Over six thousand children in the Czech Republic are currently threatened with a distraint order over unpaid debts, while tens of thousands of young people have debts that they have carried over from their childhood. A new amendment to the Civil Code, set to be debated in the lower house on Monday, aims to prevent minors from falling into debt in the future.
Raising the minimum wage tends to have a knock-on effect of higher unemployment. However, repeated increases in the minimum wage in the Czech Republic over the last few years have not that impact, suggests a new study published by the think tank IDEA, which is part of the economics institute CERGE-EI.
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.
The current dry weather in the Czech Republic is facilitating the reproduction of the bark beetle, which destroys spruce trees. Indeed, the voracious insect began swarming a week earlier this year than in 2018, which saw the most costly bark beetle infestation in this part of the world for a full two centuries.
The Czech government aims to obtain much more revenue in taxation from the likes of Google and Facebook, Hospodářské noviny reported on Thursday. Under a planned new digital tax scheme, the huge multinationals would be forced to pay taxes in the place they make earnings, in this case the Czech Republic, the business daily said.
Nearly a third of Czech households saw their financial wealth grow last year, a study published by GfK reveals. The market researcher’s director, Tomáš Drtina, told journalists at a press conference that this was the largest wealth increase since the study began to be conducted more than twenty years ago. Households expect their income to continue growing in 2019 as well.
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Screenshot: a hybrid English-friendly Prague art-house cinema where screenings are events