Living standards in CR fall in comparison with EU average - CSU


28.08.2014 11:33

Prague - Living standards in the Czech Republic fell in comparison with the original 15 euro zone countries last year, as Czech per capita GDP dropped from 75 to 74.1 percent of the euro zone's average, the Czech Statistical Office (CSU) said today.


Obchodní a zábavní centrum. Ilustrační foto. ČTK Zavoral Libor, ČTK

The figure has been at 75 percent for the previous three years.

Along with the ongoing unfavourable economic development, Czech households recorded the third consecutive decrease in net incomes last year.

"In 2011 households' incomes fell by 0.7 percent in real terms, the following year by 1.3 percent and in 2013 by 3.1 percent," CSU analyst Lukas Kucera said.

According to Drahomira Dubska of the CSU, the continuing economic recession did not, however, deviate the economy markedly as the deficit of public institutions improved significantly to 1.5 percent of GDP.

In comparison with the average of the entire European Union (EU), living standards in the Czech Republic decreased to 80 percent from 81 percent in the previous three years. In 2003 the figure stood at 77 percent.

The neighbouring Slovakia recorded an increase from 55 percent in 2003 to 76 percent last year, the CSU noted.

According to the Finance Ministry's estimates released in July, living standards in the Czech Republic are expected to grow moderately this year. Per capita GDP should reach 75 percent of the euro zone's average, compared with 73 percent last year. The ministry's data are nevertheless based on comparison with the original 12 EU member countries.

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