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A broad public opinion survey shows that the vast majority of Czechs have accepted the government's decision to increase taxes as a means of covering the cost of the recent floods. The STEM research agency, which conducted an opinion survey on the matter, said that the majority of respondents accepted the additional tax burden as inevitable.

Government approves a tax reform to raise extra money to finance repairs of flood damage. GDP growth slows down while unemployment continues growing and inflation remains extremely low. In this week's edition of Economics Report, we have an analyst comment on the latest economic developments.

Japan and Taiwan have joined the multitude of countries that have provided financial aid to the flood-afflicted Czech Republic. Kyoto, Japan, which is Prague's sister city, has provided a financial gift of one million yens for the renewal of Prague.

Insurance companies operating in the Czech Republic have revised flood damage estimates upward. The two largest insurers alone estimate the damage their clients incurred during the disastrous floods in August at almost 20 billion Czech crowns.