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CZECHIA: Budget in Focus, Opposition Parties Criticise Targeted Cuts

CZECHIA
  • Opposition parties have spoken against the draft state budget plans, citing the lack of several billion CZK for affordable housing. Parties including the Pirates have stated their intent to discuss the issues with the government, and have openly criticised the finance minister for “bullying” certain departments. The report from Seznam Zpravy cautions that negotiations could stretch out for months, with the Pirates prioritising the departments under their control – namely the ministry for foreign affairs and housing.
  • The Labour Ministry have been subject to criticism from trade unions after their pledge for a 5% pay rise in the coming budgets amounts to 3.7% according to their analysis. Overall, the unions are requests 7-8% pay rises over the period, according to Seznam Zpravy. Negotiations over pay are targeting a September 18th deadline which, if missed, could lead to strike action from some trade groups.
  • Czechia are set to raise as much CZK 7bln via a bond sale today, targeting 2033, 2035 and 2043 maturities. Later today, the budget committee are set to debate the CNB’s reports into both monetary and financial stability. 
EM BulletBulletGlobalEmerging Market NewsCentral and Eastern EuropeRegionCzechia

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