Czech economic growth in the third quarter accelerated from 4.7 to 5 percent compared to the previous quarter, according to figures released by the Czech Statistics Office. The growth was driven largely by increased domestic demand. According to economists it is the strongest year-on-year growth in 24 months. The positive trend is expected to continue.
The law on electronic cash registers introduced by the outgoing government
has had a positive impact on state finances, Finance Minister Ivan Pilný
said at a press briefing in Prague on Friday. He said that since the law on
compulsory electronic cash registers was introduced in January, the state
had collected an additional 4.1 billion crowns in taxes, a figure that
could rise to 5 billion by the end of the year.
Over 160,000 entrepreneurs registered with the ministry in the first year and another 300,000 will start delivering electronic records of their earnings in 2018.
The centre-right parties have criticized the move saying it will put many small entrepreneurs out of business. According to the Czech Association of Hotels and Restaurants over 3,000 restaurants closed their doors following its introduction. The chairman of the association Václav Stárek told the ctk news agency that while the number was slightly higher than in previous years it was not a dramatic decline.
Czech president Miloš Zeman is due Wednesday to accept the credentials of
proposed US ambassador to the Czech Republic Steve King. The news was
confirmed by the president’s spokesman.
King, a rich businessman and Republican supporter with no diplomatic experience has been in Prague since the start of November. Acceptance of his credentials will mean he can officially start in the post.
King is, according to US media reports, not that personally connected with US president Donald Trump but rather to some of his close advisors.
Czech tennis player Radek Štěpánek has been officially named the trainer
of former world number one singles player Novak Djokovic.
The announcement was made within three weeks of the two times Czech Davis Cup winner announcing his retirement from the game. The two players, both living in Monoco, are already friends.
Štěpánek said that the agreement of Andre Agassi, who is also training the Serb player, was a key to the agreement that he take up the role. Sidelined by injury, Djokovic intends to start playing again from December 28.
ANO leader Andrej Babiš confirmed Thursday that current deputy finance
minister Alena Schillerová has been pencilled in to be the new finance
minister in his incoming Cabinet.
The former finance minister Ivan Pilný had stepped down from the post and said he would not seek to continue.
Schillerová was closely involved with the phase in of the electronic cash register system, a flagship measure of Babiš when he was finance minister.
Snow and ice have caused chaos on Czech roads on Thursday. Fire services
have also been called out across the country to deal with fallen trees
prompted by the snowfall.
In south Moravia police reported around three dozen accidents on roads. Most major roads were said to be open although motorists faced problems on higher ground. Warnings have been issued that temperatures could drop to minus 10 degrees Celsius over the weekend.
The lower house of parliament’s budget committee has recommended that the
main lines of a 2018 budget be passed. The recommendation counts on an
overall deficit of 50 billion crowns.
The deficit target for this year is 60 billion crowns. That target was set by the outgoing government which tendered its resignation on November 29. The newly elected lower house is expected to deal with the budget proposal for next year when it sits on December 5.
This year they have a shortened timeframe of just a few weeks to try and make changes to the suggested flows of funds.
Prague City Council set its budget for 2018 on Thursday. It counts on
spending for the year of 70.3 billion crowns and income of just over 54
Investments should come to 16.8 billion. Most of the gap between incoming and outgoing should be covered from the city’s own reserves and state grants. This year the capital had target spending of 62.2 billion crowns.
Food consumption in the Czech Republic last year rose by 1.9 percent with
the average consumption per person climbing to 785.6 kilos of food.
Consumption of milk and other dairy products rose by 2.1 percent, the Czech
Statistical Office announced.
Consumption of fruit increased by 2.0 percent and of vegetables by 3.0 percent. Meat consumption rose to 80.3 kilos, that’s around twice the average of 1950 consumption.
The office said 2016 stood out for the all time record amount of rice eaten by Czechs. The average came to 6.5 kilos per person, up by 0.6 percent on the previous year.