The cabinet decided yesterday to sell its stake (67%) in Nova hut to Dutch LNM Holdings. First April LNM Holdings offer promised investments in value of CZK 6bn, the offer was improved to CZK 17.5bn lately and finally the investments should reach roughly CZK 20bn according to latest information. The government agreed the sale two days before the exclusivity for talks expired.
Senate committee rejected yesterday the bill for financing the purchase of Gripen fighters.
Simultaneously, the cabinet decided to put off the signing of the contract with british-swedish consortium BAE Systems – Saab until September 30.
Presidium of the National Property Fund at an extraordinary session last night removed FNM head Zdenka Nemcova. A main reason for the removal was probably the fact, that the NPF acted at variance with the government will and did not okay interlinking of power utility CEZ with regional power distributors.
Chairman of Parliament’s Economic committee Josef Hojdar said yesterday, that the CR’s entry to the EU could help our GDP to grow by 1.3% to 2.0%. On the other hand, delayed accession would cause deceleration of FDI inflow and political instability.
Composite confidence indicator rose to 4 points in May, which is the highest level since May 2001. The rise was driven by increasing confidence in business sector and trade. Consumer confidence and confidence in construction remained stable.
Polish central bank lowered its key 28-days intervention rate by 50 bps yesterday. The central bank had faced a pressure from government for a longer time, which had graduated into an effort to limit the bank’s independence. But fortunately, the need for further cut was shown by the latest economic figures – falling inflation to minimum levels and substantial deceleration of polish economy.
Click here for the „Czech economic daily“ in .pdf format.