Business Europe: Czech economy deals well with global financial crisis

According to an assessment published by Business Europe, an EU association of employers, the Czech Republic is one of the EU countries that are successful in addressing the challenges posed by the global financial crisis. Business Europe’s assessment suggests that the Czech Republic’s economy is well on the way to catching up with the more advanced EU states. In the area of export, the Czech Republic ranks fourth amongst 29 countries that include EU member states as well as Norway and Switzerland. Among the weak points of the Czech economy, the assessment cited low productivity along with the cost of labor.