The standard of living in the Czech Republic has decreased, it is at the level of Slovenia

Bulgaria has the lowest GDP per capita in purchasing power parity, where it reaches 55 percent of the EU average. Conversely, the highest standard of living is in Luxembourg, where it reaches 277 percent of the EU average. After Malta, the Czechia is the second best-built country among those that joined the EU after 2000.

Last year, the Czech economy grew by 3.3 percent. There was thus a recovery after the pandemic slump in 2020, when the economy fell by 5.8 percent due to lockdowns.

The EU as a whole showed even faster growth on average, namely by 5.3 percent of GDP. The fastest growing of the EU countries was Ireland, where GDP increased by 13.5 percent. At the opposite pole of the statistics was Germany, whose economy also strengthened, but only by 2.9 percent.

The CNB has worsened the GDP development estimate, predicting an average inflation of 15.8 percent

Economic

Still the lowest unemployment

Within the EU, the Czechia continues to lead in terms of unemployment, which was the lowest for the sixth year in a row. It maintained its lead even though last year unemployment rose by 0.2 percentage points to 2.8 percent.

Poland had the second lowest unemployment rate last year, at 3.4 percent. The highest unemployment rate was in Spain, where it reached 14.8 percent. The European average was seven percent.

On more than 800 pages, the statistical yearbook provides summary data from the economy, demography and the social sphere in the past year. Since the establishment of the independent state in 1993, this is already the thirtieth edition.

Thanks to the digital economy, the Czechia can increase its GDP by 360 billion crowns

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