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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: EC apologizes to Italy for lack of solidarity in the coronavirus crisis. The volume of Chinese investments in the EU fell by 33 percent last year to 12 billion euros. Study: Virus may push about half a billion people into poverty. Chinese exports and imports fell less than expected in March. The economic advisory team of the crisis staff divided its work today. Handelsblatt: Eastern Europe could benefit from the coronavirus. Unemployment is estimated to have risen in March, possibly to 4.3 percent. Investors were again interested in government bonds today. Morgan Stanley: The US economy will fall the most this year since 1946. Bernanke: The US economy may fall by 30 percent in the quarter. A sawmill for processing coniferous wood has been put into operation in Štětí. Sales rose above expectations in February, the effects of the epidemic in March. The share of companies out of operation fell to 67 percent. Reuters: India and Pakistan already want to resume parts of the economy. VŠE academics propose changes to taxes due to the pandemic. Coronavirus in Africa threatens the livelihoods of many people. Survey: 82 percent of construction workers have financial losses due to coronavirus. MF: A blanket VAT deferral would be an unjustifiable advantage. Survey: 72 percent of developers have financial losses due to coronavirus. Reuters: China's economy will grow at its slowest pace in 44 years this year. Survey: Two-thirds of companies are optimistic about the future. Analysts: The economy could benefit from earlier implementation of measures. IIF: Global debt rose to a record $255 trillion last year. The number of purchases via EET increased by 12 percent during the weeks of quarantine. According to analysts, inflation will continue to fall. According to most analysts, year-on-year inflation in March fell. The restaurateur requested a payment deferral, but the authority foreclosed on the apartment instead. Analysts: The construction industry was mainly helped by warm weather in February.

Finance: JPMorgan and Wells Fargo expect an avalanche of loss-making loans. Some entrepreneurs in the tourism industry in South Moravia will quit. Powell: The Fed will continue to act forcefully, actively and aggressively. UniCredit will lay off 5,200 people in Italy, but will employ 2,600 young people. The Polish central bank has reduced the base interest rate to half a percent. The World Bank sees a willingness to postpone debt repayments for the poorest countries. The price of gold is today the most expensive in history in korunas. Iannaccone is the vice chairman of the board of directors of UniCredit Bank in the Czech Republic. J&T Bank's net profit increased by 52 percent last year to CZK 3.2 billion. Michl: GDP decline would be close to 10 percent depending on electricity consumption. ChytryHonza.cz will lead Kantor Skoupý. Insurance companies did not record higher interest in life insurance. HK: Entrepreneurs face bureaucracy when applying for aid. Survey: Pandemic complicates life for three-fifths of Czechs. Reuters: Georgieva courageously steers IMF in coronavirus storm. Fed to release $2.3 trillion to support businesses and local governments. IMF: Coronavirus has worse impact on economy than financial crisis.