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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. 1.1 million people participated in the EET lottery, which ends on Wednesday. Survey: People are afraid of economic impacts due to coronavirus. More than a quarter of entrepreneurs are experiencing serious problems due to coronavirus. Study: Construction costs in Prague are the second highest in the region. Analysts: The economy could benefit from earlier implementation of measures. Study: The virus can plunge about half a billion people into poverty. The famous Beirut hotel Le Bristol has finally closed. Reuters: India and Pakistan already want to resume parts of the economy. Entrepreneurs consider the government's relaxation proposal too conservative. Bundesbank: Germany will recover from recession slowly. WSJ: Pandemic could sever ties between China and US economies. Bioster company is operating at full capacity, sterilizing medical equipment. AP: China is trying to revive the economy, but consumers are saving. Over six million people have applied for unemployment benefits in the US. PwC: Four out of five Czech companies expect a decline in revenue or profits. Retail sales in the US fell by a record 8.7 percent. Digital companies want to support the recovery of the Czech economy. IIF: Global debt rose to a record $255 trillion last year. Chinese exports and imports fell less than expected in March. Spain eased coronavirus measures, people are allowed to go to work. Inflation is likely to continue to fall, having fallen to 3.4 percent in March. Reuters: Alphabet soup, or what a post-virus recovery could look like. Iran has over 80,000 coronavirus infections and more than 5,000 deaths. Analysis: Coronavirus measures affect up to a third of companies. CRIF: The number of closed businesses during the quarantine period has dropped significantly. The Ministry of Finance will propose exempting spilled beer from excise tax. Creditors: Changes to protect debtors limit the enforceability of rights.

Stock exchanges: ČEZ management proposes a dividend of 34 CZK per share, last year it was 24 CZK.

Finance: CRIF Group has completed the acquisition of Strands. Banks are still not counting on increasing limits for contactless payments. S&P has downgraded Renault's rating to speculative. Reuters: Georgieva courageously steers the IMF in the coronavirus storm. The Fed will release $2.3 trillion to support businesses and local governments. J&T Bank's net profit rose by 52 percent last year to CZK 3.2 billion. The volume of transactions supported by the export bank fell by a third last year. IMF economist: 100 countries are asking for help due to the pandemic. China's central bank is introducing new stimulus measures. G7 officials supported temporary debt relief for poor countries. China's central bank lowered the base interest rate. Bank of America and Goldman earned significantly less due to reserves. Insurance companies did not see increased interest in life insurance. IMF will temporarily forgive debt repayments for 25 countries fighting the pandemic. JPMorgan and Wells Fargo expect an avalanche of loss-making loans. Powell: The Fed will continue to act forcefully, actively and aggressively.