Czech news for Feb. 28: Czech crown within touching distance of record high

The top headlines in brief for the Czech Republic on Tuesday, Feb. 28, 2023. Staff ČTK

Written by StaffČTK Published on 28.02.2023 10:15:00 (updated on 28.02.2023) Reading time: 4 minutes

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DIPLOMACY Lipavský condemns China during India visit

During his visit to India, Czech Foreign Minister Jan Lipavský today met Tibetans who had been exiled from China. He commented that Beijing had been suppressing the local people, language, and culture of Tibet, which lies on the northern side of the Himalayas and is an autonomous region of China. Lipavský also condemned China’s aggressive actions on the northern borders of India. The Czech foreign minister told journalists that containing China was “the biggest challenge” in the Pacific. He called on India to cooperate with Czechia in managing future threats.

INAUGRATION Czech Philharmonic to perform at presidential inauguration

President-elect Petr Pavel’s inauguration will be rounded off with a concert by the Czech Philharmonic orchestra (ČF) and Prague Philharmonic choir, according to ČF spokesperson Luděk Březina. The two groups will play three symbolic pieces: the “Meditation on the Old Czech Hymn Saint Wenceslas,” by composer Josef Suk, a part of the “Saint Ludmila” oratorio by Antonín Dvořák, and Te Deum (also composed by Dvořák). Well-known soprano Kateřina Kněžíková will be the singer on the night.

UKRAINE Tens of thousands of Ukrainian children parentless in Czechia

Government human rights commissioner Klára Šimáčková announced today that about 30,000 children from Ukraine without parents or guardians are presently in the Czech Republic. The majority of them live in special-purpose children’s homes or orphanages.


Šimáčková said that the government should take care of unaccompanied children – many of whom are over the age of 15 and fled Ukraine on their own. A survey last year from PAQ Research found that less than half (46 percent) of Ukrainian youths living in Czecha attended secondary schools since their arrival.

CURRENCY Czech crown surges against the euro

The Czech crown is continuing its strong rally against the euro, reaching – at the time of writing – its strongest value against the European currency since early July 2008. As at 5 p.m. Tuesday, it traded at about CZK 23.4: EUR 1.

The crown’s status as a safe-haven currency for global investors – combined with the Czech Central Bank using its foreign-exchange reserves – has helped (partially) contain inflation by making imported goods cheaper. The strongest the crown has ever been against the euro was in mid-July 2008, when it traded at CZK 22.9: EUR 1.

ECONOMY Producer prices continue to rise in Czechia

Data published today by the Czech Statistical Office shows that producer prices continued to rise by tens of percent year on year last month. In agriculture, prices rose by over 25 percent, industry prices jumped almost one-fifth, and construction went up 11 percent. This was reflected in January food costs – potato prices increased by 43 percent and eggs by almost 83 percent. Year-on-year inflation in Czechia was at 17.5 percent in January. February inflation figures will be released in a little over a week.

PENSIONS Czech government to revisit pension controversy today

The Chamber of Deputies will meet today to discuss the proposal to reevaluate pension valuation. With the de facto retirement age set to increase, the average monthly pension from June is set to rise by just CZK 760, instead of the previously expected CZK 1,770. The new pension law would save the state CZK 20 billion. The opposition ANO movement said the government was “robbing” pensioners.

PRAGUE Tram reconstruction continues to disrupt Malá Strana

The Prague Public Transit Company (DPP) will start today the third stage of its reconstruction project of a tram line in Malá Strana. Work is currently ahead of schedule. All alternative transport lines remain, including the replacement bus service X20 on the route that runs through Malostranské náměstí and Malostranská. Trams presently do not run between Újezd and Malá Strana. Work is set to finish by the end of March.

ENERGY Czechs may get shared energy network

A new proposal would allow Czechs to share locally produced energy from renewable sources via a distribution network among members of a so-called energy community. The plan would enable sharing between households, communities, schools, offices, and businesses. If passed by the government, the law would be implemented at the beginning of 2024. This move comes as part of the government’s drive for more environmentally friendly energy production.

CONSTRUCTION Ostrava seeks architect to build Czechia's tallest building

The Czech Republic could soon have its tallest building – though who will construct it, and what exactly it will look like remains uncertain. The Ostrava local government announced this week that it has launched a bidding process for the conceptualization and construction of the new installation. The winner will be announced in June 2024. The building will house residential space and offices, as well as hundreds of parking spaces.


A lot of things happened in Czechia's business sphere in the past seven days. Check out our handy round-up here!

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