The Transformation of the Czech Economy - Present and Future Developments

This paper presents the most important results of the report Czech Republic in 2005: Economic Scenario which was elaborated within the framework of the project „Central and Eastern Europe in 2005 “ sponsored by the EC Commission (DG 12). An analysis of present macroeconomic and microeconomic conditions and the main problems experienced by the Czech economy during the initial phases of its transformation are presented and a tentative forecast of possible development until 2005 outlined. The main macroeconomic trends in GDP, employment and unemployment, inflation and external relations are described and the state of microeconomic restructuring (property rights change, financial and real) is evaluated. Microeconomic restructuring is considered to be unsatisfactory in some important areas, thus creating barriers for further sustainable development. The forecasts are based on overcoming these barriers and are connected with policy recommendations. Czech Sociological Review, 1994, Vol. 2 (No. 1: 35-51)

Czech · Economic system · Economics · Political science · Transformation (genetics · Chemistry · Philosophy · Regional Development and Policy