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CZECHIA: Local Budget Still a Focus, While Wages Disappoint

CZECHIA
EM BulletBulletGlobalEmerging Market NewsCentral and Eastern EuropeRegionCzechia
  • Local press focuses on the state budget gap data released yesterday, which showed the budget gap falling to CZK 175.8bln at end-August from CZK 192.3bln – the lowest in five years, but still the fifth highest reading on record.
  • Following the release, the finance ministry’s M/T outlook still sees the budget deficit continuing to decrease in the coming years, falling below CZK 200bln in 2027.
  • The publication of the government’s draft budget plans has understandably come under fire from opposition lawmakers, but most notably the CTK (Czechia’s confederation of industry body) has noted that the plans do not reflect the current state of negotiations between the CTK and the government on improving competitiveness of Czech industry, stating their intent to raise the issue with the government and re-discuss proposals tomorrow.
  • Real average grow monthly wage growth was lower than expected in this morning’s release, at 3.9% vs. Exp. 4.3%.
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  • Local press focuses on the state budget gap data released yesterday, which showed the budget gap falling to CZK 175.8bln at end-August from CZK 192.3bln – the lowest in five years, but still the fifth highest reading on record.
  • Following the release, the finance ministry’s M/T outlook still sees the budget deficit continuing to decrease in the coming years, falling below CZK 200bln in 2027.
  • The publication of the government’s draft budget plans has understandably come under fire from opposition lawmakers, but most notably the CTK (Czechia’s confederation of industry body) has noted that the plans do not reflect the current state of negotiations between the CTK and the government on improving competitiveness of Czech industry, stating their intent to raise the issue with the government and re-discuss proposals tomorrow.
  • Real average grow monthly wage growth was lower than expected in this morning’s release, at 3.9% vs. Exp. 4.3%.