Economy

The 20th anniversary of the euro was marked by an increase in price inflation. In the euro area, annual consumer price inflation reached 5% in December 2021. Lithuania recorded the highest rate of 11%.

Czechs have to hold out for one more month. After June 17, 2022, they will start earning for themselves. Until then, for 167 days, they work only for the state. That makes this year one of the least free since the Liberal Institute has been counting Tax Freedom Day since 2000.

On the May 11, Lithuania celebrates The Day of Respect for the Taxpayers. On this occasion, the Lithuanian Free Market Institute (LFMI) stresses that a public sector that serves its citizens and creates value is an expression of respect for taxpayers.

The war in Ukraine will affect Poland\'s socio-economic situation through many channels both in the short and long term. In the near term, we face weakening economic growth and even higher inflation, even double-digit inflation.

The special purpose law on assistance to citizens of Ukraine in connection with the armed conflict on the territory of Ukraine should take into account the demand for recognition of a significant range of professional qualifications acquired in Ukraine.

In response to Russia\'s invasion of Ukraine, the Polish Law and Justice government began to work on creating two new funds in the state-owned Bank Gospodarstwa Krajowego to finance \"systemic aid\" and additional military spending.

The European Union is debating a directive that would place a minimum effective corporate income tax (CIT) of 15 percent on large-scale company groups. The directive is expected to address tax challenges caused by digitalization.

Global markets cannot ignore the impact of losing agricultural supply from Ukraine and Russia, and European agricultural authorities are well aware of the risk.

Last July, the European Commission presented a proposal for a directive aimed at reforming the taxation of energy products and electricity. This proposal is part of the European Union\'s (EU) efforts to reduce emissions and air pollution.

For Slovakia, in particular, as the extremely strong generation of \"Husák\'s children\"* does not have a sufficient population replacement and will start to put a major strain on the health and pension systems in the coming decades.