Compare Czech Republic (2008) - Czech Republic (2007)

Compare Czech Republic (2008) z Czech Republic (2007)

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	Czech Republic (2008)	Czech Republic (2007)

Budget	revenues: $69.49 billion expenditures: $75.8 billion (2007 est.)	revenues: $56.31 billion expenditures: $62.57 billion (2006 est.)
Debt - external	$61.74 billion (30 June 2007)	$55.47 billion (2006 est.)
Economy - overview	The Czech Republic is one of the most stable and prosperous of the post-Communist states of Central and Eastern Europe. Growth in 2000-07 was supported by exports to the EU, primarily to Germany, and a strong recovery of foreign and domestic investment. Domestic demand is playing an ever more important role in underpinning growth as the availability of credit cards and mortgages increases. The current account deficit has declined to around 3.3% of GDP as demand for automotive and other products from the Czech Republic remains strong in the European Union. Rising inflation from higher food and energy prices are a risk to balanced economic growth. Significant increases in social spending in the run-up to June 2006 elections prevented, the government from meeting its goal of reducing its budget deficit to 3% of GDP in 2007. Negotiations on pension and additional healthcare reforms are continuing without clear prospects for agreement and implementation. Intensified restructuring among large enterprises, improvements in the financial sector, and effective use of available EU funds should strengthen output growth. The pro-business Civic Democratic Party-led government approved reforms in 2007 designed to cut spending on some social welfare benefits and reform the tax system with the aim of eventually reducing the budget deficit to 2.3% of GDP by 2010. Parliamentary approval for any additional reforms could prove difficult, however, because of the parliament's even split. The government withdrew a 2010 target date for euro adoption and instead aims to meet the eurozone criteria around 2012.	The Czech Republic is one of the most stable and prosperous of the post-Communist states of Central and Eastern Europe. Growth in 2000-05 was supported by exports to the EU, primarily to Germany, and a strong recovery of foreign and domestic investment. Domestic demand is playing an ever more important role in underpinning growth as interest rates drop and the availability of credit cards and mortgages increases. The current account deficit has declined to around 3% of GDP as demand for Czech products in the European Union has increased. Inflation is under control. Recent accession to the EU gives further impetus and direction to structural reform. In early 2004, the government passed increases in the Value Added Tax (VAT) and tightened eligibility for social benefits with the intention to bring the public finance gap down to 4% of GDP by 2006. However, due to significant increases in social spending in the run-up to June 2006 elections, the government is not likely to meet this goal. Negotiations on pension and healthcare reforms are continuing without clear prospects for agreement and implementation. Privatization of the state-owned telecommunications firm Cesky Telecom took place in 2005. Intensified restructuring among large enterprises, improvements in the financial sector, and effective use of available EU funds should strengthen output growth.
Exchange rates	koruny per US dollar - 20.53 (2007), 22.596 (2006), 23.957 (2005), 25.7 (2004), 28.209 (2003)	koruny per US dollar - 22.596 (2006), 23.957 (2005), 25.7 (2004), 28.209 (2003), 32.739 (2002)
Executive branch	chief of state: President Vaclav KLAUS (since 7 March 2003) head of government: Prime Minister Mirek TOPOLANEK (since 9 January 2007); Deputy Prime Ministers Petr NECAS (since 9 January 2007), Martin BURSIK (since 9 January 2007), and Alexandr VONDRA (since 9 January 2007) cabinet: Cabinet appointed by the president on the recommendation of the prime minister elections: president elected by Parliament for a five-year term (eligible for a second term); last successful election held 15 February 2008 (after earlier elections held 8 and 9 February 2008 were inconclusive; next election to be held in February 2013); prime minister appointed by the president election results: Vaclav KLAUS reelected president on 15 February 2008; Vaclav KLAUS 141 votes, Jan SVEJNAR 111 votes (third round; combined votes of both chambers of parliament)	chief of state: President Vaclav KLAUS (since 7 March 2003) head of government: Prime Minister Mirek TOPOLANEK (since 9 January 2007); Deputy Prime Ministers Petr NECAS (since 9 January 2007), Jiri CUNEK (since 9 January 2007), Martin BURSIK (since 9 January 2007), and Alexandr VONDRA (since 9 January 2007) cabinet: Cabinet appointed by the president on the recommendation of the prime minister elections: president elected by Parliament for a five-year term (eligible for a second term); last successful election held 28 February 2003 (after earlier elections held 15 and 24 January 2003 were inconclusive; next election to be held in January 2008); prime minister appointed by the president election results: Vaclav KLAUS elected president on 28 February 2003; Vaclav KLAUS 142 votes, Jan SOKOL 124 votes (third round; combined votes of both chambers of parliament)
