D Day for Mirek Topolanek and his government. The current ODS Minority Government will ask the Lower House for confidence today. Chances that this government will succeed are not very high.
Budget therapy. Group of advisors of Minister of Finance is proposing another increase of retirement age, lowering of state’s payment for health insurance or introduction of payment for receipt and visit of doctor. Target of these proposed steps is a return to convergence program fulfilment for euro adoption as early as in 2007.
State budget in September returned to moderate surplus of CZK 1.5bn mainly thanks to tax calendar. Income compared with the same period of last year increased by 6.2% while expenses by 10.5%. At the end of last year’s September budget showed surplus of CZK 25.8bn.
Buying managers index in manufacturing industry in the USA (ISM) decreased in September to 52.9 from 54.5 in August and reached its lowest point since last year’s May.