Czech Republic - Factors To Watch on July 7

                                
 PRAGUE, July 7 (Reuters) - Here are news stories, press
reports and events to watch which may affect Czech financial
markets on Wednesday.
                                
 ALL TIMES GMT (Czech Republic: GMT + 2 hours)

=========================ECONOMIC DATA=========================
                                
 May foreign trade data at 0700 GMT.
                                
 May retail sales data at 0700 GMT.
                                
 Real-time economic data releases....................<ECONCZ>
                                
 Previous stories on Czech data.............[CZ-RTRS-LEN-ECI]
                                
 Overview of economic data and forecasts..........<CZ/ECON15>
                                
 Updates on CEE currencies............................[CEE/]
                                
 
 =============================EVENTS==========================
                                
 PRAGUE -The lower house of parliament to hold a session.
                                
 Related news: [RTRS-LEN-CZ-POL]
                                
 
 ==========================TOP NEWS============================
                                
 FUTURE FINMIN INTERVIEW: The new Czech cabinet will aim to
cut the budget deficit below 3 percent of gross domestic product
in 2012 and put state accounts on track to break even in 2016,
incoming Finance Minister Miroslav Kalousek said on Friday.
                                
 Story: [ID:nLDE6640CI] Related news: [RTRS-LEN-CZ-PLCY]
                                
 
                                
 C.BANK MINUTES: RISKS LOOK BALANCED: The Czech central bank
board agreed last month that risks to its macroeconomic forecast
were broadly balanced although uncertainties were relatively
high, minutes from the June 23 rate setting meeting showed on
Friday.
                                
 Story: [ID:nLDE6610BO] Related news: [RTRS-LEN-CZ-PLCY]
                                
 
                                
 CEE MARKETS: Central European currencies rose on Monday,
boosted by Polish presidential elections raising expectations of
more reforms and an IMF decision to release funds for
recession-hit Romania.
                                
 Story: [ID:nLDE6641FQ] Related news: [RTRS-LEN-CZ-FRX]
=========================PRESS DIGEST==========================
                                
 FINMIN SEES LOWER SOCIAL TAX: The future Finance Minister
Miroslav Kalousek plans to propose cutting the ceiling for the
social security tax to three times the average wage from six
times as of 2012. People can use the extra money to save in
private pension funds. The plan is a response to a
constitutional court ruling which said the Czech redistributive
pension system was unfair because people with high salaries were
receiving inadequately low pensions. To make up for the
shortfall in the budget Kalousek proposes to raise the lower 10
percent VAT rate by "one or two" percentage points.
                                
 Hospodarske Noviny, page 1
                                
 
                                
 CEZ PLANS LAY-OFFS: Czech power group CEZ <CEZPsp.PR> plans
to hundreds or even thousands of employees over the next five
years to cut costs.
                                
 Hospodarske Noviny, page 1
                                
 
                                
 Reuters has not verified the media reports, nor does it
vouch for their accuracy.
                                
 
                                
 For Instant Views of key economic data click on
                                
[CZ/INSTANT]
 For summary of economic data and forecasts          <CZ/ECON01>
 For diary of forthcoming Czech events                [CZ/DIARY]
 For calendar of east European economic indicators  [CONV/DIARY]
 TOP NEWS -- Emerging markets                         [TOP/EMRG]
 TOP NEWS -- Convergence watch                        [TOP/EAST]

 For an economic indicator diary for the euro zone, the United
 States and other Group of Seven countries see         <G7TODAY>

 For real-time stock market index quotes click in brackets:
 Warsaw WIG20 <.WIG20>  Budapest BUX <.BUX>  Prague PX <.PX>

                                
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