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Today, July 1st, the Czech Republic takes over the Presidency of the EU Council. The six-month Czech Presidency follows France, and will be followed by Sweden from 1 January till 30 June 2023.
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The economic mood of the Czechs in the first half of 2022 is considerably pessimistic, according to a survey conducted by the STEM agency. The household financial outlook index fell in May, to its lowest value in eight years. The index also recorded the biggest year-on-year drop since 1993. The public expects continued rising prices, which are most threatening to those with high borrowing.
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The Czech economy grew by 4.9 percent year-on-year in the first quarter of 2022, according to a revised estimate released by the Czech Statistics Office on Thursday. A previous estimate issued at the end of May put the expansion of GDP 4.8 percent.
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The CzechRepublic had the lowest rate of unemployment in the European Union in May: 2.5%. The general level of unemployment in the EU stood at 6.1% in May, remaining at April’s level.
- Based on the increase in the consumer price index, the government decided to raise the metrics for minimum subsistence and living standards by an extraordinary 8.8%, effective from 1 July, reflecting the actual increase in consumer prices.
