Česká spořitelna, the second biggest player on the Czech mortgage market, is planning to launch a special type of housing loan under which up to 90 percent of the value of a property may be borrowed, the news site iHned.cz reported on Friday. The condition would be that customers be first-time buyers.
February saw Czech industrial production experience a year-on-year growth of 1.5 percent, according to the latest Czech Statistics Office report released on Monday. The growth was mainly the result of energy production. The automobile manufacturing sector experienced a decline, but improved compared to previous months.
Budějovický Budvar last year recorded the highest exports in its history. The brewing company – whose products are sold under the Czechvar brand name in some states – exported 1.07 million hectolitres of beer in 2018, a rise of 8.5 percent on the previous year, according to figures it has just released.
Despite the Czech government having no target date for adoption of the common European currency, an increasing number of Czech companies are using the Euro among themselves. According to data released by the Czech Chamber of Commerce, more than a fifth of all payments to domestic suppliers are now carried out in euros.
Foreign and internal economic factors will cause the Czech exports sector to lose its breath in the second quarter of 2019, at least according to an export prediction method produced by the Exporter Association and Raiffeisen Bank. Authors of the study say that the under saturated labour market in the Czech Republic has forced many companies to delay their deliveries and thus hindered potential orders from abroad.
Exports from the Czech Republic are likely to slow down in the next
quarter, the Czech News Agency reported on Sunday, citing the Export Index
put together by Raiffeisenbank and the Association of Exporters.
Among the main factors behind the negative development is the slowdown of German economy, uncertainty regarding Brexit and the threat of US President Donald Trump to impose a 25 percent tax on European cars.
Exports from the Czech Republic increased by 2 percent year-on-year in December to 316.1 billion crowns.
The Czech economy grew 2.8 percent year on year in the final quarter of 2018, above market expectations, revised data released on Friday by the Czech Statistical Office show. Analysts said it sent a positive signal that domestic growth remains sold despite a downturn in the Eurozone, and in particular Germany, the Czech Republic’s main export market.
Prime Minister Andrej Babiš has set out for South Asia this week. Together with Industry Minister Marta Nováková and a delegation numbering dozens of Czech business representatives, the PM is visiting important economic hubs in the region. Expanding science, research, education and defence cooperation is also on the agenda.