natgillin/translations-raw huggingface dataset:
Denne anden pakke betød en styrkelse af den politik, regeringen havde annonceret i april, men den indeholdt yderligere nedskæringer i statens udgifter og forbud mod import finansieret over statsbudgettet.
In 1995, when a large current account deficit first emerged, it was fully financed by very large capital inflows.
Det er endnu for tidligt at udtale sig om virkningen af disse to økonomiske pakker. Regeringen har advarende udtalt, at hvis landets stilling over for udlandet ikke er for bedret mærkbart ved udgangen af tredje kvartal 1997, vil det blive overvejet at indføre yderligere restriktive handelsforanstaltninger, som f.eks. en importafgift.
However, in 1996, this was no longer the case: as a result foreign exchange reserves fell by over 1,2 billion ECU in the year.
Den Tjekkiske Republiks udlandsgæld er moderat og udgør under 40% af BNP.
The goods traded are also highly concentrated.
Der er væsentligst tale om mellem- og langsigtet gæld, og afdragene svarer til under 15% af eksporten af varer og tjenester.
Two categories accounted for more than half of all exports: machinery and transport equipment accounted for 33 % and manufactured goods accounted for 29%.
Den Tjekkiske Republik er en åben økonomi
In 1996, exports of manu factured goods actually contracted, having been one of the main growth areas before.
*■* med en vareeksport, der udgør
Apart from a temporary weakening of demand in the EU, this may reflect either a fall in competitiveness or a lack of capacity to produce.
Selv om den overordnede situation således er god, er der fortsat oplagte ubalancer.
The main growth area was beverages but this is closely followed by fuels.
Handelsunderskuddet har været stigende: 1 1996 nåede det op på 4,6 mia. ECU (11 % af BNP), og det var på 1,3 mia. ECU i første kvartal af 1997.
The reorientation of trade and the ability of Czech exports to penetrate new markets suggests that the quality of goods has been improving.
Selv om der må forventes et underskud i
However, the valueadded of the goods
Som det er tilfældet for andre lande i området, er handelen blevet rettet mod EU væk fra de øst­europæiske lande.
The external debt of the Czech Republic is moderate and represents less than 40 % of GDP.
Siden Den Tjekkiske Repu­blik blev en uafhængig nation i begyndelsen af
The majority of it is medium and long term debt and the debt service is equivalent to under 15% of exports of goods and services.
Vækst i realt BNP
Real GDP growth rate in per cent
— årligt gennemsnit — december­december
— Annual average — December on December
Arbejdsløshed, ultimo året
Unemployment rate, end-year in per cent ILO définition
% af BNP
General government budget balance in per cent of GDP
Balance på de løbende poster
Current account balance in per cent of GDP
Gæld/eksport
Debt/export ratio in per cent
1993, er landets handel med EU steget kraftigt, og EU er nu Den Tjekkiske Republiks væsentligste handelspartner; i 1996 gik 59% af Den Tjekkiske Republiks eksport til EU, og 63% af importen stammede fra EU.
growth is above productivity growth is one of the main sources of concern for macroeconomic policy because it contributes to inflationary pressure, by increasing producer costs and boosting consumer demand. In 1996, wages grew by 8,5 % in real terms, compared to over all productivity growth of 4 %.
sig tilbage fra arbejdsmarkedet, og at der hurtigt blev store beskæftigelsesmuligheder i den private sektor.
exported to the West is relatively low.
Der er stadig overbeskæftigelse, især i de tilbageværende statsejede industrier og den offentlige sektor, herunder jernbanerne, hvilket også har bidraget til at holde arbejdsløsheden nede.
The com petitive advantage of the Czech Republic certainly comes from low wages and a highly qual ified labour force.
I begyndelsen af 1997 steg arbejdsløsheden til over 4%, og den ser ud til at stige yderligere, idet der har været en stigende tendens til afskedigelser i visse industrier, f.eks. stålindustrien.
Before the recent depreciation of the currency this had been largely eroded by high wage growth.
Arbejdsløsheden er imidlertid fortsat lav i forhold til de Heste andre europæiske lande.
Productivity gains and qual ity improvements will become increasingly important if the Czech Republic is to maintain its markets over the medium term.
Handelen er ligeledes koncentretet på enkelte varegrupper.
There is a minimum wage.
Eksporten af færdigvarer, der før var et af hovedvækstområderne, faldt i 1996.
In January 1996 it was set at 2 500 crowns per month (based on a 42'/2-hour week), which was then 27% of the average wage.
