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Final Q4 GDP Data Confirm Technical Recession, Labour Minister To Meet Trade Unionists

  • Czechia's Q4 GDP growth was revised to +0.3% Y/Y according to final data from a flash reading of +0.2% and after a +0.2% print for Q3. Quarterly growth was confirmed at -0.4% Q/Q, which means that Czechia entered technical recession towards the end of last year.
  • Labour and Social Affairs Minister Marian Jurecka will meet with officials from the national trade union organisation today at 13:00BST/14:00CEST to discuss the planned reforms of the pension system. Prime Minister Petr Fiala yesterday said that limiting public spending must be the main tool for reducing Czechia's budget deficit.
  • The CNB reported a record loss of CZK411.9bn last year in a financial statement submitted to the Chamber of Deputies and published on its website.

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