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Economy / Czech Republic

Czech Republic

November 2010 | Risk Summary

The Czech Senate approved an austerity bill on November 12, following on from its approval in the country's lower house of parliament on November 2. The bill includes welfare cuts and will reduce the cost of the state payroll by 10%, and is aimed at reducing the government's budget deficit (which came in at 6.9% of GDP in 2009). We believe that the Czech Republic, which boasts relatively docile trade unions, will see an increased level of labour unrest over the course of 2011 as the government introduces its austerity programme. State workers will strike on December

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