The 6.5% of Czech wage growth in 4Q20 is a positive surprise, but this quarter was affected by several one-off factors and bonuses for healthcare workers. This year we expect wage growth to slip below 3%
On 10 November 2021, new rules for crowdfunding will come into force. However, these rules will not affect consumer financing (as represented e.g. by the zonky.cz project: people lending to people), but strictly to entrepreneurs and SMEs and loans in amounts of up to EUR 5 million.
According to the CZSO’s refined estimate, the Czech economy grew by 0.6% qoq in 4Q20, with the year-on-year decline easing from -4.9% to -4.7%. These figures were slightly up on the advance estimates from the beginning of February of +0.3% qoq and -5.0% yoy. For full-year 2020, the economy recorded its steepest ever decline, of 5.6%, due to the pandemic.
Under the proposed amendment to the Czech Employment Act, employers will have to report:
- job vacancies, including information about such positions, within 10 days;
- employment, and changes to and termination of the positions of employees who are not participating in the sickness insurance scheme, within 8 days;
- the fact that they employ staff who are not participating in the sickness insurance scheme, within 8 days.
- GDP growth rates seen between +3% and +6%, with Hungary posting region’s strongest upswing
- CEO Bernd Spalt: „We will experience an economic rebound in 2021“
- Insolvencies: only trailing effect, no insolvency wave
- Company outlook: lower risk costs, significantly higher profits
Strategic Directions for Czech Economic Policy
- 1) Transition to High-Tech Manufacturing
- 2) The City Campus as Idea Factory
- 3) Government Programs That Drive Innovation
- 4) Government as a Competitive Advantage
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.