- Economy is providing resources for English speaking Business Professionals living in, visiting, or interested in Prague and Czech Republic. Browse our latest Economy articles, if you have interesting content to share with our users, please feel free to contact us anytime to discuss with us possible publication on!

OVM: J. Procházka: EGAP’s 2014 loss at billions of CZK

Last year, Exportní garanční a pojišťovací společnost (EGAP) posted a loss of billions of CZK, EGAP’s CEO Jan Procházka said on Czech Television’s debate, Otázky Václava Moravce (OVM). He added that last year, the company had insured exports worth CZK 47.5bn, down by CZK 16bn compared to 2013. The results reflect mainly the situation in Ukraine and Russia. The interest in Russia has been falling for a long time, Procházka said. The loss also reflected cases from the past. EGAP will cover the loss from its own sources. EGAP has the obligation to have balanced results in a 20-year cycle. The company expects to have balanced results in two to three years, Procházka said.


Sign up for Prague’s hottest newsletters to stay up to date and know what’s going on in town! Prague Daily Monitor: Prague’s # 1 source for Czech news in English… delivered straight to your inbox daily. Sign up for free nowPrague.TV – Living Like a Local: 2x a week, our newsletter keeps you up to date with the HOTTEST and BEST news for Prague's Expats and English Language community. Exclusive price draws & Special partner offers for registered members. Sign up for free now!


Exchange rates
Upcoming Events