Czech GDP grows by over 500 percent in nominal terms since 1989

The volume of the Czech Republic’s GDP has grown by over 500 percent in nominal terms since the fall of communism in 1989, according to figures released by the Czech Statistics Office. In real terms Czech GDP has increased by over a half, the office says. The average wage increased by 52 percent from just over 3,000 crowns a month in 1990 to 25,800 in 2014. The standard of living rose from some 60 percent of the EU average in 1993 to 80 percent in 2013.