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Industry & Trade Minister Suggests Bill For Energy Subsidies May Be Smaller Than Expected

CZECHIA
  • Minister of Industry and Trade Jozef Sikela told Seznam Zpravy that there is no reason to subsidize high energy prices next year amid stabilisation in energy markets. He added that the government will probably spend much less than the planned CZK100bn on price caps this year. The cost of compensation for energy suppliers in 1H2023 amounted to CZK38bn and might reach CZK60bn by the end of the year. These comments should please Finance Minister Zbynek Stanjura amid his ongoing efforts to find additional savings and curb budget deficit.
  • The Finance Ministry is due to offer for sale CZK8bn in bonds maturing in 2032 and 2035.
  • There is little of note on the Czech data docket today, with July consumer inflation eyed tomorrow.

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