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Business NewsBusiness News
In Business News this week: the government approves a far-reaching fiscal
consolidation plan to reduce the state budget deficit, a drop in deliveries
of Russian crude oil to the Czech Republic triggers speculation of a plan
to up the price and Škoda Auto posts record sales. More
Current AffairsBusiness analyst: government’s austerity plans should not undercut growth
The government on Wednesday approved far-reaching austerity plans to
gradually lower the gap in public finances to well below 3 percent of the
GDP. The strategy combines savings and tax hikes that are expected to
impact all strata of society. Radio Prague asked business analyst David
Marek whether such extensive austerity measures were called for and who
would bear the brunt of the fiscal reform. More
Current AffairsGovernment reaffirms commitment to extensive fiscal reforms
The centre-right Czech government weathered the latest in a series of
crises on Tuesday, putting aside its differences in the interest of what
the prime minister called its sole raison d’être – putting the
country’s finances in order. The three parties reaffirmed their
commitment to implementing budget savings and tax hikes which should bring
the budget deficit below 3 percent of GDP next year and down to 1.9 percent
in 2014. More
Current AffairsEducation Minister Josef Dobeš resigns “over budget cuts”
The embattled Czech education minister, Josef Dobeš, has announced he will
step down. Mr Dobeš, who has come under severe pressure over a number of
issues including EU funds and his planned university reform, cited further
austerity measures as the reason. But observers point out that the minister
just seized the opportunity to resign before he would be forced out of
office. More
Current AffairsPolice warn investigations will suffer if next year’s budget cuts goes through
The police have warned of tremendous impacts if the government’s
wide-ranging budget cuts go ahead. The current plan calls for a cutting a
four billion crown slice from the police budget in 2013 and an additional
two and a half billion the year after that. According to an internal police
risk assessment reported on this week by the daily Právo, those cuts in
practical terms will mean closing a quarter of the country’s police
stations and laying off a corresponding amount of the force, some 10,000
police officers. The report warns that that would leave the police unable
to properly fulfil one of their main tasks – investigations. More
Business NewsBusiness News
In this week’s Business News: the Czech Republic finds itself in a
recession; women are earning a quarter less then their Czech counterparts;
bankruptcy declaration reach a four year high; computer sales are set to
soar in 2012 and a new law is giving the government the muscle to tackle
shady employment practices. More
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