Government approves economic strategy focused on private-sector growth

The coalition government of Andrej Babiš (ANO) on Monday approved its economic strategy focusing on education and the labour market, innovation, infrastructure, finance and the business environment, Industry and Trade Minister Karel Havlíček (ANO) announced. He described it as “a roadmap of all key economic steps”.

According to the document, the Czech economy is expected to grow in the coming years primarily on the back of private companies and entrepreneurs.

“The driving force of the economy will be the private sector, and the government’s task is to prepare a predictable environment for it,” the minister said. He added that this requires creating an investment climate in which the state shifts from subsidies toward tax depreciation. Investments, he noted, will only come if energy prices in the Czech Republic remain reasonable.

Further steps will include ensuring energy security in terms of price, diversification and availability of resources. The state will continue to support renewable energy sources, but subsidies will not be as extensive as in the past.