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Czech Republic among elite
( 02 / February / 2005 )
According to the most recent international comparison by World Times, the Czech Republic is the fourth wealthiest developing economy in the world. It can now rightfully be proud of membership in the elite group of “East European tigers”, as experts are now calling the countries of the former communist bloc, which have topped the list of best transformation economies.
World Times compared seventy countries having the statute of a developing economy and the Czech Republic scored a total of 1855 points in the “Wealth of Nations Triangle Index” for 2004. The index presents a sum of points from three areas that determine quality of life and prospects of long-lasting development in the country. The main ones are economic development, social level and development of an information society. Each of these areas is further evaluated based on another eleven indicators while the data comes from multiple independent sources.
The first ten on the list are seven countries from the former soviet bloc lead by Slovenia. Israel and South Korea also finished ahead of the Czech Republic. While South Koreans are practically the best in economic criteria, Israelis are successful in social indicators. The Czech Republic according to the World Times report does very well in criteria of economic environment, where it scored more points than the winner Slovenia.
Economist for Patria Online David Marek, however, says that it depends on one’s point of view whether a country like the Czech Republic still belongs to the group of developing economies. “Our position is nonetheless positive in the region as a whole because when a foreign investor decides where to locate his investment what helps is the position of all countries in the region and its overall condition.”
And the wealthiest are:
1878 1. Slovenia
1861 2. Israel
1856 3. South Korea
1855 4. Czech Republic
1816 5. Taiwan
1814 6. Estonia
1790 7. Hungary
1751 8. Slovakia
1718 9. Lithuania
1705 10. Latvia
1634 12. Poland
1627 14. Croatia
1588 17. Bulgaria
1532 21. Romania
1466 25. South Africa
1438 27. China
1404 31. Russia
1378 35. Ukraine
Source: World Times, Wealth of Nations Index
* Scores are based on an evaluation of economic development, social indicators and development of an information society
Source: Lidove noviny (27. 01. 2005)