Economy - The Czech Republic

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11640%2F19%3A00582623" target="_blank" >RIV/00216208:11640/19:00582623 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Economy - The Czech Republic
Original language description
Since the Czech Republic’s entry to the European Union (EU) in 2004, the country’s economy has experienced an increasing trend in convergence towards its Western counterparts. However, the global financial and economic crisis that commenced in 2008 affected the process to a greater extent than was the case in other countries in the Central and Eastern European region, and only limited growth in Czech gross domestic product (GDP) was recorded during 2008–13. Thereafter, the Czech economy started to recover quickly, and in 2017 GDP per head, measured in purchasing power standard terms, reached 89% of the EU average and 83% of the Organisation for Economic Co-operation and Development (OECD) average (according to Eurostat figures). Since 2015, the country has demonstrated one of the best economic performances among the EU countries, characterized by strong economic growth, low unemployment rates, the expansion of exports and a decline in government debt. According to the World Bank, the Czech economy grew by 2.5%, by 4.4% and by 2.9% in 2016, 2017 and 2018, respectively. Furthermore, government and European Commission economic forecasts suggest that the trend of sustained growth will continue in 2019–20.
Czech name
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Czech description
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Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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