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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: Oman and the Czech Republic have started negotiations on the supply of liquefied natural gas. The state budget deficit rose to 59.1 billion CZK at the end of March. Bag-making industry sews bulletproof vests instead of bags and belts during wartime. Slovak industry deepened the pace of decline to 7.3 percent in March. S&P improved Greece's rating, the country is one notch away from the investment zone. Dun & Bradstreet: The number of unreliable VAT payers rose to 25,738. The capital registered in the registered capital of Czech companies fell by 0.7 percent in a year. Business sentiment in Germany has stabilized after the March slump. Aleš Michl will be the new governor of the Czech National Bank from July; he wants rate stability. British economic growth slowed to 0.8 percent in the first quarter. BIS chief: The world may be on the verge of a new inflationary era. The Czech National Bank has legally revoked Sberbank CZ's banking license. Analysts: Inflation will rise to 15 percent, so the Czech National Bank will probably raise rates. The Czech National Bank intervened today against the weakening of the crown, which strengthened below CZK 25 per euro. Inflation in Turkey exceeded 60 percent in March, the highest in 20 years. Inflation in the US slowed to 8.3 percent in April, but is close to a 40-year high. The unemployment rate in the US fell to a new two-year low of 3.6 percent. Czech household debt to banks rose to CZK 2.087 trillion in March. Bloomberg: The US economy could surpass China's growth this year for the first time since 1976. According to Buffett, the best protection against inflation is to be exceptionally good at something. ECB confirms plans to end asset purchases in the third quarter. The crown lost a percentage point in response to the appointment of the new CNB governor Michl. Consumer confidence in the US has fallen to its lowest level in almost 11 years. One in ten households in the eurozone owns crypto assets, an ECB survey showed. Fed officials are considering reducing the balance sheet by $95 billion per month. FAO: Russians spend twice as much on food as before the invasion. The Fed raised the base rate by half a percentage point, the most in 22 years. The Russian central bank lowered the base rate and indicated another reduction. Portu analysis: Large banks are in no hurry to raise interest rates on savings accounts. The crown has strengthened by about 10 percent in the five years since the end of the CNB interventions. Inflation in Slovakia accelerated to 11.8 percent, the highest since June 2000. IIF: Global debt rose to a record $305 trillion in the first quarter. According to economists, Michl's appointment as CNB governor may indicate more significant changes. The Sri Lankan stock exchange will remain closed next week.

Stock exchanges: The coronavirus has deprived Jablonec glass and jewelry manufacturers of half of their sales. Demand for silver rose last year to the highest level since 2015 and will continue to grow this year. The deposits that ČEZ must make on the stock exchange reached 100 billion crowns in March.

Finance: Port survey: 47 percent of Czechs can save no more than CZK 2,000 per month. IFIS fund has started buying up receivables from Czech Sberbank. Kooperativa and Česká podnikatelská pojišťovna became the Insurance Company of the Year. Analysts: Gold rose by six percent this year, silver by seven percent. Sellers: Gold sales increased by tens of percent after the Russian invasion of Ukraine. Société Générale CEO Frédéric Oudéa will step down next year. Index: The average Czech investor in funds lost almost five percent this year. Expert: Regulation of crowdfunding will increase interest in it by tens of percent.