The Czech crown this week reached its strongest level to the euro since before the Czech Central Bank launched its intervention regime in 2013, when it climbed to on Wednesday. I discussed the current development – and the future outlook for the crown – with Patria Finance’s chief economist, Jan Bureš.
The prices of apartments in Prague have skyrocketed in recent years, making it almost impossible for many people to find affordable housing in the capital. A group of people united in a project called Sdílené domy or Shared Houses decided to buy a house in Prague, and administer it themselves: not as a traditional tenants’ association, but as a community. In the future, they would also like to create a co-housing network across the country.
The Czech tax authorities are preparing a change in regulations that will
impact those who rent out their properties long-term via Airbnb or similar
platforms, iHned.cz reported on Thursday. In a statement, the Financial
Administration said such services would be taxed the same as accommodation
services or other forms of enterprise, not as rent.
Landlords who earn CZK 1 million or more annually will be required to register as payers of value added tax.
The outgoing Czech prime minister, Bohuslav Sobotka, says the country
should adopt the euro as soon as possible in order to remain at the core of
the European Union, Novinky.cz reported. Speaking at a congress of the
Confederation of Industry, the Social Democrat PM said there was no other
path open to the Czech Republic.
Mr. Sobotka said all modernisation measures would function only if the country were members of the EU’s free internal market and part of a core of economically strong member states.
He also said that Czech politicians who had spoken about the country leaving the bloc were “crazies and semi-crazies”.
The price of butter on the Czech market has seen a steep rise, but viewed
in context with the average wage it is still lower than it was in the early
1990s, economic analyst Aleš Michl told the ctk news agency.
Michl pointed out that while in1991 the average wage could buy 189 quarts of butter, in 2017 it would get 489 quarts.
The rising price of butter on the domestic and world markets has become a hot topic of debate ahead of October’s general elections. Agriculture Minister Marian Jurečka last week accused retailers of contributing to the rise through their high profit margins.
Unemployment in September dropped to below four percent, in line with analysts’ predictions, the ctk news agency reported. September’s unemployment was 3.9 down from 4 percent in August. According to economist Lukas Kovanda due to the lack of skilled workers more firms are now taking in graduates fresh out of school whereas in the past they demanded work experience. Unemployment had not dropped below 4 percent since October of 2008.
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