In Business News this week: the EC says it expects the Czech Republic's GDP growth to fall below 5 percent this year and also worsens the outlook for the country's public finance gap; March was the best month ever for the export of goods; unemployment falls below 7 percent; interesting figures have been released regarding the sectors in which Czechs work; and the agriculture minister wants to speed up the sale of state land to give Czech farmers an advantage before an EU accession transition period ends.
EC expects slowdown in Czech economy
The European Commission said this week that it expects the Czech economy to grow more slowly; after GDP growth rates of 6.1 percent in 2005 and 2006, the EC has forecast growth of 4.9 percent this year. It also worsened the outlook for the public finance gap, which it said should reach 3.9 percent of GDP in 2007, and fall just a little to 3.6 percent next year. The Czech Republic had pledged to reduce its deficit to 2.7 percent by 2008, in an effort to meet the criteria for adopting the euro.
Kalousek still setting 2012 as euro adoption target date
March best month ever for export of goods
Unemployment falls below 7 percent
Czechs lead EU in terms of percentage employed in industry and construction
Some interesting figures have been released this week regarding what those IN jobs actually do. 40.2 percent of workers in the Czech Republic are employed in the industry and construction sectors, the highest percentage in the whole of the European Union. The share of workers in manufacturing in the third quarter of last year was 28.4 percent, which is also the highest in the EU. But fewer Czech workers are engaged in the services sector - 55.9 percent compared to the EU average of 67.7. By the way, this country also has an unusually high share of people with full-time jobs: only Slovakia and Hungary have higher figures.