Czech trade balance surplused 1.8 bln. CZK in February. The January’s deficit was revised down by 0.5 bln. CZK, from 6.1 bln. CZK to 6.1 bln. CZK. The surplus was reached mainly thanks to substantial cut in imports, -8% year-on-year. Export increased by 0.4%. The import fell as a reason of falling import prices of mineral fuels and surprisingly sharp fall in import of machines and transportation.
The favourable information on foreign trade helped the Czech currency to reach new highs. During Friday’s session the exchange rate jumped to 30.93 CZK/EUR. The apreciation of CZK is supported by information on possibility of Ceska sporitelna shares buyout and issue of CZK denominated ECB’s bonds as well.
Poland succeeds in negotiations with EU, there will be 12-year term in which sale of agricultural land to foreigners will be embargoed after Poland joins EU. In the Czech republic the liberalisation of trade with agricultural land will be delayed by 7 years. Though worse conditions, the Czechs should not open the Chapter, said vicepremier Vladimir Spidla.
The Chamber of Deputies raised the limit for compensation to clients of bankrupt credit unions on Friday. The clients will be compensated with 90% of their deposit, 400 000 CZK at maximum. The compensation was raised from 80% of deposit and 100 000 CZK at maximum. The decision of the Parliament will reduce state budget by 1.2 bln. CZK.
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