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Analyzing the Czech Republic's EU accession.(European Union)

Publication: AgExporter
Publication Date: 01-JUL-04 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
With the collapse of Soviet authority in 1989, Czechoslovakia regained its autonomy through a peaceful change of government, called the "Velvet Revolution," and for a short time was known as the Czech and Slovak Federal Republic. On Jan. 1, 1993, the country underwent a "'Velvet Divorce," it...

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...which separated into two nations, the Czech Republic and Slovakia.

The Economic Basics

One of the most stable and prosperous of the Former Communist states, the Czech Republic has moved toward integration in world markets, a development that poses both opportunities and risks. The EU (European Union) ranked the Czech Republic just behind Poland and Hungary in preparations for accession, giving further impetus and direction to structural reform.

The Czech Republic has been recovering from a recession for the past several years. Economic growth has varied from 3.3 percent in 2000 to 2 percent in 2002, and is projected at 2.8 percent in 2004. Growth has been supported by exports to the EU, primarily to Germany, and a near doubling of foreign direct investment. In addition, domestic demand for consumer goods and services is growing by 3 per cent a year. Inflation is under control.

Moves...

NOTE: All illustrations and photos have been removed from this article.



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