“We haven’t had a problem with monthly inflation since March, but that doesn’t mean it can’t reappear. The problem is comparing last year to this year,” says chief economist Cyrus Witt Hrad. The Czech economy is very troubled. According to him, the most suffocating thing about the Czech Republic is that people are not spending as much as in the past. How can we help the domestic economy recover from rock bottom? What role does the government and CNB play in this?
You can watch the full interview in the intro video or listen to it on your favorite podcast app. What are its main themes?
0:33-5:25 Why is the Czech economy failing to reach pre-Covid levels, according to economist Vít Hradil? What does he think can help her, and where does he see her greatest weakness?
5:25-8:30 What role does Haradil give politicians in this whole thing, and what should we demand from them?
8:30-11:00 Will joining the eurozone help the economy jump-start? Why does the introduction of the euro seem to have no or minimal effect on the economy?
11:00-15:36 According to the economist, what will dramatically change our standard of living? According to Hradilow, how big a problem is inflation for consumers and why are we looking at its value in the wrong way? Is the government responsible for high inflation – above all previous inflation?
15:36-20:12 Can money be made from inflation? And who did it? Why do Czechs have the biggest drop in real wages in the developed world rankings, and are they willing to work for less money to keep their jobs?
20:12-27:25 How does the Czech Republic compare to other countries in terms of living standards? Should Czechs start spending more – why? And how does the consolidation package of the Petr Fiala government apply to the growth of the economy?