The Czech Ministry of Health (MOH) purchased CZK 5.4 million of respirators from a real estate firm whose owner was Andrej Babis’ biggest fundraiser in 2017, Denik N reports. The Ostrava based real estate services firm Reality World was founded in 2008 by Jakub Koudela. The company’s most recent available financial results were from 2017 […]
The Czech government approved another adjustment to the 2020 central state budget on Monday, setting the planned deficit at CZK 300 billion as the country deals with the new coronavirus outbreak, Finance Ministry said. Originally, this year’s budget was planned with a 40-billion-crown deficit, but the macroeconomic outlook worsened significantly due to the impact of […]
Opposition parties are calling on Health Minister Adam Vojtech to explain how multiple contracts for medical supplies were awarded to shell companies with little or no revenue. La Factory won a CZK 1.2 billion contract for face masks from the Ministry of Health (MOH). Despite being inactive, with no sales, no employees, and assets of […]
The Czech National Bank has rejected Prime Minister Andrej Babis’s suggestion that it should share its profit with the state and lower interest rates further. CNB stressed that it is independent of the government. The central bank said it was unclear what profit Babis meant. They pointed out that the CNB Bank Board decided to […]
The government has adopted a bill to prevent key Czech firms from being taken over by foreign investors. The law, which still has to be passed by Parliament, is not linked to the measures taken in connection with the coronavirus pandemic. “The law should prevent the unwanted takeover of critical companies by foreign investors, which […]
The Czech Embassy in the United States recommends Czech citizens book flights to Europe now as cancellations mount driving ticket prices up. The embassy confirmed that there will be a repatriation flight from Chicago to Prague next week. The flight is for Czech citizens unable to travel via commercial carriers. Foreign Minister Tomas Petricek said […]
The state budget deficit will increase from CZK 40 billion to CZK 200 billion. President Milos Zeman signed the amendment to the Budget Act. The rise in the deficit is in response to the coronavirus pandemic. Due to the projected economic downturn, there will be a revenue shortfall and additional expenditures to fight coronavirus. Budget […]
Chinese Embassy in Prague secretly purchased personal protective equipment Beginning in January, the Chinese embassy in Prague instructed thousands of Chinese citizens living in the Czech Republic to purchase personal protective equipment for shipment to China, Aktualne reports. At the beginning of March, the Security and Information Service warned the government that the Chinese Embassy […]
The Czech government has declared an unprecedented ban on travel in connection with the coronavirus epidemic. Czechs and foreign nationals with permanent or long-term residence (90 days) in the Czech Republic will not be allowed to leave the country. Foreigners will not be able to enter the country for the duration of the 30-day state […]