The COVID-19 pandemic was accompanied by unprecedented state interventions – from restrictions on basic individual freedoms to significant increases in public spending, among others, to compensate companies for the effects of the shutdown.
In non-emergency times, the role of economic freedom, defined as a lack of interference or coercion by others in an individual’s economic decisions, has been scientifically proven to yield economic growth and prosperity for the greatest number of people.
The year 2017 brought wins and failures. The Ukrainian Government was able to approve important reforms, which was still not sufficient to receive scheduled assistance from the IMF and the EU. 2018 will be tough as Ukraine should make large progress in many areas, while the 2019 elections are approaching.
The look back at 2014 will include mainly good news. While comparing to traditional benchmark – the average performance of the European Union – the Czech GDP growth rate was significantly higher than the growth rate of the EU. The Czech economy has had a faster growth than the EU in five quarters in a row.