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The Czech economy is facing a recession this year caused by the energy crisis and inflation, with GDP expected to fall by 1.1 % , Deloitte predicts in its latest report. According to the study, real wages will fall again this year, but unemployment should remain at its current level.
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Close to 700 company bankruptcies were declared in Czechia last year, 41 fewer than the year before, according to data provided by CRIF – Czech Credit Bureau. The number of bankruptcies in 2021 was the highest number since 2017, which is related to the Covid pandemic.
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The Czech government has approved a bill aimed at bringing defense spending to the required NATO goal of 2% of GDP. Although Czechia will spend only 1.52% of GDP on defense this year, the 2% target should be reached in 2024.
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Public prosecutor Jaroslav Saroch today proposed that Czech opposition leader and former prime minister Andrej Babis (ANO) be given a three-year suspended sentence with five-year probation and a fine of CZK 10 million in the Capi Hnizdo (Stork’s Nest) subsidy fraud case.
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Czech President Milos Zeman told Petr Hladik (KDU-CSL) that he had reservations about his nomination for environment minister and was not ready to appoint him for now, Hladik told journalists yesterday after meeting Zeman at Prague Castle.
