Czech Economy Shrank By A Record 5.6% In 2020
In 2020, GDP per capita decreased in almost all countries due to the effects of the coronavirus pandemic. According to the Czech Ministry of Finance’s Macroeconomic Forecast, the Czech economy…
Number of New Czech Trade Licences Drops 11% In First Quarter of 2021
In the first three months of this year, the number of new trade licences issued in the Czech Republic decreased by 11% compared to 2020. Meanwhile, the number of licences…
Czech Airlines To Resume Several Flights in Europe
Despite the announced bankruptcy, Czech Airlines (ČSA) are resuming flights to five European destinations and increasing the number of flights currently operating. The resumption is based on the development of…
Czech Companies Looking To Increase Hiring In 2021
A survey conducted by ManpowerGroup found that Czech companies are planning to hire more employees this year. The most promising sectors are construction, manufacturing, and finance, while employers in the…
Average Wages In The Czech Republic Increase By 3.8%
According to new data from the Czech Statistical Office (CZSO), the average gross wage in the Czech Republic rose to CZK 38,525 in the last quarter of 2020. The highest…
Czech Brand Loyalty: Sales of Kofola Remain Buoyant Throughout Pandemic
Despite the intensive market constraints throughout 2020 due to the coronavirus pandemic, the Kofola Group’s sales reached CZK billion in 2020, a drop of just from the previous year. The…
Czech E-Commerce Experiences Rapid Growth Due To Coronavirus
The coronavirus pandemic has increased the demand for buying goods online, with turnover from online shopping in the Czech Republic increasing by 18% in 2020. Unsurprisingly, protective masks were the…
Czech GDP Fell 5.6 Percent in 2020, Deficit at CZK 33 Billion
According to the Ministry of Finance, the state budget deficit in January stood at CZK billion, with GDP having fallen by in 2020. Economists expect a gradual return to profit…
Foreigners Are 15% of Czech Workforce, Mostly In Administrative and Support Services
According to the Czech Statistical Office (CZSO), there were approximately 602,500 foreign workers registered in the Czech Republic in 2020, around 15% of the total workforce. The number of foreign…
Income Tax Cuts To Put More Money In The Pockets of Employees From February
From February, most employees will be receiving CZK 1,000 to 3,000 more per month, due to a reform to the calculation of income taxes which abolishes the “super-gross wage”. High…