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Reports Shows Czech Economy Would Be Ready For Adoption Of Euro In 2024

  • The annual report prepared by the Ministry of Finance and the CNB suggested that Czechia will be ready to adopt the euro in 2024, but advised that the government should not take steps to that effect. However, four out of five parties of the current ruling coalition support the adoption of the euro. The only party opposing a switch is Prime Minister Petr Fiala's and Finance Minister Zbynek Stanjura's ODS. Hospodarske Noviny reported that Stanjura is now trying to convince fellow ministers from TOP09, STAN, Pirates and KDU-CSL to rule out efforts to join the eurozone next year.
  • Prime Minister Petr Fiala said that the education sector strike scheduled for Monday is "irresponsible" and accused trade unions of having a confrontational stance since the inauguration of his government and taking advantage of the current difficult budgetary situation.
  • CNB's Karina Kubelkova told Seznam Zpravy that the traditional January repricing of goods and services provides a source of "big uncertainty" as its impact could be "significantly higher" than assumed in the latest macroeconomic forecast. She added that policymakers are concerned "for now", even as the disinflation trend is expected to resume early next year.
  • Prime Minister Petr Fiala, Finance Minister Zbynek Stanjura and CEZ CEO Daniel Benes will hold a joint media briefing on energy security at 09:30GMT/10:30CET. As a reminder, a parliamentary committee adjourned for the third time the debate on a bill that would make it easier to revamp CEZ's structure.

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