Exports - partners	Germany 32%, Slovakia 8.5%, Poland 5.7%, France 5.5%, Austria 5.1%, UK 4.8%, Italy 4.6% (2006)	Germany 31.9%, Slovakia 8.5%, Poland 5.7%, France 5.6%, Austria 5.1%, UK 4.8%, Italy 4.6% (2006)
Flag description	two equal horizontal bands of white (top) and red with a blue isosceles triangle based on the hoist side note: identical to the flag of the former Czechoslovakia	two equal horizontal bands of white (top) and red with a blue isosceles triangle based on the hoist side (identical to the flag of the former Czechoslovakia)
GDP - composition by sector	agriculture: 2.4% industry: 39.7% services: 57.9% (2007 est.)	agriculture: 2.7% industry: 39.1% services: 58.2% (2006 est.)
GDP - real growth rate	5.7% (2007 est.)	6.4% (2006 est.)
Imports - partners	Germany 32.5%, Netherlands 6.8%, Slovakia 6.2%, Poland 6.1%, Russia 5.7%, Austria 5%, Italy 4.4%, France 4.3% (2006)	Germany 32%, Netherlands 6.5%, Slovakia 6.1%, Poland 6.1%, Russia 5.7%, Austria 4.9%, Italy 4.4%, France 4.4% (2006)
Industrial production growth rate	9% (2007 est.)	9.5% (2006 est.)
Inflation rate (consumer prices)	2.6% (2007 est.)	2.5% (2006 est.)
International organization participation	ACCT (observer), Australia Group, BIS, BSEC (observer), CE, CEI, CERN, EAPC, EBRD, EIB, ESA (cooperating state), EU, FAO, IAEA, IBRD, ICAO, ICC, ICCt (signatory), ICRM, IDA, IEA, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, NAM (guest), NATO, NEA, NSG, OAS (observer), OECD, OIF (observer), OPCW, OSCE, PCA, Schengen Convention, UN, UNCTAD, UNESCO, UNIDO, UNMEE, UNMIL, UNOMIG, UNWTO, UPU, WCL, WCO, WEU (associate), WFTU, WHO, WIPO, WMO, WTO, ZC	ACCT (observer), Australia Group, BIS, BSEC (observer), CE, CEI, CERN, EAPC, EBRD, EIB, ESA (cooperating state), EU, FAO, IAEA, IBRD, ICAO, ICC, ICCt (signatory), ICRM, IDA, IEA, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MONUC, NAM (guest), NATO, NEA, NSG, OAS (observer), OECD, OIF (observer), OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UNIDO, UNITAR, UNMEE, UNMIL, UNOMIG, UNWTO, UPU, WCL, WCO, WEU (associate), WFTU, WHO, WIPO, WMO, WTO, ZC
Labor force	5.35 million (2007 est.)	5.334 million (2006 est.)
Legislative branch	bicameral Parliament or Parlament consists of the Senate or Senat (81 seats; members are elected by popular vote to serve six-year terms; one-third elected every two years) and the Chamber of Deputies or Poslanecka Snemovna (200 seats; members are elected by popular vote to serve four-year terms) elections: Senate - last held in two rounds 20-21 and 27-28 October 2006 (next to be held in October 2008); Chamber of Deputies - last held 2-3 June 2006 (next to be held by June 2010) election results: Senate - percent of vote by party - NA; seats by party - ODS 41, CSSD 12, KDU-CSL 11, others 15, independents 2; Chamber of Deputies - percent of vote by party - ODS 35.4%, CSSD 32.3%, KSCM 12.8%, KDU-CSL 7.2%, Greens 6.3%, other 6%; seats by party - ODS 81, CSSD 74, KSCM 26, KDU-CSL 13, Greens 6; note - seats by party as of December 2007 - ODS 81, CSSD 72, KSCM 26, KDU-CSL 13, Greens 6, unaffiliated 2 (former CSSD members)	bicameral Parliament or Parlament consists of the Senate or Senat (81 seats; members are elected by popular vote to serve six-year terms; one-third elected every two years) and the Chamber of Deputies or Poslanecka Snemovna (200 seats; members are elected by popular vote to serve four-year terms) elections: Senate - last held in two rounds 20-21 and 27-28 October 2006 (next to be held in October 2008); Chamber of Deputies - last held 2-3 June 2006 (next to be held by June 2010) election results: Senate - percent of vote by party - NA; seats by party - ODS 41, CSSD 12, KDU-CSL 11, others 15, independents 2; Chamber of Deputies - percent of vote by party - ODS 35.4%, CSSD 32.3%, KSCM 12.8%, KDU-CSL 7.2%, Greens 6.3%, other 6%; seats by party - ODS 81, CSSD 74, KSCM 26, KDU-CSL 13, Greens 6
Military expenditures - percent of GDP	1.46% (2007 est.)	1.81% (2005 est.)
Pipelines	gas 7,010 km; oil 547 km; refined products 94 km (2007)	gas 7,010 km; oil 547 km; refined products 94 km (2006)
Political parties and leaders	Association of Independent Candidates-European Democrats or SNK-ED [Helmut DOHNALEK]; Christian Democratic Union-Czechoslovak People's Party or KDU-CSL [Jiri CUNEK]; Civic Democratic Party or ODS [Mirek TOPOLANEK]; Communist Party of Bohemia and Moravia or KSCM [Vojtech FILIP]; Czech Social Democratic Party or CSSD [Jiri PAROUBEK]; Union of Freedom-Democratic Union or US-DEU [Jan CERNY]; Green Party [Martin BURSIK]; Independent Democrats (NEZDEM) [Vladimir ZELEZNY]; Party of Open Society (SOS) [Pavel NOVACEK]; Path of Change [Jiri LOBKOWITZ]	Association of Independent Candidates-European Democrats or SNK-ED [Jana HYBASKOVA]; Christian Democratic Union-Czechoslovak People's Party or KDU-CSL [Jiri CUNEK]; Civic Democratic Alliance or ODA [Jirina NOVAKOVA]; Civic Democratic Party or ODS [Mirek TOPOLANEK]; Communist Party of Bohemia and Moravia or KSCM [Vojtech FILIP]; Czech Social Democratic Party or CSSD [Jiri PAROUBEK]; Freedom Union-Democratic Union or US-DEU [Jan HADRAVA]; Green Party [Martin BURSIK]; Independent Democrats (NEZDEM) [Vladimir ZELEZNY]; Party of Open Society (SOS) [Pavel NOVACEK]; Path of Change [Jiri LOBKOWITZ]
Unemployment rate	6.6% (2007 est.)	8.4% (2006 est.)

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