Mediafax (Mediafax)
Macroeconomics  |  June 14, 2012 17:40:05

CSO: Competitiveness CR declined in recent years due to more expensive labor


PRAGUE (MEDIAFAX) - The competitiveness of the Czech economy has fallen over the past 16 years mainly due to more expensive labor, its growth was in the amount of real unit labor costs the highest in the EU. On Thursday, informing the Czech Statistical Office (CSO).

Growth of the Czech economy was based on information from the CSO long term and stable without significant variations both internal and external imbalances, with the exception of the monetary crisis second half of the 90 years. "In recent years the Czech economy but in fact, stopped near the average level of economic and monetary union in Europe, as demonstrated by the performance parameter of GDP per capita in purchasing power parity," the report CSO.

On the one hand, the Czech Republic does not stand poorly in meeting the Maastricht criteria on the persuasiveness have lost competitiveness.

"Adding up the general government debt and debts of households and firms, in 2010 Czech Republic second least indebted countries in the European Union according to the ratio of debt to gross domestic product, which reached 110 percent," says analyst CSO Dubská thesis.

In 2011 the general government deficit improved to 3.1 percent of GDP, which is just above the limit of the Maastricht criteria.

In certain non-price competitive factors, such as shares of university graduates in the population, the proportion of expenditure on R & D to GDP or the rate employed in more sophisticated areas of industry and services, according to the position of the CR Analysis has not changed much.

Data are based on extensive analysis of macroeconomic trends in the economy of the Czech Republic over the past fifteen years.

Jan Soukup, soukupj@mediafax.cz

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