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The Ministry of Finance has revised its macroeconomic forecast. The Czech parliament has overturned a presidential veto of a new law on Value Added Tax. The Czech government has agreed to sell the country's biggest downstream oil group Unipetrol to Poland's PKN Orlen. World Bank experts are coming to help the Czech Republic with a reform of the country's health sector. News from the car market - prices on the decline, Skoda to launch new mini model. Five percent of Czech households and companies have problems with repaying their loans and over

The Czech National Bank has called on the government to step up its efforts in cutting the country's growing debt to avoid future crisis. The government has once again postponed a final decision on a new bill on property declarations. The Finance Ministry expects the 2004 budget gap to drop below 6 percent of GDP. The Prague Stock Exchange is to experience the first IPO since it was established 14 years ago. A government commission has recommended 25 projects for the post-war reconstruction of Iraq. The Czech National Bank has reported an increased

Czech President Vaclav Klaus has vetoed a new law on VAT, a move that may complicate Czech trade with fellow EU members after May 1st. The World Bank has encouraged EU newcomers joining next month to adopt more economic reforms. The Czech National Bank has changed its strategy of managing foreign exchange reserves. The inflation rate has quickened to its fastest annual pace in nearly two years.

Changes are in the pipeline for both the employed and unemployed - a new Labour Code is being processed and parliament has passed a new bill on employment policies. The European Commission has expressed serious worries about the state of Czech public finances, and the heads of the largest Czech banks and the prime minister have agreed on the need to strengthen creditors' rights by streamlining bankruptcy procedures. The Trade Unions warn against already excessive and rapidly growing household indebtedness. The Finance Ministry is reportedly seeking

The Czech Republic's foreign debt grew by 81 billion in 2003 to 894 billion. Anti-monopoly office fines three largest Czech bakeries for cartel. The Czech government offers US company Boeing 1 crown for its stake in troubled Czech aircraft maker Aero Vodochody. Czech civil servants threaten to go on strike after the government decided to significantly reduce their special end-year bonuses. The Industry and Trade Ministry decides to review a project in support of Iraq because of the involvement of a former communist secret police agent. The Czech Republic

The Czech foreign trade balance last month reached its highest monthly surplus in a decade. The government has announced the privatisation of two coalmining companies. The telecommunications regulator has cut fixed-to-mobile interconnection rates. The number of tourists visiting the Czech Republic was up last year, while the number of bankruptcies was down. A poll suggests few Czechs will go choose to work in other EU countries after accession. And the governor of the Czech National Bank has called for changes in euro adoption criteria.

The Czech Republic's state debt grew by almost 25 percent in 2003. Czech producer prices grew faster than expected in February. Czech central banker says interest rate hike not imminent. Czech retail sales surprisingly fell in January, the first negative figure since August 2002.

Czech car maker Skoda Auto in Mlada Boleslav has been announced as the winner of the Top 100 most admired Czech companies today, ahead of the Pilsner Urquell brewery and power utility CEZ. Skoda is one of the most successful Czech companies and by far the biggest Czech exporter. It accounts for 10 percent of the total Czech exports, selling 80 percent of its production on markets in more than 70 countries. Skoda's market share in the Czech Republic is about 50 percent.

After joining the EU, the Czech Republic will abandon its trade policy in favour of a common trade policy directed from Brussels. This will mean a loss of some trade benefits, including the GSP benefits granted by the United States. On the other hand, the move will present new opportunities for Czech firms in other parts of the world.

Czech GDP accelerated in 2003 in year-on-year terms. Czech consumer prices subsided in February. The unemployment rate in the Czech Republic has reached an all-time high. The Czech construction sector began the year with a 15 percent year-on-year jump. Japanese automotive company Asmo is to start production at its new plant in the town of Zruc nad Sazavou.