PragueConnect.cz - Economy

PragueConnect.cz 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 PragueConnect.cz!

UCB: An end of the Schengen Area would make CR lose CZK 12bn per year

An end of the Schengen Area and resumed border control would mean a slowdown of the movement of goods and thus of competitive ability in export for the Czech Republic. This is according to an analysis by UniCredit Bank Czech Republic and Slovakia (UCB). A decrease in the export of sensitive items by 5 %, among others the food products and non-durable goods, would make the Czech Republic lose 0.25 % of GDP, which represents approximately CZK 12bn per year in the current prices.

Source: www.cianews.cz