OECD: Czech economy on track for strong growth but needs reforms

The OECD has also said that the Czech economy will continue to grow and the country is on track to join the eurozone by 2010 but it must not neglect fiscal and pension reforms. The organisation presented an economic survey of the country on Thursday which said the budget and overall deficit was kept in check last year owing to stronger than expected revenues on the back of economic growth of 6 percent in 2005 and deferred spending. But the report says real steps have not been taken to tackle the overall level of government spending.