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

For the twelfth time already, the expert public will be choosing the legislative act of the year. In the Act of the Year 2020 survey, the organisers are selecting the best legal norms with a positive impact on the business environment in the Czech Republic. This year’s edition includes 5 nominees. The voting continues until 11 April 2021 and the announcement of the results will take place online on 20 April 2021.