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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: UNWTO: International tourism could fall by up to 80 percent this year. According to the central bank, the Australian economy is facing a record recession. The state-owned EGAP suffered a loss of 2.38 billion crowns last year. Parliamentary committees have supported laws, MPs are proposing further measures. The Swiss economy is likely to fall the most in 45 years due to the coronavirus. Latin America has already recorded 272,000 cases of coronavirus. Bloomberg: Poland, the only EU country to survive 2008, will succeed again. Analysts: Unemployment data points to an economic recession. The economy is being crushed by the coronavirus, jobs are disappearing and the outlook is not good. IHS: Business activity in the US has fallen to a record low. Meat production increased slightly in the first quarter, and milk production was also higher. Experts: A drop in confidence was expected, but figures may improve in May. Reuters: Queues outside food banks are growing on the outskirts of Paris. The economy is expected to shrink by up to 11 percent this year. Analysts: The decline in industry will deepen even further in April. The Slovak Central Bank has worsened the outlook for economic development. Company leaders would give the country's post-November development a worse two. Foreign trade in March disappointed, April will be even weaker.

Stock exchanges: Diamo is preparing a project to explore a gold deposit in the Jesenické region. Gold has become more expensive during the pandemic, while prices of other commodities have fallen.

Finance: Banks have received over a quarter of a million requests for loan repayment deferrals. CNB: March loan growth was affected by individual changes in installments. Fitch agency worsened Italy's credit rating due to coronavirus. S&P agency confirmed Italy and Britain's ratings. Index: Average price of third-party liability insurance did not change in March. HSBC bank's profit fell by almost half due to coronavirus. ČS's net profit fell by 19.8 percent in the first quarter to CZK 3.2 billion. ČS, KB, ČSOB and Moneta will first join the smart quarantine. ECB improved the conditions of the cheap loan program for banks. Erste's profit fell by 38 percent in the first quarter due to coronavirus. ECB will start accepting lower-quality bonds as collateral due to the virus. CNB Vice Governor: The Czech Republic has the advantage of not being part of the eurozone. Slovak banks' profits fell significantly in the first quarter. American Express has significantly lower profits due to coronavirus. Czech Export Bank is looking for a new member of the board of directors. The Russian Central Bank has cut interest rates, expects a GDP decline of up to 6 percent. The Czech National Bank expects a decline in public finances to a deficit of 4.8 percent of GDP this year. Household debts with banks increased by seven billion in March. PPF gave 200 million to the fight against coronavirus, aid also went to the USA. MasterCard's net profit fell by seven percent, but it exceeded estimates. UBS bank increased its profit by 40 percent thanks to its asset management division. Komerční banka's profit fell by 16.3 percent in the first quarter to 2.7 billion CZK. The Fed left interest rates unchanged, promised extensive support for the economy. Patria: The budget deficit this year may be over half a trillion CZK. Banks have gradually begun to open their entire branch network.