Average Czech Income Quadrupled
In the first year as an independent state, 1993, the average monthly household income was 3,751 crowns while in 2011 it had risen to 12,902 crowns.
The results for pensioners are even better with the average pension being almost 9000 crowns higher than in 1993.
In a statement from the Ministry of Labour, and Welfare, they stated that the average monthly income from 2000 to 2011 had nearly doubled, at the end of last year to 24,436 crowns.
Almost all food prices have doubled in the past 20 years and statistics show that over the past 20 years, there has been a sharp increase in household bank debt.
In 1993 combined savings of 92.8 billion crowns were invested in the banks, at the end of 2011 this has risen to 1,098 billion.
Czech Republic is closely intertwined with the other EU Member State’s economies and 80% of Czech exports go to the EU. If the crisis in the euro is not solved the Czech Republic will not be able to accelerate economic growth, despite a good performance by the country itself.