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Showing posts with label Sustainability. Show all posts
Showing posts with label Sustainability. Show all posts
February 19, 2020
May 3, 2014
Benefits of EU Membership: Czech economy would be in the tank without EU membership
If the Czech Republic was not a member of the European Union, its
gross domestic product (GDP) for 2013 would be 12 percent lower than it
was, the Czech state secretary for European affairs, Tomáš Prouza, said
at a business forum during the visit of European Council President
Herman Van Rompuy to Prague.
Prouza presented the results of an economic study that several important economists have prepared for the Government Office.
"If we were not an EU member, could not take advantage of the single
market and had no revenues from the Cohesion Policy, Czech GDP for the
past year would be some 12 percent lower than it was," Prouza said.
"If we were not in the EU, there would have been almost no change in the level of incomes of Czech citizens vis-à-vis Western Europe in the 18 years since 1995," he added.
If the Czech Republic was a eurozone member, the revenue of the Czech economy would increase 25 billion Kč to 60 billion Kč annually, and domestic GDP would be between 0.6 percent and 1.2 percent higher.
"If we became a eurozone member in 2007 like Slovakia did, the contribution would be some 270 billion Kč," Prouza said.
The study puts the direct cost of eurozone membership, that is the potential contribution to the European Stability Mechanism, at 35 billion Kč.
The study shows that during EU membership, the Czech economy has gained 770 billion Kč. Without the internal market, its GDP would be 2.5 percent lower and unemployment 1.5 percent higher.
"If it were not for the internal market, if the barriers that were here before our entry to the EU stayed in place, the higher costs, lower trade volume, smaller exports and lack of foreign investments would have deprived us of some 100 billion Kč annually and another 75,000 people would be jobless," Prouza said at the business forum.
Since 2004, EU membership has brought 3.1 trillion Kč to the Czech Republic. The membership thus brought more than the Czech economy produced in 2004: some 300,000 Kč per person.
Read more: Czech economy would be in the tank without EU membership - PRAGUE POST | The Voice of Prague
Prouza presented the results of an economic study that several important economists have prepared for the Government Office.
"If we were not in the EU, there would have been almost no change in the level of incomes of Czech citizens vis-à-vis Western Europe in the 18 years since 1995," he added.
If the Czech Republic was a eurozone member, the revenue of the Czech economy would increase 25 billion Kč to 60 billion Kč annually, and domestic GDP would be between 0.6 percent and 1.2 percent higher.
"If we became a eurozone member in 2007 like Slovakia did, the contribution would be some 270 billion Kč," Prouza said.
The study puts the direct cost of eurozone membership, that is the potential contribution to the European Stability Mechanism, at 35 billion Kč.
The study shows that during EU membership, the Czech economy has gained 770 billion Kč. Without the internal market, its GDP would be 2.5 percent lower and unemployment 1.5 percent higher.
"If it were not for the internal market, if the barriers that were here before our entry to the EU stayed in place, the higher costs, lower trade volume, smaller exports and lack of foreign investments would have deprived us of some 100 billion Kč annually and another 75,000 people would be jobless," Prouza said at the business forum.
Since 2004, EU membership has brought 3.1 trillion Kč to the Czech Republic. The membership thus brought more than the Czech economy produced in 2004: some 300,000 Kč per person.
Read more: Czech economy would be in the tank without EU membership - PRAGUE POST | The Voice of Prague
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