Politics / Macroeconomic Indicators, Economic Growth
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The EU recovery aims to save the economy, and change politics
The proposed EU recovery program represents an attempt to transform the power relationship between the EU and its member states, and its influence over the economic development of the continent. This is more than an argument over which member state gets the best slice of the pie: this is an attempt to shift the power of economic policy making to the Commission and to introduce the power of the EU to collect tax revenue from EU citizens.View more
AmCham Board Assessment of the Ukraine situation: The longer the conflict continues, the deeper and more unpredictable the impact, and harder to convince companies it is safe to return to either market.
The AmCham Board met to discuss the short and long-term implications of the Ukraine conflict. Along with top representatives from member companies, the Board was briefed by Martin Jahn of ŠKODA AUTO a.s., AmCham Vice-President Milan Šlapák of GE Aviation, Board member Jaroslava Rezlerová of ManpowerGroup Czech Republic, and Jiři Schneider, a former Deputy Minister of Foreign Affairs of the Czech Republic.View more
CEC Group Inside Report - March 1
After a meeting of the State Security Council, the coalition government of Petr Fiala (ODS) decided to support Ukraine to the tune of CZK 300 million, including shipments of weapons and munition. The government also closed the Russian Consulates in Brno and Karlovy Vary and suspended the Czech Consulates in St. Petersburg and Yekaterinburg. This is a second strong anti‑Russian measure of Czech diplomacy after the government of Andrej Babis (ANO) expelled about 60 Russian diplomats last year in reaction to the terrorist attack in a Czech ammunition depot.View more
Resources for Czech Recovery Plan
The Ministry of Industry and Trade (MIT) has been finalizing the Czech National Recovery Plan (NPO) in cooperation with other ministries and the Government. The Recovery Plan represents a generational opportunity to use public funds not only to modernize infrastructure, but perhaps the last great opportunity to use EU money to accelerate the Czech economy into the top rank of global innovative economies. "European money should help us start and modernize the economy after the coronavirus pandemic, but not only that. According to the latest information, we could receive about CZK 172 billion," says Deputy PM and Minister of Industry and Trade Karel Havlíček. "The support is not only in the context of Covid-19, the Plan also addresses other topics such as digitization, sustainable transport, the green economy, health care, education, construction of day-care centers or homes for the elderly."View more