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Czech Watch - 13 March 2002

13.3.2002 9:42

Hurry to gas stations! According to RR-Auto agency, gas distributing companies will upgrade fuelling by 0.6 to 1 CZK per liter. And the reason? Increase in wholesale prices of fuelling. The price of unleaded gas with octan number 95 rose almost 18% at Rotterdam Exchange in last month.

Re-elected secretary-general of Prague Stock Exchange Pavel Hollmann said yesterday, that he would be focused on reduction in costs connected with securities trading and he would do his best to expand trading in derivatives.

Following the information of Ministry of Finance, the Czech Republic has paid 1.060 bln. CZK for the membership in NATO. This year’s contribution to the NATO’s budget amounts 633 ml. CZK.

GDP in EU fell 0.1% in 4th quarter 2001 in comparison with foregone three terms. The EU’s economy kept its growth on 0.8% level (y-o-y). Eurozone’s GDP contracted 0.2% (q-o-q) but rose 0.6% y-o-y. The reason for the first contraction of eurozone’s economy in past ten years was fall in investments (-0.8%). Consumption of households rose by 0.1%, export decreased by 0.9%, import fell by 1.1%.

In Hungary, consumer prices grew by 1.0% in February, year on year rate of inflation fell to 6.2% from 6.6% reached in January. The most increased prices were those of alcoholic beverages, tobacco and food. On the other hand, prices of wearables and foot-wear continued falling.

Retail boom in Slovakia continues. Slovakia’s retail sales in constant prices jumped by 10% in January (y-o-y). Retail sales were 12.4% up in December.

In France, CPI grew by 0.2% in February, year on year inflation rate fell to 2.3% from 2.4% in January. Germany’s inflation was confirmed at 0.3% in February, year on year prices are 1.7% higher.

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

David Marek

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