Prime Minister: Economic growth needs to be revived without fiscal stimuli

The premier presented the Czech Republic's stance toward the banking union. Also discussed at the meeting was the multiannual financial framework for 2014-2020, an issue debated at an assembly of the European Council held in Brussels at the end of last week, where no agreement was reached. According to Nečas, the Czech Republic does not regard the failure of the November talks as a serious problem, but it prefers a quick solution because postponing the final approval of the multiannual financial framework could complicate the legislative approval process, cohesion laws in particular.

Organized by the Cypriot Ambassador, Phaedon Anastasiou, issues discussed at today’s meeting also included the Czech national budget. Nečas said that the Czech Republic must now focus on reviving economic growth without fiscal stimuli. The prime minister informed the present ambassadors that next year's budget deficit will amount to 2.9% of gross domestic product and mentioned that the Czech Republic currently has the seventh-lowest unemployment rate in the EU.