Czech economy growing again but many close to poverty, report suggests

The Czech Republic’s economy began growing last year but many people in the country are living close to poverty, according to the latest annual report from the international organisation Social Watch. The country lost some years in its efforts to catch up on average European Union gross domestic product but the current situation means hopes of convergence have been reawakened, according to the study’s co-author Ilona Švihlíková. She said since 2006 foreign companies had drawn more dividends out of the Czech economy than they had invested, which is one reason that pay rises are lagging behind profits.