24th November 2015

Economic Policy: Czech Association of Exporters on CNB interventions, higher wages (updated)


Click on the video from the XI Export Forum organized by the Czech Association of Exporters on 14-15 November 2015. The Association presented their ananlysis 22 years of Czech export. Czech export generated 84.6% of GDP in 2014, compared with 41.3% in 1993. Since 1993, the average wage in the Czech Republic almost quadrupled. Also, the HlidaciPes.org server wrote that, in 2014, Czech export-oriented companies newly employed more than 25,000 people and exporters consider 3-6% wage increase a realistic possibility. CTK/Zet.cz wrote that average wage rose in 48% of Czech businesses in 2015. Also, the Association of exporters estimate that weak Czech crown helped them increase export value by Kc400bn in 2014.

Read also an interview with Central Bank governor Singer for the HlidaciPes.org server: Interventions in 2017? Only if development in the Eurozone becomes dramatic. Click also on Deloitte's David Marek tweet related to IMF growth forecasts: Short-term: a tiger. Long-term: a turtle.

Read also recent article by CTK/Zet.cz on the state-run Export Guarantee and Insurance Corporation (EGAP) saying that there are 15-20bn CZK missing in the Czech system of export financing. The state budget could cover the gap. Major part of export insurance contracts concluded in January to September 2015 covered exports to Azerbaijan and Egypt. 


Click here to view results of the 189th Žofín fórum: Successes and outlooks for Czech export, held on 5 November 2015.

Members of the American Chamber of Commerce in the Czech Republic