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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 committee assessed the Ministry of Finance's economic development estimates as optimistic. Survey: 80 percent of Czech exporters are having problems with orders. Survey: People are afraid of economic impacts due to coronavirus. EIU: The world economy could go through a double recession. Breweries do not want to pay CZK 100 million in tax for spilled beer. Entrepreneurs consider the government's proposal for easing too conservative. 1.1 million people participated in the EET lottery, it ends on Wednesday. Association: Losses for carpenters will continue for another three months. PwC: Four out of five Czech companies expect a decrease in revenue or profits. EY: The vast majority of companies expect a decrease in sales in April. Fidelity: Global corporate revenues could fall by 44 percent this year. More than a quarter of entrepreneurs are facing serious problems due to the coronavirus. Trudeau: Government to support the energy sector with $1.7 billion. Survey: Eurozone is in its deepest recession in its history. Handelsblatt: Coronavirus is plunging emerging countries back into poverty. Reuters: China's economy will grow at its slowest pace in 44 years this year. China's economy shrank by 6.8 percent year-on-year in the first quarter. China's exports and imports fell less than expected in March. Russia's foreign debt fell to its lowest level since 2009. Study: Construction costs in Prague are the second highest in the region. MF: A blanket VAT deferral would be an unjustifiable advantage. Analysis: Measures against the coronavirus affect up to a third of companies. Survey: One fifth of companies consider government support sufficient. Another 5.2 million people have applied for unemployment benefits in the US. The Ministry of Finance sold bonds for CZK 73.9 billion today, interest continues. Survey: Seven percent of people lost their jobs during the epidemic. McKinsey: Unemployment in Europe may double.

Stock exchanges: The price of gold has climbed to its highest level since 2012. Forbes: Where to go next, when the price of oil fell below zero for the first time. Analysts: The fall in oil prices is unprecedented, it will stabilize in the summer.

Finance: Due to the virus, the ECB will also start taking lower-quality bonds as collateral. The Chinese central bank has lowered the base interest rate. Entrepreneurs have so far received CZK 1.9 billion in COVID programs. China's central bank is introducing new stimulus measures. American bank Morgan Stanley's quarterly profit fell by 32 percent. J&T Bank's net profit rose by 52 percent last year to CZK 3.2 billion. Insurance companies have begun to open some of their branches. Large American banks are seeing a sharp drop in profits, they are building up reserves. Insurance companies have not seen increased interest in life insurance. Large banks have received almost 200,000 applications for loan repayment deferrals. Michl will propose to the central bank to reduce the rate to 0.5 percent. Banks are still not counting on increasing limits for contactless payments. The volume of investment in hotels in the Czech Republic increased by 227 percent last year to CZK 16.7 billion. The IMF will temporarily forgive debt repayments for 25 countries fighting the pandemic. Credit Suisse increased its profit, but warned of the possible impacts of the virus.