Latest news with #ZbynekStanjura
The Star
a day ago
- Business
- The Star
U.S. tariffs would slow Czech economic growth by 0.4 pp in 2025: ministry
PRAGUE, July 14 (Xinhua) -- A 30-percent tariff imposed by the United States on imports from the European Union (EU) could slow Czech economic growth by 0.4 percentage points from August this year and by 1.1 percentage points in 2026, the Ministry of Finance said on Monday. Economic growth would thus reach 1.6 percent this year, and 1.3 percent in 2026, according to an estimate by the ministry. U.S. President Donald Trump announced on Saturday that his country will impose a 30-percent tariff on imports of goods from the EU as of Aug. 1. According to Finance Minister Zbynek Stanjura, exports to the United States account for less than 3 percent of the Czech Republic's total exports. However, the country would also be indirectly affected through its European partners who purchase Czech goods and components. "Up to 20 percent of EU exports head to the United States annually, and demand for these exports would decline due to the price increase after the tariffs are introduced," Stanjura said on social media platform X. "The negative impact of the tariffs will certainly not be immediate, and there is still room for European leaders to find a solution with the U.S. administration that avoids a lose-lose outcome like a trade war," he added. Czech Prime Minister Petr Fiala told reporters on Monday that the impact of tariffs on the Czech economy could be several tenths of a percent of gross domestic product, depending on their specific form.
Reuters
24-04-2025
- Business
- Reuters
Czechs clear to sign $18 billion nuclear power deal after EDF appeals rejected
PRAGUE, April 24 (Reuters) - The Czech Republic's competition authority UOHS said on Thursday it had rejected French group EDF's appeals against the country's multi-billion dollar tender for new nuclear power units in which it lost out to South Korea's KHNP. The rejection clears the way for KHNP, the Czech government and majority state-owned utility CEZ ( opens new tab to sign contracts worth at least 400 billion crowns ($18.22 billion), plus expected inflation. The competition authority's decision confirms an earlier verdict that EDF had appealed. "There is nothing at this point that prevents (CEZ subsidiary) EDU II from concluding a contract with the preferred bidder KHNP," Chair of the competition authority Petr Mlsna told a news conference. He said the decision invalidated an injunction that had prohibited any contracts being concluded. Earlier this month, Czech Finance Minister Zbynek Stanjura said he expected contracts would be signed this quarter. The 70% state-owned CEZ plans two 1,000-megawatt units at it Dukovany nuclear power plant in what will be country's largest energy investment to date. CEZ and the government chose KHNP over EDF in July 2024 to build the new units, leaving the option open for further units later.
Reuters
10-04-2025
- Business
- Reuters
Czechs to sign contract with KHNP on nuclear plant this quarter
PRAGUE, April 10 (Reuters) - The Czech Republic's majority state-owned power company CEZ ( opens new tab will sign a contract with South Korea's KHNP on building two new 1,000-megawatt units at the Dukovany nuclear power plant this quarter, Finance Minister Zbynek Stanjura said on Thursday. The contract, expected to be worth at least 400 billion crowns ($17.56 billion), was originally due to be signed by March but has been subject to the finalisation of details and some uncertainty due to a complaint by losing bidder EdF, along with political turmoil in South Korea and pressure by Czech firms over the level of localisation in the Czech Republic. "I cannot tell you but I already know the date, so it is not fiction... it will certainly be in this quarter," Stanjura told reporters. ($1 = 22.7730 Czech crowns)
Bloomberg
30-01-2025
- Business
- Bloomberg
Czech Finance Minister Warns Against Adding Bitcoin to Reserves
Czech Finance Minister Zbynek Stanjura warned against the central bank governor's proposal to consider investing part of the country's foreign-currency reserves in bitcoin. Stanjura said he respected the Czech National Bank's independence and made clear that the government couldn't interfere in the monetary authority's decisions. Still, he expressed concern that the cryptocurrency might be unsuitable for reserve holdings because of its excessive volatility.
