Czech govt plans to support businesses hit by coronavirus crisis

Interview

Photo by Alexandros Michailidis/Shutterstock.com

The Czech government is preparing to support Czech businesses hit by the effects of the coronavirus crisis to the tune of up to CZK 1 trillion, Prime Minister Andrej Babiš said on March 18. 

Czech Prime Minister Andrej Babiš. Photo by Alexandros Michailidis/Shutterstock.com

Speaking after a cabinet meeting on Wednesday, Babiš told journalists that figure could include CZK 100 billion (EUR 3.6 bln) in direct aid and CZK 900 bln in guarantees, Czech Radio reported.

He also called on companies not to start firing workers, as labor offices have started to report an influx of new job seekers, mainly from the tourism, hospitality and other service sectors.

The Minister of Industry and Trade, Karel Havlíček, said the government was conducting analyses and that the planned direct aid could go toward compensation for wage payments, remission of levies, financial injections and short-time working, Czech Radio  explained.

ADVERTISEMENT

Business, consumer confidence improves - Századvég Analysis

Business, consumer confidence improves - Századvég

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

Martina Cifer joins Avison Young Hungary Appointments

Martina Cifer joins Avison Young Hungary

BFK developing regional cycling strategy City

BFK developing regional cycling strategy

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.