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Investment in Czech Republic Still Below Pre-Crisis Level
The global financial crisis, which originated in the USA in 2007 also hit the Czech Republic quite hard despite the fact that neither its internal nor external imbalances were excessive, the Czech Central bank stated.
Investment in Czech Republic Still Below Pre-Crisis Level / Picture: © Vindobona.org
In the first phase, the Czech Republic did not need to consolidate its banking sector or public finances. However, the high openness of the Czech economy meant that it was hit indirectly via several different channels (declining exports, falling foreign direct investment inflows, decreasing interest income on investment in foreign debt instruments, and shrinking public budget revenues).…
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