News

Spotlight issue

7th August 2018 / Economic policy / Macroeconomic Indicators, Economic Growth


ING Bank Czech Republic: Czech foreign trade solid in 1H (under circumstances)

The foreign trade balance reached a CZK98.5 billion surplus in the first half of 2018, ending below last year's level due to stronger investments, higher oil prices and a deceleration in car exports. But this is still reasonable result given a 5% strengthening in the koruna, constrained capacity of Czech producers and weaker foreign demand. 

6th August 2018 / Economic policy / Macroeconomic Indicators, Economic Growth


ING Bank Czech Republic: Data diverges on base effects

Industry accelerated by 3.4% year-on-year and surprised on the upside while retail sales grew less than expected at just 2%. Both figures were affected by base effects  

6th August 2018 / Economic policy / Macroeconomic Indicators, Economic Growth


Fitch Upgrades Czech Republic to 'AA-'; Outlook Stable

Fitch Ratings has upgraded Czech Republic's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'AA-'from 'A+'. The Outlook is Stable. 

3rd August 2018 / Competitiveness / Employment and Social Affairs


Dismissing employees in the Czech Republic is one of the most difficult in Europe

In the Czech Republic, rules for dismissing employees are among the strictest in Europe. For example, it is almost impossible to part ways with an employee who just does not fit in the team. With costs related to an employee dismissal for organisational reasons, the Czech Republic ranks fourteen. Those are the findings of the fourth edition of the Deloitte International Dismissal Survey, which compares the situation in 46 countries in Europe, South America and Southeast Asia.

2nd August 2018 / Competitiveness / Employment and Social Affairs


InterNations.org Expat Insider 2017: Czech Republic ranks first in Working Abroad Index

Expats working in the Czech Republic have everything they could ever want in terms of working abroad. The country comes 1st out of 65 destinations in the Working Abroad Index, and expats are particularly satisfied with their job and career, as well as work-life balance. An Australian working in the Czech Republic says: “My working conditions are excellent here. My employer offers me a lot of benefits, including more vacation days and good healthcare.”

Strategic Directions for Czech Economic Policy

  1. 1) The home of value-added manufacturing
  2. 2) Prague-Brno-Ostrava Creative Triangle
  3. 3) Health Care as an export industry
  4. 4) Government as a competitive advantage

Advocacy Priorities for 2018-2020 
 
People 

1. Setting a predictable policy for economic immigration based on the goal of maintaining current levels of employment for Czech citizens and wage growth that corresponds to productivity growth.  

2. Establishing incentives for companies and individuals to provide the qualifications and skills necessary for the automation of production and service industries.  

3. Introducing machine and computer programming as a required language in elementary and high schools.  

4. Improving the Healthy Life Years of the workforce and overall population through better prevention programs, better diagnostics, and better treatment.  
 
Infrastructure 

1. Develop a plan for developing and maintaining an integrated rail, road and air commercial logistics systems.  

2. Integrate the Prague airport into the national commuter network.  

3. Increase digital infrastructure capacity throughout country. 

4. Develop a housing plan that will create more entry-level housing in Prague and Brno for purchase or rent.  
 
Technology 

1. Reform investment incentives to concentrate on product research, development and production.  

2. Establish policy objectives in the area of health, energy, transport, environment and other areas and use these objectives for allocating public research funds. 

3. Require major public procurements to use objective and measurable criteria for innovation. 

 

Read the document in English.

Policy pipeline

In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.

Members of the American Chamber of Commerce in the Czech Republic