Czechs are borrowing more than ever to buy Christmas presents for their relatives and friends, suggests a survey carried out among the country’s non-banking consumer lenders. In the months preceding the festive season, loan firms are traditionally recording an increase in the number of loan applications.
The number of Czech families who have a problem making ends meet on their
family budget has dropped to its lowest since 2012, according to the
results of a survey conducted by the CVVM agency.
Fifty-four percent of respondents said they had no trouble meeting their needs on their present income, while 43 percent said this presented a difficulty. Twenty-two percent of households consider themselves poor, and 12 percent are in serious financial straits.
The number of households which consider themselves poor in the over-60 age bracket is 32 percent. According to CVVM, the financial situation of Czech households has gradually been improving since 2012.
In recent years, Prague has seen a surge in the number of people offering their rooms and apartments for rent. In fact, every fifth apartment in the downtown area is now rented out via Airbnb or similar services, according to a new study. But experts say fears of city centre depopulation may be exaggerated.
Unemployment in the Czech Republic dropped to 2.8 percent in October, which
is the lowest point since June 1997, the Czech Labour Office announced on
The number of people without work was around 215.622, while the number of vacancies grew to nearly 316,900. Last October, unemployment stood at 3.6 percent.
Meanwhile, the number of long-term unemployed dropped by 7.6 percent year-on-year, to 29.9 percent (of the total number of unemployed).
The European Commission has confirmed a slowdown in Czech economic growth.
The Commission’s newly released macro-economic forecast sees GDP growth
falling to 3 percent this year. In 2017 Czech economic growth stood at 4.3
The growth is expected to be driven mainly by growing domestic demand. According to the prognosis, Czech GDP should be at around 2.9 percent in 2019 and 2.6 percent in 2020.
Cobra, a special unit set up for combatting financial crime, has charged
five people with large-scale tax evasion connected to diesel and gas
transactions made between 2010 and 2012, the ctk news agency reports.
The unit is also reported to be filing charges against an unspecified number of tax office employees, who allegedly helped to cover up the scam. The damage is estimated at over 300 million crowns.
The tax office employees are being charged with abuse of office for which they could face up to 12 years in jail.
Labour offices in the Czech Republic have provided immediate, extraordinary
assistance to around 1160 socially deprived tenants since 2016, according
to the annual report issued by the government Agency for Social Inclusion,
which is set to be debated by the government on Wednesday.
The immediate support is designated for tenants living in lodging houses to pay first and last month's rents in their new housing. Around 560 applications have been turned down by the labour offices.
The government Agency for Social Inclusion was established in 2008 to assist local authorities to resolve housing problems and creating a liaison between people living in social exclusion and labour offices, schools and the police and currently works in 60 municipalities with over 230 socially excluded localities.
The number of long-term unemployed in the Czech Republic continues to drop,
according to data released by the Czech Statistics Office on Thursday.
The number of Czechs who have been unemployed for more than a year has dropped over the past year to 29.9 percent (of the total number of unemployed). Last year, that figure stood at 37.5 percent.
In September, labour offices around the country registered 67,093 people who have been unemployed for more than twelve months. The total number of unemployed dropped to three percent in September, which is the lowest figure for that month since 1996.
Czech Prime Minister Andrej Babiš has confirmed that the government may put off a decision on how to fund new nuclear reactors for the power utility ČEZ by extending the lifespan of the Dukovany power plant by ten years. The news has brought a cautious response from ČEZ and criticism from the opposition benches.
Czech PM at centre of new scandal over his son’s shocking revelations
PM's son claims he was forcibly detained in Crimea by his father’s associates
Czech folk artist’s award from Vladimir Putin sparks controversy
Camera traps shed new light on wildcat presence in Czech Republic
Czech PM at security conference: We need to speak more about Schengen, less about the euro