Despite the division of the former CSFR on January 1, 1993 into the independent Czech Republic and Slovak Republic, the introduction of a new Czech currency, tax reform and foreign trade balance deficit the Czech Republic has continued its satisfactory macro-economic development:
- Real GDP grew 2.6% in 1994, 4.8% in 1995 and 4.4% in 1996.
- Privatisation is essentially complete with over 80% of former state property transferred to private ownership or the National Property Fund. Some large scale privatisation projects remain, including the state shares in Czech banks, Czech rail service, certain health care facilities and postal service. Remaining shares in privatized companies held by the National Property Fund are to be sold off in 1997.
