Czech Republic
Proposed defence spending hike to 5% of GDP exposes divisions among Nato members
Russia hawks in Poland and the Baltic States are firmly behind plan to increase defence spending to 5% of GDP, while other members question new target.
Czech Supreme Court cancels acquittal of populist leader Babiš in EU subsidy fraud
The Czech Supreme Court in Prague has cancelled the acquittal of Czech populist leader and billionaire ex-Prime Minister Andrej Babiš and his ex-manager and MEP, Jana Nagyová, over the alleged €2mn Stork's Nest subsidy fraud.
Czech cabinet survives no-confidence vote filed over bitcoin scandal
The Czech centre-right cabinet of Prime Minister Petr Fiala survived the no-confidence vote filed by the opposition parties over the scandal involving the bitcoin donation of CZK1bn (€40mn) to the Ministry of Justice from a sentenced drug dealer.
Who hold the most gold reserves?
In 2025, gold prices reached unprecedented levels, with spot gold trading at above $3,932 per troy ounce as of May 7th, an increase of over 83% within just a year.
US resists EU and UK push to cut Russian oil price cap at G7 summit
The US is resisting calls from European governments to reduce the G7 price cap on Russian oil from $60 to $45 per barrel, frustrating efforts by the EU and UK to increase financial pressure on Moscow as leaders meet for a G7 in Canada.
Europe’s defence needs to adapt to different US, Czech President Pavel says
Europe must be able to defend its own interests "without active American support if necessary", Petr Pavel tells the Globsec security forum.
Why South Korea must prioritise bilateral nuclear research over fragmented one-off projects
Should South Korea continue spreading its efforts across short-term, individual projects – often tied to specific, time-consuming contracts – or should it double down on long-term, bilateral nuclear research partnerships?
_1749549064.png)
Czech statisticians refine May inflation to 2.4% y/y
This is slower than the 2.8% y/y flash estimate released last week, but still a 0.6 percentage point acceleration on the 1.8% y/y April easing.
Czech government reiterates domestic suppliers will have 60% share in Dukovany nuclear project
The Czech government reiterated that domestic suppliers will have a 60% share in the CZK407bn (16.4bn) project to construct two new blocks at the Dukovany nuclear power plant.
_1749481569.png)
Czech unemployment eases to 4.2% in May
Czech unemployment level eased slightly by 0.1 percentage point in comparison to April to 4.2% in May (chart), as employers seek workforce for seasonal jobs in tourism and restaurants.
Deloitte EMEA Fast 500 Technology ranking brims with Turkish, CEE and SEE startups
Top entry from Turkey is Novi Robot, a maker of automation systems for manufacturing plants.
_1749390416.png)
Czech industry maintains 2% y/y growth in April
Czech industrial production increased in real terms by 2% year on year and by 0.9% month on month in April (chart), maintaining a modest three-month growth trajectory to which it returned in February. In March industry grew by 1.4% y/y.
Czech finance minister rejects calls for his resignation amid bitcoin scandal embarrassment
The unprecedented scandal has already cost th seat of Stanjura’s ODS party colleague and Minister of Justice Pavel Blažek, after it was revealed that Blažek’s ministry had accepted CZK1bn (€40mn) in bitcoin from a sentenced drug dealer.
Global energy investment to reach a record $3.3 trillion in 2025, but problems with grids remain – IEA
Global energy investment is projected to reach a record $3.3 trillion in 2025, despite continued economic uncertainty and heightened geopolitical risks, according to the International Energy Agency.
_1749051554.png)
Czech inflation accelerates to 2.8% y/y in May, according to flash estimate
Growth of consumer price indices (inflation) accelerated to 2.8% year on year, according to the flash estimate released by the Czech Statistical Office.
Czech Supreme Court lifts blocking of Dukovany nuclear contract
The Czech Supreme Administrative Court has lifted the blocking of the contract between the South Korea Hydro & Nuclear Power and the Czech side for the major €16bn Dukovany nuclear power plant enhancement.
40% of Europe already in a drought before summer gets fully underway
As Europe slides into its third disaster season, 40% of the EU is already officially facing a drought before the hottest months of the year arrive. And this year’s droughts are likely to become even worse than previous heatwaves.
_1748861992.png)
Czech PMI drops to 48 in May, returning to downward trajectory
The Czech manufacturing PMI index compiled monthly by the S&P Global market intelligence company posted 48 in May, in a disappointing drop from 48.9 in April, when PMI posted its highest since 2022, and ended the upward trajectory from recent months.
Czech Justice Minister Blažek resigns after revelations his ministry accepted CZK1bn in bitcoins from drug dealer
Pavel Blažek’s resignation comes just four months before the October elections, which the opposition ANO party is widely expected to win.
_1748604290.png)
Czech GDP increases by 2.2% y/y in Q1 after refinement
Czech statisticians refined the growth of the country’s gross domestic product to 2.2% year on year in the first quarter of this year, which is an improvement on the 2% preliminary estimate from last month.