalition leaders last night. Local media outlets reported that the coalition eventually agreed on the final shape of the austerity package.
  • Ceska Sporitelna's Jan Hailich told Seznam Zpravy that relatively high prices of food and other goods encourage Czechs to do groceries abroad. Poland is by far the most popular destination for Czech customers, who are expected to spend CZK17bn in Polish stores this year. If this money was spent in Czechia, the estimated tax revenue would be around CZK3bn.
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