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CZECH ECONOMY TEN YEARS AFTER ENTRY INTO THE EUROPEAN UNION
Abstract
On 1st May 2014 we commemorate the tenth anniversary of the entry of the CzechRepublic into the European Union (EU). Benefits which the Czech Republic gained thanks to the EU membership are indisputable. The Czech Republic became a member of an important integral group and integrated so into democratic European countries struggling for meeting their common targets – to support peace, democratic values and high-quality life of their inhabitants - life guaranteed by the dynamic and competitive European economy. The last ten years of the development of European economy document however that the union has subsequently become one of the most stagnant world regions, mainly after the outbreak of an economic and financial crisis in 2008. The situation in the Czech Republic is not so dramatic. On the other hand it isn't possible to abstract from the European context when evaluating it. In context of the above mentioned connections, the target of this paper is to analyse the macroeconomic development after the entry of the Czech Republic into the EU whereas the emphasis is placed on the evaluation of development of key macroeconomic indexes and economic contribution of the Czech Republic to the EU structures. The attention is paid mainly to the analysis of macroeconomic indexes (GDP, price stability, unemployment, public budgets, external economic balance) during the period 2004-2014.
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