Prime Minister Andrej Babiš confirmed that regions will not receive funds from the State Fund for Transport Infrastructure next year for repairs of lower-class roads. The economy of the European Union grew year-on-year in the second quarter, a result that is also positive for Czech exports. The Prague Stock Exchange starts the new week after a slight loss on Friday.
Prime Minister Andrej Babiš confirmed that regions will not receive funds from the State Fund for Transport Infrastructure next year for repairs of lower-class roads. In a post on the X network, he stated that the regions have enough money in their accounts for repairs from the allocation of taxes from the state budget. Regions have been receiving regular support since 2015, but according to the Prime Minister, this was just an extra. The decision comes at a time when the government is looking for savings in the state budget.
The economy of the European Union grew year-on-year in the second quarter of this year, Eurostat confirmed. This result is positive for the Czech export-oriented economy, whose main trading partners are EU countries, especially Germany. The recovery in demand in European markets could support orders for Czech industry in the third quarter.
The Prague Stock Exchange starts the new week after a quiet end to last week. On Friday, the PX index rose slightly, while CSG arms manufacturers performed significantly better — shares added more than three percent. This week, the markets will be watching macroeconomic data from the United States and developments in the Persian Gulf, which continues to affect energy prices.
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