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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: The economy fell by 11 percent year-on-year. The worst is probably behind us. Council: Without further adjustments, budget proposals threaten public finances. Bundesbank: A vaccine may be needed to fully revive the economy. Income tax after the abolition of the super gross wage may be from 15 to 19 percent. Euler Hermes: A record number of risk ratings fell in the 2nd quarter. Japanese exports continued to decline significantly in July. CRIF: 946 new trading companies were added in the Czech Republic in July. The company Isolit-Bravo earned 106 million crowns last year. The Italian economy fell by a record 12.8 percent in the quarter. Deutsche Bank improved its outlook for this year's global economic development. The average wage in South Moravia was 33,049 CZK in the second quarter. Industrial prices slowed down their year-on-year decline again in July. The budget deficit rose to 230 billion crowns in August. The Ministry of Finance sold bonds for five billion CZK, interest was significantly higher. The Swiss economy fell by a record 8.2 percent in the quarter. Chamber: Some companies are concerned about the mission to Taiwan. Hartmann-Rico will not produce respirators in the Czech Republic, but in Germany. Mazars: The Czech Republic and Slovakia have the highest insurance contributions in the region. The American economy fell by a record 31.7 percent. The tax authorities accepted 2.75 million tax returns, less than last year.

Stock exchanges: The company Kovosteel Recycling's sales fell to 595.3 million CZK last year.

Finance: CRIF: Czech Republic's debt rose by 143 billion to 2.52 trillion CZK. Association: Non-banking companies provided a fifth less money this year. Four large Chinese banks have the biggest drop in profits in a decade. Foreign investors hold the most Czech bonds since 2017. According to economists, the abolition of the super gross wage is an ill-considered step. ČSOB's net profit fell to 3.5 billion CZK in the first half of the year. Broker Consulting's revenue from its main activity increased by 12 percent this year. Powell: Fed will change its approach to inflation, focus more on employment. Trinity Bank's net profit rose to 31 million CZK in the first half of the year. Raiffeisenbank's net profit fell by 52 percent to 1.3 billion CZK. Wirecard has agreed to sell its activities in Brazil. Household debts with banks rose to CZK 1.809 trillion in July. Goldman Sachs reduced its reported profit due to the dispute over the 1MDB fund. RB: GDP decline will be the deepest since the transformation, will not exceed six percent. Commerzbank will stop using EY as an auditor after the Wirecard affair. VIG insurance company expects a fifth drop in profit due to write-offs. According to the vice governor, the Czech National Bank will tolerate inflation above its target. The long-term investment account is intended to be an alternative to saving for retirement. Survey: A third of households lost part of their income during the pandemic. Analysts: The price of silver has exceeded seven-year highs, and will continue to rise. APS's sales increased by one percent last year to CZK 1.2 billion. The Czech National Bank left interest rates unchanged, worsened its estimate of economic development. All large banks' profits fell by tens of percent in the first half of the year. The New Zealand central bank has expanded its bond-buying program.