The Czech economy expanded by 4.6 percent in 2017, according to revised
data released by the Czech Statistics Office on Tuesday. A previous figure
published in early March put gross domestic product growth at 4.5 percent.
The reason for the improvement was new information for last year from the government institutions sector.
In 2016 GDP expanded by 2.5 percent, up from the 5.4 percent recorded the previous year.
Forty-five percent of Czechs see the country’s economic situation in a
positive light according to the outcome of a poll conducted by the CVVM
agency. Six percent of those see it as very positive.
Sixteen percent of respondents said they were not happy with the situation. More than half of Czechs said they were happy with their own living standard.
In recent years the Czech Republic has seen steady economic growth and record-low unemployment.
Czech foreign debt climbed during 2017 to stand at 4.372 trillion crowns by
the end of the year. That’s 875 billion crowns more than at the end of
2016, according to figures from the Czech National Bank. The total foreign
debt represents 86.71 percent of the country’s Gross Domestic Product
Around 72 percent of the Czech foreign debt is owned by private entities with the Czech government, state agencies, and majority owned state companies responsible for the rest. Around 44 percent of the overall debt is held by banks.
The ČEZ Group is no longer the general partner of the Karlovy Vary
International Film Festival, organisers revealed on Friday.
According to reports, the energy giant backed out of further cooperation before the start of this year. ČEZ was the key partner for the last 16 years – since 2002.
The company cited economic results as the reason it could no longer serve in its previous capacity.
The annual KVIFF takes place between June 29 and July 7.
Czechs’ financial literacy improved since last year by only the very slightest of margins an annual survey commissioned by the Czech Banking Association has shown. According to the survey, they picked up 56 points out of a possible 100. The news isn’t all bad though: the number of Czechs setting aside savings has at least increased, Czech Radio confirmed.
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