European Data Portal: Czech Republic has ninth most advanced economy in EU

The Czech Republic is the ninth most advanced economy in the European Union and tops the ladder of the countries of the former Eastern bloc, according to a Prosperity Index compiled by the European Data Portal and Česká spořitelna . The economic level measured by gross domestic product (GDP) per capita is higher in the Czech Republic than in Italy, Spain or Portugal. However, economists point out that since 2008 the pace of catching up with the top-level Western economies has slowed significantly and the Czech economy is nearing its limits due to under-investment, a tight labor market and the structure of the economy.