Siemens increases its turnover in the Czech Republic

Article Abstract:

Siemens (Germany), electrotechnical concern, saw a turnover of 22 bil Kc in the Czech Republic in the business year 1997/1998, till September 1998. The sum is 23% bigger compared to the same period in 1996/1997. The firm's Czech exports, which represented 42% of the 1997/1998 turnover, generated 9 bil Kc in 1997/1998, 3% more compared to 1996/1997. The company invested a total of 9 bil Kc in the Czech Republic in 1990-1998. About 3.5 bil Kc of the sum was represented by primary investments and more than 4 bil Kc by investments in new production equipment. The firm increased its stake in the electricity conducting cable manufacturer Kabelovna Decin (Decin, Czech Republic) to 67.4% in 1998. Siemens has acquired a 76% stake in Elektro Mar (Ostrava, Czech Republic).

Siemens AG

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Prognoses of 1998 macro-economic indicators in the Czech Republic

Article Abstract:

Czech Republic: According to the Czech Statistical Office (CSO), Gross Domestic Product (GDP) is expected to increase by 1.4% in 1998. GDP increased by 1% in 1997. According to CSO, the inflation rate is estimated at 12.2% in 1998 compared to 8.5% in 1997. CSO expects the unemployment rate to be 6.2% in 1998 compared to 5.2% in 1997. CSO estimates the balance of the current account at -3.2% in 1998 compared to -6.1% in 1997.

Comment:

Czech Rep: Gross Domestic Product is expected to increase by 1.4% in 1998

Czech Republic, Gross Domestic Product, Article

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