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Czech Watch - 19 April 2002

19.4.2002 10:19
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The gross public debt of the Czech Republic rose to CZK 404.5bn last year, 18.8% of GDP. In comparison with 2000, the public indebtedness increased by CZK 72.1bn (21.7%). The governmental debt went CZK 53bn up last year, to 342.5bn.The state debt shares 85% of the total public indebtedness. The debt of municipalities rose to CZK 48bn (12% from the total public debt). The debt of health insurers and off-budget funds reached CZK 14bn (3% of the total public debt).

According to the Czech energy regulator, the export of electricity from the CR increased almost by 10% y/y in February to 1.759 TWh. It was exported 3.459 TWh in total for the first two months of this year which means 10.3% rise compared with the same period of last year.

Christoph Zöpel, German Minister of foreign affairs deputy, confirmed yesterday that the German government supports the course of European Commissioner for Enlargement Günter Verheugen. He said in Prague last week that the so-called Benes decrees would not be an obstruction in the Czech republic’s accession talks.

The ECB’s policy making council agreed yesterday with nomination of Lucas Papademos, Greek central bank chief, for the post of the ECB Vice President. Papademos is to take over the post early in June.

Following a stagnation in January, the Eurozone’s industrial output rose by 0.2% m/m in February. The same increment was achieved in the EU. However, the production fell 3.3% in the Eurozone and 3.6% in the EU in comparison with last year’s February.

February’s production prices were 0.7% up in the Eurozone, respectively 2.3% higher on year-on-year basis.

Hungarian profusion? Average gross wage surged in Hungarian economy 19.2% y/y for the first two months of this year. Respecting inflation average wages climbed 11.5% y/y. Average nominal wage advanced 32.4% in state sector and 13.8% in business sector.

Click here for the „Czech economic daily“ in .pdf format.

Radim Krejčí

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