Czech Republic

The Czech Republic is located in the intersection of the major transit arteries makes it a logical crossroads. The Czech Republic is a democratic country with a stable political, social, and judicial environment. The pillars of Czech foreign policy are democracy, the rule of law, the universality and indivisibility of human rights, respect for human dignity, equality and solidarity, and adherence to the international law. These values are fully in line with those that the EU upholds in its external relations. The Czech Republic is a member of all main international organisations and groupings where it is a recognised partner and an active participant in their activities. The Czech Republic has always had something valuable to impart to the world, whether it is in the fields of industry, science, sport, or culture. It is home to many talented individuals who, through their creativity, inventiveness, and dedication, display an uncommon talent and produce novel ideas and cutting-edge solutions.

Economy

The Czech economy had a reputation for modest but consistent GDP growth prior to the Covid epidemic. The nation, like most markets, saw historic output drops in 2020. Since then, the nation has slowly made-up ground with an eye of resuming 2-3% year-over-year growth. But the economy's fundamentals are still strong, and many regional businesses anticipate a complete recovery by 2022 or 2023. In Europe, pre-covid unemployment rates were among the lowest at less than 3%, which led to a labour scarcity and rising salaries.

Although the job market has lessened somewhat as a result of the health crisis and a sizable social safety net, unemployment is still the lowest in the EU. The currency ceiling that had kept the crown linked at 27 CZK to the euro was abolished by the CNB in April 2017. Since then, the crown has increased by about 7% in value when compared to the euro and the US dollar and has mainly been steady at that level.

The notion is generally unpopular and improbable in the foreseeable future, despite the prime minister's declaration that the nation was financially prepared to switch to the Euro. The annual projected inflation rate is about 2%, but starting in Q3 of 2021, consumer prices increased by amounts never before seen in many economies. Manufacturing makes up around 38% of the economy, while agriculture makes up more than 2%. Services make up about 60% of the economy. With a 10% GDP contribution, the auto industry is essential to industrial production.

About Longdom

Longdom plays a key role in bringing together experts and novices for collaborative and fruitful talks focused on current research by organising prestigious international conferences and webinars. Longdom conferences aim to unite scientists of all ranks from a variety of disciplines to share knowledge and engage in informal conversations around predetermined topics. Longdom conferences will showcase ground-breaking, cutting-edge research on fundamental roles in tackling problems as well as academic to industrial research translation. Younger scientists will benefit from all of these possibilities for professional development, which will encourage future partnerships and increase participation and commitment to their interesting research projects.