He who digs a hole for someone will fall in it himself.
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OVERVIEW: CZECH REPUBLIC
The resulting political uncertainty did little for an export-driven economy that has been slow to recover from the ravages of the global financial crisis and the ensuing sovereign debt crisis in the euro-zone that it precipitated. Worse, still, with local regulators fining the government procurement office for wrongdoing in the execution of contracts associated with the Czech Republic’s 2009 term as European Union (EU) president, the prospect of reduced levels of aid from Brussels loomed as the Group of 28 worked to finalise its structural funding programme for the coming six years.
Such was the disgust among the electorate that parliamentary elections held in late-October 2013 proved so divided as to cast a resurgent Komunistická Strana Čech a Moravy (KSČM) (Communist Party of Bohemia and Moravia) in the role of potential kingmaker. This as rivals in the Česká Strana Sociálně Demokratická (ČSSD) (Czech Social Democratic Party) that emerged as the leading vote-getter engaged in still more backroom back-stabbing for control in the days following the vote.
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PROFILE: CZECH REPUBLIC
- Political structure
- Main cities
- Languages spoken
- Industry and manufacturing
- Financial markets
- Banking and insurance
- Dress codes
- Entry requirements
- Health (for visitors)
- Credit cards
- Public holidays
- Working hours
- Social customs and useful tips
- Getting there
- Getting about
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Official name: Ceská Republika (Czech Republic)
Head of State: President Miloš Zeman (Strana Práv Obcanu-Zemanovci (SPOZ) (Party of Civic Rights-Zeman's people) (elected 26 January 2013, inaugurated 8 March 2013).
Head of government: Prime Minister Bohuslav Sobotka (CSSD) (since 17 January 2014).
Ruling party: Coalition of Ceská Strana Sociálne Demokratická (CSSD) (Czech Social Democratic Party), Akce Nespokojených Obcanu (ANO) (Action of Dissatisfied Citizens) and Krestanská a Demokratická Unie–Ceskoslovenská Strana Lidová (KDU–CSL) (Christian and Democratic Union–Czechoslovak People's Party) (from Jan 2014)
Area: 78,864 square km
Population: 10.51 million (2014)*
Official language: Czech
Currency: Czech koruna (Kc) = 100 hellers
Exchange rate: Kc24.19 per US$ (Sep 2015)
GDP per capita: US$19,563 (2014)*
GDP real growth: 2.02% (2014)*
GDP: US$205.66 billion (2014)
Labour force: 5.43 million (2011)
Unemployment: 6.10% (2014)*
Inflation: 0.35% (2014)
Balance of trade: US$11.63 billion (2014)
* estimated figure