The Czech Statistical Office reports that the average monthly salary in the Czech Republic is now at CZK 31 516, an 8.5 percent year-on-year increase. Indeed, growth in salaries will experience a 15-year high in 2018 overall. However, experts say that wage growth in the private sector should decrease next year.
Andrej Babiš and his ministers are promising to introduce a so-called “national investment plan”, which will summarize countrywide infrastructure improvement needs as well as the schedule when they will be carried out. While detailed numbers are yet to be released, the prime minister has said that the 17 000 projects envisaged in the plan are to cost CZK 3.45 trillion.
The number of foreigners working in the Czech Republic has more than tripled since the country’s accession to the European Union in 2004. At the moment, there are more than half a million foreigners working in the country, according to Czech Statistics Office data and the Ministry of Labour and Social Affairs.
A Czech-US start up called DOT Glasses could help millions of people all over the world, who are in need of glasses but can’t afford them, the daily Hospodářské noviny reported on Tuesday. The start-up, which plans to produce affordable 3D-printed glasses, has just completed a crowd-funding campaign on Czech site Hithit, collecting 450,000 crowns for further development.
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.