Czech president: will sign bill allowing slower rise in pensions

Czech President Petr Pavel said on Wednesday he would sign a bill slowing down an inflation-linked pension hike, a bill the ruling coalition pushed through to relieve pressure on budget at the time of soaring inflation.

The centre-right government of Prime Minister Petr Fiala has said the bill would save around 20 billion crowns ($879 million) worth of spending in the central budget, currently planned with a 295 billion-crown deficit this year.