The report highlights a key finding that relatively strong GDP growth cannot in and of itself be relied on to generate inclusive socioeconomic progress and broad-based improvement in living standards. The Czech Republic is among economies that have done well at making their growth processes more inclusive and sustainable.

Despite heavy investments and other funding coming in past decade from the EU, a substantial gap in research performance and innovation potential persists between the East and the West of the EU. Member institutions of the Alliance4Life believe that to a large extent solution to this problem is to be found in improved governance and managerial practices as well as development of institutional culture at research institutions.

The average price rise for new flat in the Czech capital Prague rose last year by around 19.1 percent to reach around 85,223 crowns per square metre, according to a group of the leading developers and builders of new flats in the city, Radio Prague writes.

The Czech National Bank (CNB) today increased the repo rate to 0.75%. The decision was unanimous (all five present members voted for a hike). The press conference was more interesting than the decision. Governor Rusnok presented a new forecast, which included the regulator’s projected EUR/CZK trajectory. It shows the CZK strengthening to EUR/CZK 24.6 by year-end. However, the forecast shows limited growth in rates for the remainder of the year. Komercni banka expects slower CZK appreciation and a stronger economy to allow central bankers to normalise rates at a swifter tempo. Komercni banka assumes three more hikes this year, with the repo rate at 1.5% at year-end.