Economic policy
This section reports on economic policy initiatives of the Czech government, the EU, and other entities that have a direct impact on the competitiveness of the country. It also includes information on economic priorities of the AmCham and other leading associations.
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Spotlight issue
CNB stays on hold as expected but acknowledges risks
As broadly expected, the CNB left monetary policy unchanged at today's board meeting. The latest economic developments were seen as not diverging from those outlined in the latest CNB forecasts. CZK weakening was again called a natural stabiliser. We expect policy rates to remain unchanged until 1Q22. If the CNB sees the need to loosen monetary policy, we think it would do so by CZK devaluation.
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Who will benefit from abolition of super-gross wage?
The government has decided to proceed with the long-promised abolition of the super-gross wage, while at the same time introducing the progression of personal income tax. The Chamber of Deputies is currently debating an amendment to tax laws, which has already passed the first reading. The coalition has now agreed to submit an amending proposal abolishing the super-gross wage. Who will pay less and who will pay more tax if it is passed?
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