Question

1.Describe Economic policy of the Czech Republic and fulfillment of the main goals at present time

3. Describe norminal GDP in the Czech republic in 2018

4. Describe consumption and saving household in the Czech Republic in 2018

Answer 1

1. The economy of Czech Republic is a developed export oriented social market economy which is based in services, manufacturing , and innovation which maintains a high income welfare state and the European social model. Based on the policies of price liberalization, the opening of markets to foreign trade and investment internal convertibility of the country's currency, privatisation of the state owned enterprises, and tax reform the government introduces a program.

The economy of Czech continues to grow based on strong domestic demand , sustained job creation and to the growth of exports and tax revenues. Czech central bank maintained its mildly expansionary policy in 2019 by raising the policy interest rate by a further 0.25% to 2%.Government spending especially on pensions,health and disability benefits continued to rise which weighed on general government balance.

Following are the measures aimed at lowering the environmental burden. Fulfillment of obligations to reduce the production of organic substances which do not degrade easily.Fulfilling international obligations to lowering the emissions of greenhouse gases after ratification of the Kyoto protocol.

3. Gross Domestic Product the value of all goods and services produced in a country during a year.GDP is an important indicator of economic power. In 2018, the GDP of Czech was 24522.59 crores USD.

4. Faster growth in consumption than in savings started to be reflecting in a falling gross saving rate at the end of 2016.In 2018, a survey conducted reveals that households subsequently started to perceive an expected slowdown in economic growth, their motivation to save increased and the gross saving rate recovered back slightly.