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[49] In August 2015, Czech GDP growth was 4.4%, making the Czech economy the highest growing in Europe. [50] On 9 November 2015, unemployment in the Czech Republic was at 5.9%, the lowest number since February 2009. [51] Dividends worth CZK 289 billion were paid to the foreign owners of Czech companies in 2016. [52]
The European Union membership referendum in 2003 approved the country's accession with 77.3% in favour, and in 2004 the Czech Republic joined the EU. [6]Since joining the EU in May 2004, the Czech Republic has adopted fiscal and monetary policies that aim to align its macroeconomic conditions with the rest of the European Union.
This is the map and list of European countries by monthly average wage (annual divided by 12 months), gross and net income (after taxes) for full-time employees in their local currency and in euros.
The Czech Republic participates in the European Single Market as a member of the European Union and is therefore a part of the economy of the European Union, but uses its own currency, the Czech koruna, instead of the euro. It has a per capita GDP rate that is 91% of the EU average [122] and is a member of the OECD.
In 1993, on the breakup of Czechoslovakia, the Czechoslovak koruna split into two independent currencies: the Slovak koruna and the Czech koruna. Accession to the EU in 2004 meant both currencies were slotted to be replaced by the euro once their respective countries met the criteria for economic convergence and there was the political will to ...
7 February 1993 31 July 1993 Overstamped Czechoslovak banknotes 100 Kč 165 × 81 mm Green Czech: Peasant and worker View of Prague with the castle and the Charles Bridge: 1961 7 February 1993 31 August 1993 500 Kč 153 × 67 mm Brown Slovak: Partisans of the SNP 1944: Devín Castle: 1973 7 February 1993 31 August 1993 1,000 Kč 158 × 67 mm Blue
The tax on buildings is based on the area of land occupied. The Building and unit tax ranges from CZK 2 to CZK 10 per square meter and in some cases can increase by 0.75 CZK per square meter with every floor exceeding 1/3 of the building built up area. The levy on agricultural land is 0.75% of its value.
The Czech Republic officially joined the European Union on 1 May 2004. The original intention of the Czech National Bank was to adopt the Euro, but after relatively strong economic progress within the Czech Republic and a favorable national attitude for the Czech Koruna there are no current plans to change the currency.