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CZECH REPUBLIC Tenders




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Capital Prague
ISO 3166 Code CZ
Population 10,521,600
Area, Sq KM 78,867
Currency Czech koruna
Official Language Czech
GDP, Billion USD 2,08,796
GDP Growth Rate, % 2.5
Inflation, Avg CP, % Chng 0.05
Interest Rates, % N/A
Unemployement Rate, % 6.66
Exchange Rate, 1 USD Equals 24.0
International dial code 420
Time Zone GMT+01:00
Internet TLD .cz

The Czech Republic is situated in Central Europe. This landlocked country is bordered to its west by Germany and to its South by Austria. In the southeastern border of the country is shared by Slovakia and the northeastern border by Poland. Prague is the capital of The Czech Republic and is also the largest city. There are 1.2 million residents living in Prague. This country also includes the historical territories of Czech Silesia, Moravia and Bohemia. The eastern part of the country is quite hilly and according to the World Wide Fund for Nature, the territory of the country can be subdivided into four eco-regions such as Pannonian mixed forests, Western European broadleaf forests, Central European mixed forests and Carpathian montane conifer forests. During the Second World War, Germany occupied Czechoslovakia but during the 1946 elections, the communist party of Czechoslovakia won and the country became a single party communist state. A multiparty parliamentary republic was formed when the communist party collapsed which led to the peaceful dissolution of Czechoslovakia into The Czech Republic and Slovakia. The Czech Republic is a development country and is known for its advanced and high income economy which ultimately provides the people with high standards of living. According to the UNDP, The Czech Republic ranks 15th in inequality adjusted human development. It has achieved strong performance in democratic governance and is ranked 11th most peaceful country in the world. The Czech Republic is also the member of NATO, European Union, Council of Europe, OSCE and OECD. The country’s per capita is 82 percent of the European Union average. The production of electricity in the country exceeds consumption about 10TWh every year which are exported. When it comes to the transportation infrastructure, it is said that Prague is the fifth busiest airport in Eastern as well as Central Europe. Most of the economy of this country is privatized which includes the telecommunications as well as the banks. The country became the member of World Trade Organization in the year 1995 and in 2007; it opened all its borders for its neighbouring countries. Czech National Bank is responsible for the monetary policy of the country. Czech Crown is the official currency of the country. OECD has ranked The Czech Republic 15th best in the world and as per the 2015 Index of Economic Freedom, the country ranks 24th. The economy of the country gets a substantial income from tourism. Prague is considered fifth most visited country in the entire world.

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