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CZECHIA: CEZ Shares Come Under Pressure After FinMin's Comments

CZECHIA
  • Finance Minister Zbynek Stanjura announced that he would not propose terminating the windfall tax before next year, which applied pressure to the shares of majority-state owned utility CEZ. This weighed on the PX Index on Thursday, prompting the index to turn away from its three-week highs. Stanjura noted that revenue from the windfall tax will be accounted for in the 2025 budget, which is currently being drafted by the government. He had earlier signalled that an early termination to the measure would be debated by the government.
  • Lidove Noviny published a source report suggesting that Prime Minister Petr Fiala is not in a hurry to propose the dismissal of Regional Development Minister Ivan Bartos, despite widespread criticism of his botched flagship project surrounding the digitalisation of construction permits. As a reminder, Bartos is also the leader of the Pirate Party and serves as Deputy Prime Minister. A high-ranking official from Fiala's ODS party told the newspaper that the PM "will not threaten his future coalition partner, whom he may need again after the parliamentary election" slated for 2025.
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