Prague City Council is set to debate measures on Tuesday to help small
businesses impacted by the coronavirus pandemic. These include proposals to
forgive rent in city-owned properties and financial support of up to CZK
Last week Prague councilors decided not to charge tenants interest fees on late payments for the duration of emergency measures to contain the spread of Covid-19. Those include closing restaurants, bistros, cafés and bars, and the restriction of movement.
On Monday, the Czech government decided to extend these measures until at least April 1 and unanimously approved suspending electronic sales records (EET) until three months after the emergency ends. This means taxpayers will not have to record sales.
The government’s recent measures to prevent the spread of the novel coronavirus have impacted around 20 percent of businesses in the country, a lightning survey conducted by the Czech Chamber of Commerce (HK ČR) has found. Most expect sales revenues to drop by 40 to 60 percent. Those hardest hit are the self-employed and small businesses.
As the number of COVID-19 infections continues to rise in Europe, the Czech government is increasing precautions. At a press briefing on Thursday Health Minister Adam Vojtěch stressed that as of yet there are no confirmed cases of the virus in the Czech Republic and urged citizens not to give way to panic.
Britain is currently the Czech Republic’s fifth largest export market and a successful conclusion to post-Brexit trade negotiations is therefore a top priority for Czech diplomats. However, Czechs are also trying to tap in to new business opportunities in the UK and the British government’s promises to invest in its northern infrastructure and hospitals have been identified as potential new avenues for exports.
Czech companies are slowly starting to feel the effects of the coronavirus epidemic that is a major threat to China and its economy, the news site Novinky.cz reports. Some companies have goods locked in Chinese warehouses and scheduled deliveries of components for computers, mobile phones and various other electronic devices are late or have stopped altogether due to production restrictions or closed factories in China.
The Czech Republic’s industrial production has declined for the first
time in five years: it suffered a drop by 3.4 percent in December, the
Czech Statistics Office reported on Thursday. The development was affected
mainly by a lower production of motor vehicles, other transport equipment
According to preliminary data, the country’s external balance in goods ended in a deficit of CZK 6.7 billion, which was worse by CZK 2.1 billion than in the previous year.
Exports decreased year-on-year by 2.4 percent to CZK 247 billion while imports fell by1.5 percent to 253.7 billion.
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