The analysis of the macroeconomic reality of the Czech Republic began to be done with scientific rigor from 1994 onwards.
Among the basic missions of the Institute of Statistics we could mention two: the development of operational research programs and the timely interpretation of the basic macroeconomic data requested by our clients.
The Office is not dependent on any Public Administration; it is completely independent.
Statistics and their interpretation play a key role in the New Economy and have experienced significant development in the last ten years in the Czech Republic.
At an aggregate level, and with the exception of the years 1997 to 1999, the Czech economy has grown in annual terms at 4%, well above many countries in the European Union.
The director of the Center for the Development of Statistical Studies told us about the characteristics of the Czech economy.
"As you know, in the period between 97 and 99, the Czech economy suffered a terrible recession that lowered the standard of living of Czech citizens and caused consumption to stagnate, as well as industrial production and the rest of the macroeconomic indicators.
However, it had its positive side, in that it accelerated the privatization of many public companies while also promoting a real restructuring of the entire economy.
Today, almost all major banks are privately owned and have been acquired, in most cases, by European banking institutions, primarily French, German, and Austrian. The most recent acquisition, Banco Comercial, was made by Société Générale in the last week of October of this year, following a dramatic rise in its share price on the Prague Stock Exchange.
However, there are more problematic sectors. Industrial sectors, mining, transportation, etc., have very different problems and sensitivities, which must be taken into account to avoid a social fracture.
– In your opinion, what will be the development of the industrial and service sectors?
The traditional industrial sector has historically been the most important in the Czech Republic. Currently, the manufacturing sector is asserting its presence as a key player in the development of our country.
For its part, the agricultural sector has been harmed by the entry into force of the quota system mandated by the European Union in order to comply with the CAP.
– The public deficit grows every year. How can this problem be addressed?
At this point in the current economic cycle, the deficit is not worrying; in fact, I would even say that it can be tolerated.
Regarding the deficit in the Balance of Payments, one could argue that simply more is being bought than sold, although I believe that this is an overly simplistic argument and does not do justice to the enrichment of relations.
It's a different story in the political arena, where the deficit is a taboo subject.
– It is inevitable that the Czech economy will join the EU. How do you think Spain's EU presidency will affect your country?
They are doing their homework. They are fulfilling all the mandatory requirements, and trade relations with the European Union are already very close.
There won't be any problem.
Czech foreign trade is mostly directed towards the countries closest to us and, in the same way, the investments received by the Czech Republic also come from these countries.
– How do you think the Czech Republic will be socially, politically, and economically in ten years' time?
I have no doubt that in ten years the Czech Republic will be a country with standard democracy, standard market industry, and economic strength on par with any country in the European Union.
– So, do you consider problems like economic crime to be overcome by the next decade?
It is very difficult to find the culprits of this type of crime, especially with the legal vacuum that still exists and it is impossible to apply new laws retroactively, but in this decade it will surely be overcome.
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