The Czech economy has been outperforming its central European neighbours and is set to reach something of a psychological milestone next year, when GDP per capita is on track to reach 85 percent of the Eurozone average. In more tangible terms, though, the average Czech is enjoying greater purchasing power, and confident they can always find work.
The rise in apartment prices in the Czech Republic, which has been extremely rapid in recent years, has come to a halt or at least decelerated, due to Czechs reaching the limits of their purchasing power as well as new mortgage regulations, iDnes.cz reported. However, things are rather different in Prague, the news site said.
The Carlsbad based Jan Becher company, which produces the iconic Czech liquor known as ‘Becherovka’, has announced record export numbers for the fiscal year between July 2017 – July 2018, with eight percent growth. In a press release on Wednesday, the company said it intends to focus more on exports to western countries in the future.
Twice a year Prague’s New Town Hall hosts the city’s biggest antique fair. This year´s autumn edition of the traditional event, held from November 15th to November 18th, is dedicated to the centenary of the birth of Czechoslovakia. The main theme is transformation of Czech design in the course of the past century.
Czechs are borrowing more than ever to buy Christmas presents for their relatives and friends, suggests a survey carried out among the country’s non-banking consumer lenders. In the months preceding the festive season, loan firms are traditionally recording an increase in the number of loan applications.
Despite the Czech school system maintaining a relatively strong position in international testing, the ratio of what the country’s teachers earn in comparison to other university graduates is among the lowest in the OECD. The government’s manifesto promises to increase the amount of investment in schooling, but it will likely be a long time before the effects become evident.