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CZECHIA: Draft Budget Still in Focus as Trade Balance Sinks to Deficit

CZECHIA
  • With the draft budget still in focus for the local press, Seznam Zpravy writes that the Ministry of Finance will check again whether subsidies should be limited for green resources as a result of tight finances. This adds to the disputes over the budget that already consist of spats over funds earmarked for housing, salaries and education.
  • Idnes writes on still-high mortgage rates in Czechia, whiting that rates of around 5% will probably be an inevitable reality by year-end, despite early forecasts this year of rates hovering “around 4%”. Separately, E15 write that the average mortgage rate has fallen in September and is now the lowest in more than two years.
  • Industrial output and trade deficit numbers for July came in broadly inline with expectations. Industrial output rose 7.2% vs. Exp. 7.3%. Meanwhile the trade deficit recorded an unexpected deficit of CZK 4.1bln vs. Exp. Surplus of CZK 10.2bln.
  • Radio Prague International flag the risks of further strikes and industrial action from police officers and other security forces over low levels of pay – with strikes starting as soon as September 16th. Unions had demanded a 10% pay rise, double the government’s 5% offer.
EM BulletBulletGlobalEmerging Market NewsCentral and Eastern EuropeRegionCzechia

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