The annual inflation rate at the end of May stood at 10.2 per cent according to Czech National Bank figures. May inflation was a creditable 0.4 per cent, less than half April's figure of 1 per cent. Initial reports suggested that the June figure had jumped back up to 1 per cent. Unemployment also continued its steady downward trend in May, dropping from April's 2.9 per cent to 2.8 per cent, with 143,200 registered unemployed. A survey of bankrupt enterprises carried out in May showed a 100 per cent annual increase in the number of bankruptcies.
Financial institutions form the largest group of creditors and petitioners.
In the first quarter of 1995, 17.8 million foreign visitors arrived in the Czech Republic, an increase of 8.4 per cent compared to 1994. Issuers now have to apply to enter the primary and secondary markets. The criteria for issue acceptance on the primary market will demand that the publicly tradeable proportion of the issue accounts for at least 20 per cent of the entire issue, that basic assets total at least 15 per cent of the whole issue and that economic information be provided on at least a quarterly basis. Prague's Atrium Hotel is now the Hilton. The international hotel group took over the hotel's management on 1 July 1995.