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.
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
Fitch Ratings has upgraded Czech Republic's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'AA-'from 'A+'. The Outlook is Stable.
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.
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) The home of value-added manufacturing
- 2) Prague-Brno-Ostrava Creative Triangle
- 3) Health Care as an export industry
- 4) Government as a competitive advantage
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