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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: More than 250 billionaires and millionaires call on politicians to tax the rich more. Analysis: Inflation in the Czech Republic was the fifth highest in Europe in December, and the sixth highest in November. Vice-governor of the Czech National Bank: The decision to adopt the euro requires a broader political consensus. Study: 277,000 sole traders closed their businesses in the Czech Republic last year, the most since 1993. CRIF: 659 company bankruptcies were declared last year, 40 fewer than a year earlier. The inflation rate in Poland surprisingly slowed to 6.1 percent in December. The diversion of transport from the Suez Canal is making the situation of the Egyptian economy more difficult. Survey: Companies expect higher inflation in 2024 as well, three quarters above five percent. Kupka: The Czech Republic will report a public deficit of 2.2 percent of GDP, i.e. within the limit for the euro. Analysts: Unemployment in December rose mainly due to seasonal factors. Retail trade in the Czech Republic after 18 months of year-on-year growth, according to analysts, a surprise. The British economy declined slightly in the third quarter, recession looms. CNB: Czech households' debts to banks rose to CZK 2.244 trillion in November. The number of banknotes and coins in circulation increased last year, their value fell. Sellers: Lower tax on construction work will not significantly affect the price and sales of construction materials. The CNB has reduced interest rates, according to Michl, inflationary pressures are fading. The minimum wage will increase to CZK 18,900, four out of eight guaranteed wages will increase. Industrial and construction production fell in November, foreign trade did well. Survey: Company CEOs believe inflation will continue to fall, but will remain higher. CNB: Czech Republic's foreign debt rose to CZK 4.546 trillion in Q3. Real Slovak retail sales fell for the tenth month in a row in November. Inflation slowed to 6.9 percent in December, with a significant decline expected next year. Experts: Inflation in the Czech Republic will weaken next year, economy expects a slight recovery. The state collected CZK 1.39 trillion in taxes last year, up 17 percent year-on-year. According to analysts, the development of producer prices shows the end of the inflation wave. Slovaks are retiring en masse, and companies see this as a risk. Approximately 100,000 people will have to file property tax returns in January.

Stock exchanges: The price of cocoa on the London market has increased the most this year since 1989. The price of gold has increased the most this year in three years and ended above 2000 USD. Last year, the Czech National Bank almost tripled the volume of gold in reserves to 30.67 tons.

Finance: The US public debt has exceeded 34 trillion USD for the first time. Analysis: All participating pension funds made profits for clients last year. Analysis: The Czech Republic is among the countries in Europe with the highest increase in the number of card payments. Hungary has the highest debt service costs in the entire European Union. Revenues of companies in the Partners financial group increased by 17 percent last year to 4.1 billion CZK. Bloomberg: Chinese banks are tightening their approach to Russian clients due to US sanctions. UniCredit: Central and Eastern European economies to grow by three percent in 2024 and 2025. Association: Dynamic supplementary savings funds yielded an average of 20.6 percent last year. The twenty largest hedge funds earned a record $67 billion last year. ČSOB estimates: The volume of mortgages provided fell by 25 billion last year to 138 billion CZK. The Israeli central bank has reduced its base interest rate by a quarter of a percentage point. Most of the 11 approved bitcoin ETFs will not survive, said the head of Grayscale. CNB: Corporate demand for loans fell, household demand grew. The Turkish central bank has increased the base interest rate to 42.5 percent. State support for building savings is being halved.