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09/03/2024
The average gross wage in the Czech Republic increased by 6.5% year-on-year in the second quarter of 2024, reaching 45,854 CZK, with a real growth of 3.9% after adjusting for inflation, according to the Czech Statistical Office (ČSÚ). The highest wage growth was seen in healthcare and social care, with an 11% increase, and in water supply and waste management, with a 7.8% rise. However, the education sector saw the smallest nominal growth at just 2.1%.
The median wage also rose by 5.8% to 38,529 CZK, with men earning a median of 41,540 CZK and women 35,565 CZK. This marks the second consecutive quarter of real wage growth following over two years of declines. The report highlights a varied impact across sectors, with some industries seeing more significant increases than others.
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09/03/2024
Czech police stopped a truck on carrying around 30 migrants, some of whom attempted to flee unsuccessfully. The migrants were found in poor health, and one woman tragically died despite rescue efforts. The highway D8 connecting Bohemia and Germany, was partially closed for about 30 minutes on Monday evening. The migrants, who were in transit and not headed for Czechia, have all been detained. Rescue workers treated the remaining migrants on-site, but none required hospitalization.
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09/03/2024
Public sector unions in Czechia will meet today to discuss their strategy for ongoing wage negotiations with the government, following last week’s failed talks on a September pay raise. The unions, representing eight of the 13 public sector federations under the Czech-Moravian Confederation of Trade Unions (ČMKOS), are currently in a strike alert over the issue. Initially demanding a 15% raise, the unions had reduced their request to 7% for some workers, but rejected the government’s final offer of a modest increase for only a portion of employees. Union leaders have threatened protests if an agreement is not reached.
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09/03/2024
The Czech Constitutional Court has allowed midwives to lead home births in its ruling on Tuesday. However, it also said that from the legal point of view it won’t be regarded as the provision of health care.
Currently, Czech authorities and courts have generally restricted midwives' roles in helping women to give birth and providing postnatal care, with actual deliveries limited to fully equipped medical facilities.
The case was brought by a midwife seeking to expand her legal authority to conduct home births and a woman desiring such services.
Previous court rulings have upheld the restrictions, prompting the midwife to argue that her rights to free enterprise and the right of women to choose their place of birth are being violated.
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09/03/2024
The Parliamentary Mandate and Immunity Committee will today continue its disciplinary proceedings against Tomio Okamura, leader of the Freedom and Direct Democracy Party, for his remarks made in Parliament about Deputy Speaker Jan Bartošek (Christian Democrats). Bartošek filed a complaint after Okamura likened him to "a modern-day Hitler" during a debate on postal voting. Committee Chair Helena Válková (ANO Party) has stated that the proceedings may not necessarily lead to a penalty, but potential sanctions could include a fine or a formal apology. Both Okamura and Bartošek have been summoned to today's session.
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09/02/2024
The Prague Stock Exchange began the week on a positive note, with the PX index rising by 0.78% to 1606.96 points, its first time above 1600 points in a month. Bank stocks, particularly Moneta Money Bank, led the gains, with Moneta closing just below its historical high. Trading activity was low overall. CEZ shares were the most traded, increasing slightly by 0.06%. The Czech koruna weakened slightly against both the euro and the dollar, trading at 25.04 CZK/EUR and 22.62 CZK/USD by the end of the day.
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09/02/2024
The Czech state budget deficit decreased to less than 176 billion CZK by the end of August, down from 192.3 billion CZK in July, according to the Ministry of Finance. This marks the best budget performance in five years, though it remains the fifth-highest deficit in the country’s history. The improvement is attributed to higher tax revenues and stagnant overall spending. Finance Minister Zbyněk Stanjura (Civic Democratic Party) expressed confidence that the government would meet the planned annual deficit of 252 billion CZK, provided responsible spending continues. Social benefits and debt servicing were the largest expenditure categories.
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09/02/2024
Prime Minister Petr Fiala (Civic Democratic Party) started the new school year by inaugurating a new science high school in Brno, specializing in chemistry. The school will eventually expand to accommodate 700 students across five classes per grade. Fiala highlighted the school's importance for the South Moravian region and the entire country, emphasizing the need to balance general and specialized education. The project, costing 300 million CZK, is funded by the regional government. The school is also linked with a technical high school to enhance practical education.
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09/02/2024
The Czech state budget deficit is projected to decrease steadily in the coming years, falling below 200 billion CZK by 2027, according to the Ministry of Finance's mid-term outlook. The deficit for 2024 is expected to be 230 billion CZK, down from the planned 252 billion CZK this year. By 2026, the deficit should reduce to 225 billion CZK, and further to 180 billion CZK by 2027. The ministry also anticipates a gradual decline in the public sector deficit relative to GDP, alongside a rise in public debt and increased debt servicing costs.
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09/02/2024
Partly to mostly clear, isolated showers or thunderstorms possible in the west and southwest. Temperatures reaching 30 to 34°C.
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