Czechs may reach West European levels of prosperity within a decade

24-04-2008

Czechs could catch up with West European levels of prosperity within a decade if strong economic growth continues, the OECD (Organization for Economic Cooperation and Development) said in a report assessing the country’s progress on Thursday. Assuming real GDP-per capita growth of 2.0 percent in the euro area and 5.0 percent in the Czech Republic, the gap could close within a decade," the report said. Czech gross domestic product per person is currently about 75 percent of the euro-zone based on a comparison of the goods and services that can be purchased locally.