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The Prague Stock Exchange rose by 0.46 percent on Tuesday, driven by financial stocks. Tatra Trucks, a car manufacturer from Kopřivnice, published its annual report, showing an almost tenfold increase in net profit. At the same time, the governing coalition is planning a major change in mortgage tax relief from 2028 – young people under 36 should receive more favorable deductions, while older and wealthier clients may lose part of their tax breaks. The Minister of Finance, Alena Schillerová, wants to present a concrete plan to the government by the end of June.

The Prague Stock Exchange rose again on Tuesday. The PX index increased by 0.46 percent to 2,583.06 points, mainly driven by financial stocks. On the other hand, the shares of the energy company ČEZ slightly weakened. Among smaller companies, Colt CZ, a weapons manufacturer, performed poorly, with its shares falling by four percent. The trading volume was above average.

Tatra Trucks, a car manufacturer from Kopřivnice in the Nový Jičín region, reported a net profit last year, which increased almost tenfold year-on-year – from 19.3 million crowns in the previous year to 185.7 million crowns. Revenue increased by 408.2 million crowns to 10.08 billion crowns, representing an increase of 4.2 percent. The company announced this in its annual report.

The governing coalition is planning a major transformation of state support for mortgages from 2028. Younger people under 36 should receive more favorable tax deductions for mortgage interest payments compared to the current system, while some older and wealthier clients may lose part of their deductions. This was indicated by Prime Minister Andrej Babiš in the Chamber of Deputies at the end of May. The Minister of Finance, Alena Schillerová, wants to present a concrete plan for the changes to the government by the end of June.

Critics of the proposal point out the risk that favoring one group of applicants could have the opposite effect of what the government intends. In a market with a shortage of housing, artificially boosting the purchasing power of younger clients could lead to further increases in property prices, while older clients could lose existing tax breaks worth up to 22,000 crowns per year.

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