Government’s fiscal stimulus package rational and adequate, says president

The Czech president, Václav Klaus, has described the government’s new fiscal stimulus package as rational and adequate. However, in a statement conveyed by a spokesperson, the president said no rescue package could protect the Czech Republic from the impacts of a global recession. Mr Klaus, an economist by profession, said the plan was strong on the supply side of the economy and did not threaten the stability of the public finances. He said it would be good if further measures were added, including de-regulation in the business sector.

The government approved the stimulus package on Monday. It must now go before the Chamber of Deputies, where the coalition does not enjoy a secure majority.

Author: Ian Willoughby