Economics

Virus Helps Czech Billionaire Leader Go on a Spending Spree

State plans record investment program to help economy recover
A large part of capital spending will go to roads and railways

Andrej Babis, Czech Republic's prime minister, speaks during an interview in his office in Prague, Czech Republic, on Monday, July 22, 2019. Babis said he would try to avoid early elections should his junior partner leave the government because of a dispute about replacing one of its cabinet members.Photographer: Bartek Sadowski/Bloomberg

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By Peter Laca and Krystof Chamonikolas

July 8, 2020 at 4:48 PM UTC

Updated on

July 9, 2020 at 7:05 AM UTC

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The Czech Republic’s billionaire prime minister is turning the coronavirus crisis into an opportunity to roll out an investment firehose he’s been dreaming about since taking power.

Andrej Babis has overseen one of Europe’s most successful campaigns to overcome the initial wave of Covid-19. Now he’s trying to pull the economy out of recession before the economic fallout risks undermining his popularity before 2021 elections.