The numbers are in and according to Minister of Finance Alena Schillerová, the Czech Republic ran a deficit of CZK 367 billion for 2020, dwarfing 2009’s deficit of CZK 192 billion, making it the worst deficit in the country’s history by a long shot.  As rough as it is, this deficit is actually lower than what was expected; Originally, the Chamber of Deputies had signed off on allowing for a CZK 500 billion deficit. Schillerová explained that there was CZK 110.7 billion extra in unexpected revenues to pad the losses. Roughly half of the unexpected revenue came from taxes, and CZK 26 billion came from the European Union.  Overall, the total state budget revenues fell by CZK 47.7 billion, andRead more.

via Facebook / Revolut

Launched in July 2015, the Revolut project imagines a world with free international money transfers, no-fee global ATM withdrawals, and free currency exchanges at fixed interbank rates. Sound too good to be true? Revolut is an app-based alternative to a traditional banking account that works in a deceptively simple manner. Users can download the app (available via Google Play and iTunes Store), and add funds into their Revolut account via a debit card payment. From there, they can freely send and receive money from 26 currencies throughout Europe at fixed interbank rates, with no commissions or fees. And with a Revolut MasterCard, which will ship to the Czech Republic for 6 Euro, Revolut users can make in-person payments and ATMRead more.

As an example of mortgage costs, our mortgage broker has offered up the following financial example: For a CZK 2,000,000 loan, the monthly payment over 30 years is around 7,500 CZK / month. The required deposit is 10% LTV (Loan to Value). Rates for higher deposits can, of course, be discussed. If this has you thinking, drop us a note using the form on this page, and we’ll get in touch. Why RENT?  BUY! The interest rate offered would be advised at the time of application. These rates are illustrative only. No related posts.Read more.