Exporters Unhappy With Strong Koruna

The president of the Czech exporters association, Jiri Grunda, stated that exporters have lost 25 percent of their income due to the Koruna.

Jiri Grunda thinks that exporters could have great benefits from speeding up process of implementing the euro as a national currency, however that could only happen in five or six years time, written by bankamagazine.hr.

Czech companies exported goods worth 76 billion euros, which is 14.6 percent more than a year earlier.

Concern for rising electricity prices

Czech economists are concerned about the rising price of electricity, which has risen by 15 percent in the last three years. The government is the owner of CEZ, the largest electricity producer in the country. The minister of industry and trade, Grund thinks that the government should stop the inadequate growth of prices or the competitiveness of local electricity producers may be compromised.