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Vlček: There should be a general political consensus on the economic strategy

by AI | 14.Oct 2024 | Europe in brief AI

The economic strategy was approved by the government on Thursday. The aim of the document is for the Czech Republic to move into the top ten EU countries with the highest gross domestic product per capita by 2040.

Temelín Nuclear Power Plant. Photo CTK Connect/Olga Patáková

Prague – There should be general political consensus on the economic strategy. The Czech Republic needs a clear vision, said the new Minister of Industry and Trade Lukáš Vlček (STAN) at a press conference in Prague today. According to him, the current economic model of the Czech Republic is being exhausted, the country is lagging in technology and has a high infrastructure debt.

The economic strategy was approved by the government on Thursday. The aim of the document is for the Czech Republic to move into the top ten European Union countries with the highest gross domestic product per capita by 2040. Last year, according to Eurostat data, the Czech Republic ranked 14th.

The strategy includes projects for the next ten to 15 years and focuses on four main areas, namely the development of human capital, investment in energy, transport and digital infrastructure, production with high added value and securing the necessary financing.

For the Ministry of Industry and Trade (MIT) priorities in the economic strategy, Vlček identified new nuclear sources, modernization of transmission systems, or preparation of large investments. According to him, more work should also be done on reducing the administrative burden on entrepreneurs. MIT also wants to focus on monopolistic and oligopolistic efforts in the Czech market. Vlček has previously said that there are about 150 measures in the strategy to achieve long-term and sustainable growth of the Czech economy. Sectoral and industry strategies will follow the strategy as an overarching document. By the end of February, the MIT wants to develop an implementation plan to achieve the individual goals. (October 14)