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In Business News this week: the EC raps the Czech Republic on the knuckles
for breaking a promise to bring the public finance gap below 3.3 percent;
the Czech central bank increased interest rates by a quarter of a percent;
the number of ASDL internet connections doubles in one year; the Czech
government takes the first step towards privatising Budejovicky Budvar,
while European beer enthusiasts urge it not to; and Czech drinks maker
Kofola increases its sales by 20 percent in one year.
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Current AffairsEuropean Commission criticises Czech Republic over public deficit
It came as no surprise on Wednesday but that took no edge of the news: the
European Commission's issuing of a warning to the Czech Republic for not
doing enough to rein in its public deficit. With an increase in
expenditures the Czech Republic is set this year to miss the EU's mark of
keeping the deficit below 3 percent of the GDP as part of its convergence
requirements.
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Business NewsBusiness News
In Business News: the government approves a package of tax and public
spending reforms; the EC is to warn the Czech Republic that it is failing
to keep its public deficit under the limit of three percent of GDP; the
OECD forecasts a slightly slower economic growth for the Czech Republic;
Czech companies have won a 120-million-dollar contract in Iraq.
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