Bortset fra en midlertidig efterspørgselsafmatning i EU kan dette skyldes enten faldende konkurrenceevne eller manglende produktionskapacitet.
The nominal value is being deliberately capped so that, as inflation persists, its real value will be eroded.
Hovedvækstområdet var drikkevarer, der følges tæt af brændstoffer.
The wage distribution is still much narrower than in current Member States.
Nye handelspartnere og Den Tjekkiske Republiks evne til at vinde indpas på nye eksportmarkeder tyder på, at produktkvaliteten har været stigende.
Exports have been growing steadily, despite the real appreciation of the currency and the rising unit labour costs. However, the pattern, composition and extent of trade make the Czech Republic very vulnerable to external shocks.
Værditilvæksten for varer, der eksporteres til Vesten, er imidlertid forholdsvis lav.
For example, it is dependent on energy imports — particularly oil.
Det er oplagt, at Den Tjekkiske Republiks konkurrencemæssige fordel skyldes lave lønninger og en højt kvalificeret arbejdskraft.
The payroll tax, which was used to fund unemployment and pension benefits under command planning, was removed in 1993 and replaced with social security contributions.
Før den nylige devaluering af valutaen, blev denne fordel stort set udhulet af store lønstigninger.
These also cover state employment policies, social assistance and sickness insurance, and are consolidated into the state budget.
Det vil blive stadigt mere nødvendigt med produktivitets- og kvalitetsforbedringer, hvis Den Tjekkiske Republik skal bevare sine markeder på mel lemlang sigt.
Health care is separated from the state budget and is run as a funded insurance system, rather than on a pay-as-you-go basis.
Arbejdsmarkedet er meget stramt, og der siges at være mangel på faglært arbejdskraft, hvorfor løntrykket er stort.
Employers' federations and unions exist, but they do not appear to play a very dominant role in areas of macroeconomic importance, such as wage setting.
Indtil juli 1995 blev der i enighed med fagforeningerne ført en eksplicit indkomstpolitik - en ekstraskat - der havde til formål at begrænse reallønsstigningerne til højst 5% ud over væksten i produktionen.
One of the most remarkable features of the transition in the Czech Republic, which sets it apart from all other countries in the region, is that it has suffered virtually no unemployment.
Denne politik viste sig imidlertid at virke mod hensigten - maksimum på 5 % blev anvendt som normen - og den blev opgivet.
Unemployment initially rose as a result of transition, but it only reached 5 % at its highest point and remained around 3 % from early 1995 to the end of 1996.
Der blev ikke der efter stillet større lønkrav, hvilket antyder, at denne politik ikke kunstigt begrænsede lønstigningerne.
The main reasons for this were that many working pensioners withdrew from the labour force, and that employment opportunities in the private sector developed rapidly.
Det faktum, at reallønsstigningen lig ger over produktivitetsstigningen, er et af hovedproblemerne i den makroøkonomiske politik, da det øger inflationspresset på grund af stigende produktionsomkostninger og forbrugerefterspørgsel.
There is still overstaffing, especially in the remnants of old state industry and the public sector, including the railways, which has also contributed to keeping unemployment down.
I 1996 steg lønningerne med 8,5% i faste priser sammenlignet med en sam let produktivitetsstigning på 4%.
At the beginning of 1997, unemployment increased to over 4% and looks set to rise further as lay-offs have been increasing in certain industries, e.g., steel.
Der findes en mindsteløn.
The role of the state had to change significant ly when central planning was abandoned.
I januar 1996 var denne på 2500 CZK om måneden (baseret på en ugentlig arbejdstid på 42 1/2 time), hvilket svarede til 27% af gennemsnitslønnen.
To support the new role of government, fundamental fiscal reform was required.
Den nominelle værdi er bevidst fast, således at realværdien udhules i takt med inflationen.
On the expenditure side, this began in 1990 with a reduction in current transfers to enterprises and households.
Løn spredningen er stadig meget snævrere end i de nuværende medlemsstater.
On the revenue side it took place mainly in January 1993 when valueadded tax, personal income tax and corporate profits tax were introduced and/or streamlined.
Økonomien er åben: Eksport og import af varer og tjenester udgør 107 % af BNP.
The labour market is very tight and there is said to be a shortage of skilled labour, as a result, wage pressure is high.
Eksporten har været støt stigende på trods af en realopskrivning af valutaen og stigende enhedslønomkostninger.
