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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: Economists: Budget deficit will be significantly over CZK 300 billion next year. Creditreform: In Germany, there will be an increase in corporate insolvencies this year for the first time since 2009. Survey: Every fourth European claims that their financial situation is uncertain. Analysts: The situation on the labor market is worsening, unemployment will slowly increase. Confidence in the economy increased slightly in November, entrepreneurs remain pessimistic Special instructions: In paragraphs 1, 4 and 5, we have added the opinions of analysts, in paragraphs 6 to 9, additional information from the survey. The Czech National Bank left the limits for providing mortgages unchanged. Unemployment in the Czech Republic remained at 3.5 percent in October, and will probably increase in the coming months. IMF mission: Czech economy to shrink by around half a percent next year. Construction sector is declining, trade remains in deficit, industry is growing only thanks to weak last year. Study: Number of corporate and business bankruptcies increased in November. The Chamber of Deputies approved the budget for next year with a deficit of 295 billion crowns. Analysts: This year's foreign trade deficit could exceed 200 billion crowns. Analysts criticize the government for not reforming public finances in the first year. The Ministry of Finance and the Czech National Bank recommend that the government not set a date for adopting the euro yet. After two years, the government's agenda was not dominated by Covid, but by the Russian invasion. Bloomberg: The decline in property prices in Sweden may deepen the economic crisis. The first coins with the portrait of King Charles III are entering circulation in Britain. In October, the Czech National Bank spent 79 million euros on interventions, the least in the intervention period. Chinese imports and exports fell the most in two and a half years in November. Study: In October, the number of corporate bankruptcies fell, while business bankruptcies rose. Nomura: Czech Republic, Hungary and Romania face the risk of a currency crisis. The inflation rate in the US surprisingly fell to 7.7 percent in October. The Chamber of Commerce has published a yearbook for the Karlovy Vary region, mapping its condition. Unemployment in Slovakia fell to a more than two-year low of 5.90 percent. Fiala: A combination of nuclear and renewable energy is the only truly safe scenario for the Czech Republic. Putin should have come to confront us, Sunak told G20 leaders. Survey: Almost half of Poles intend to limit spending on Christmas gifts this year. The Turkish central bank has cut interest rates to nine percent despite high inflation. The New Zealand central bank has raised the base rate, warning of a recession.

Stock exchanges: Saker, a metal processing company, saw significant growth in both sales and profits last year. The price of gold rose to a six-month high. Bloomberg: India is the main driver of the steel industry thanks to construction. Traders: Czechs are selling their savings in precious metals more often. Russian aluminum producer Rusal has added business contracts for next year. Analyst: Gas and coal have risen in price by tens of percent this year, while precious metals have fallen in price.

Finance: The number of payment cards issued in the Czech Republic has increased by 400,000 year-on-year to 13.65 million. Cryptocurrency lending firm Nexo will end its activities in the US. McLaren sold part of its vintage car collection to raise money for the new Arturo supercar. Société Générale's quarterly profit fell but exceeded expectations. The UK financial services sector is facing its biggest changes in more than 30 years. The trial of the head of bankrupt financial firm Wirecard begins in Germany. The American cryptocurrency firm BlockFi has filed for bankruptcy protection. Both Česká spořitelna and Komerční banka have reported significant profit growth in the past three quarters. The J&T fund has received approval from the Czech National Bank to acquire a 19.99 percent stake in Moneta Money Bank. Servers: Xixoio management faces suspicion of fraud, damage is half a billion crowns.