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ZLATOVNA ECONOMIC NEWS
A quick look at what's new in the world of economic policy, finance and precious metals.

Economy: Analysis: Budget expenditures for 2024, adjusted for inflation, correspond to 2019. One of the most cited Czech economists, Milan Zelený, has died at the age of 81. Analysts: The impact of economic stagnation on unemployment is minimal. Institutes: The German economy will grow significantly slower next year, contrary to expectations. Inflation in November was 7.3 percent, experts expect a sharp decline in January. CNB: The Czech Republic's foreign debt rose to CZK 4.546 trillion in the third quarter. Sellers: Lower tax on construction work will not significantly affect the price and sales of construction materials. Analysts estimate December inflation between 7.2 and 7.5 percent and 10.8 percent for the year. Inflation rate in Turkey accelerated to 64.8 percent in December, the highest in a year. Czech National Bank cut interest rates, according to Michl, inflationary pressures are fading. Chains react to VAT changes with actions, according to the analyst, it is mainly marketing. The Czech National Bank's Bank Board is divided on the opinion on further rate cuts. Business activity in the eurozone surprisingly decreased again in December. The Slovak Central Bank expects faster GDP growth and significantly lower inflation. Survey: Companies expect higher inflation in 2024 as well, three quarters above five percent. Study: People underestimate wealth inequalities between the rich and the poor. BCG data: The fewest mergers were concluded in the Czech Republic in the third quarter since 2014. Frolík: The Czech Republic lacks a long-term strategy agreed across the political spectrum. CRIF analysis: 207,772 entrepreneurs have disappeared in the Czech Republic by the end of November this year. Inflation in Turkey rose to 62 percent in November, mainly due to housing becoming more expensive. According to analysts, October's industrial growth was more of a fluctuation than a change in trend. The court cleared Maradona of charges of tax evasion worth millions of euros three years after his death. The inflation rate in Poland surprisingly slowed to 6.1 percent in December. The British economy declined slightly in the third quarter, a recession is looming. CZSO and CNB: The net worth of Czech households last year was 3.77 million crowns. According to analysts, inflationary pressures in the Czech Republic are clearly weakening.

Stock exchanges: The price of gold temporarily reached a record high, exceeding 2,100 dollars per troy ounce. The price of emission allowances in the EU fell below 72 euros per ton due to the slowdown in industry. The price of cocoa on the London market increased this year by the most since 1989.

Finance: ČSOB estimates: The volume of mortgages provided fell by 25 billion last year to 138 billion CZK. CNB: Banks' gross profit increased by 5.5 billion to 180.1 billion CZK in the three quarters. The British central bank did not change interest rates, it wants to keep them high for longer. The Hungarian central bank reduced the base interest rate by 75 points to 10.75 percent. Banks have started to reduce mortgage rates, Moneta, KB and Raiffeisenbank announced a decrease. Retail investors invest significantly more in ETFs than institutions, a survey has found. Survey: Over 27 percent of Czechs rate 2023 as financially successful, more than last year. Iran and Russia will not trade in dollars, but in their own currencies. The Israeli central bank has cut its base interest rate by a quarter of a percentage point. The US public debt has exceeded the $34 trillion mark for the first time. The Russian central bank, as expected, has increased the base interest rate to 16 percent. Hungary has the highest debt service costs in the entire European Union. Analysis: The Czech Republic is among the countries in Europe with the highest increase in the number of card payments. The debt of government institutions rose to CZK 3.214 trillion in the third quarter of last year. Bloomberg: Billionaire Vítek founded companies in the emirate of Abu Dhabi. Analysis: All participating pension savings funds made a profit for clients last year.