An unknown individual has made headlines in the Czech Republic, after the country’s prime betting company, SAZKA, announced that the winner of a Europe-wide lottery’s billion-crown jackpot was Czech. His luck may be seen by some as two-fold, because the win came before the expected arrival of new legislation taxing lottery winners.
The Czech Republic’s economic growth is expected to continue at a rate of around 2.5 percent, the International Monetary Fund predicted in a press release on Thursday. Inflation is expected to go down and unemployment levels will rise. The head of the organisation also warned of the large impact that American tolls on European products would have on the Czech economy.
Prague is catching up with West European real estate markets, the daily e15 reports, citing a new survey released by PriceWaterhouseCooper and the Urban Land Institute, carried out among developers and investors. According to the 2019 report, Prague is one of the 20 most sought after cities in Europe for real estate purchases.
The German Central Bank has published a prediction on the country’s expected economic growth for 2019. It lowered its expectations from 1.6 percent to 0.6 percent. The Czech manufacturing sector is very dependent on German economic strength and Germany is also the Czech Republic’s largest trading partner. However, analysts questioned by the Czech News Agency say that changes in the forecast were expected and will not affect the Czech economy.
Prague inhabitants with an average salary would have to work for nearly fifteen years for a flat of approximately seventy square metres, if they didn’t have any other expenses, suggests a study by the developer company Central group. Just a year ago, Praguers needed to work less than 14 years to acquire a flat, while in 2014 it was less than ten years.