Until July 1995, with the agreement of the unions, there was an explicit incomes policy — an excess-wage tax — which sought to limit real wage growth to a maximum of 5 % above productivity growth.
Handelens mønster, sammensætning og omfang gør imidlertid, at Den Tjekkiske Republik er meget følsom over for eksterne påvirkninger.
However, it appeared to have counter-productive effects — the maximum was used as the norm — and it was thus abolished.
F.eks. er landet afhængigt af energiimport, især olie.
There was no surge in wage demands after it, which suggests it did not artificially contain increases.
Arbejdsmarkedet
The fact that real wage
Disse dækker også den offentlige beskæftigelsespolitik, social bistand og sygeforsikring og indgår i statsbudgettet.
As a result of the reforms, both the size and the structure of the budget have changed.
Sundhedsvæsenet er adskilt fra statsbudgettet og køres som en bidragsfinansieret ordning og ikke over skatten.
The importance of indirect taxation has increased, and government expenditure as a percentage of GDP has been reduced to below the levels pre vailing in most EU Member States.
Et af de mest bemærkelsesværdige træk i Den Tjekkiske Republiks omstilling, hvorved det adskiller sig fra alle andre lande i området, er, at der stort set ikke har været arbejdsløshed.
The guiding principles for fiscal policy have been to balance the budget and to reduce the share of expenditure in GDP; this means that fiscal policy is not used actively to affect the macroeconomics situation.
De offentlige finanser
Republic ran surpluses on the state budget.
Det var nødvendigt at ændre statens rolle afgørende, da planøkonomien blev opgivet.
there is some concern that only firms with for eign ownership have been investing.
For at staten kunne udføre denne nye rolle, var det nødvendigt med grundlæggende skattereformer.
In 1995 most investment went to telecommunications and the banking sector, rather than manufacturing. ing.
På udgiftssiden blev reformerne påbegyndt i 1990 med en reduktion af de løbende overførsler til virksomheder og husholdninger.
There are separate budgets for the state, municipalities and the various funds providing social security.
På ind tægtssiden blev reformen især udmøntet i januar 1993 med indførelse og/eller strømlining af moms, indkomstskat og selskabsskat.
To contain costs, the general income support for the economically active population was abolished in 1993 and unemployment benefits were trimmed.
nes rolle i virksomhedernes ledelse er derfor omfattende.
Enterprise Sector: Privatisation and Enterprise Restructuring
Ejerskabet er uklart i mange af de private virksomheder, der ejes af investeringsfonde, og det påvirker omstruktureringerne negativt.
Productivity growth and restructuring are crucial if production is to become efficient and able to cope with competition.
Da investeringsfonde væsentligst ejes af banker, er der tvivl om. i hvor høj grad fondene kan lede virksomhederne objektivt - der er potentielle interessekonflikter, da bankerne både er ejere og kreditorer.
The speed of restructuring depends in part on the access to new investment.
Det ser endvidere ud til, at konkurser af den grund er hyppigere; således var der i 1996 og i begyndelsen af 1997 en række konkurser i banker og investeringsfonde.
Investment finance can come from retained earnings or from domestic borrowing, from sales of shares or brought in from abroad.
De største statsejede banker og offentlige værker mangler endnu at blive privatiseret.
Investment in general has been strong but this has mostly come from government and gone to infrastructure projects, as has a large proportion of the FDI.
Som følge af disse reformer er budgettets størrelse og struktur ændret.
Corporate restructuring needs to progress further.
Indirekte beskatning har fået større betydning, og de offentlige udgifter i procent af BNP er blevet nedbragt til under niveauet i de fleste EU-medlemsstater.
Productivity growth has been relatively slow considering the share of invest ment in GDP and the low rate of unemployment.
Retningslinjerne for finanspolitikken har været at opnå balance på budgettet og nedbringe udgifternes andel af BNP; det betyder, at finanspolitikken ikke bruges til aktivt at påvirke den makroøkonomiske situation.
Also, corporate governance is still not sufficiently strong, partly as a result of the method of privatisation used.
Indtil 1996 havde Den Tjekkiske Republik overskud på statsbudgettet.
Further, since 1996 strikes and protests by workers, including railway and other public sector workers, have taken place against restructuring plans.
Industriproduktionen er siden 1990 blevet diversificeret, men er stadig domineret af metalproduktion.
The authority responsible for monetary policy is the Czech National Bank (CNB) which was created on 1 January 1993, taking over from its federal predecessor.
Selv om de mindre virksomheder har fået en større markedsandel, er det stadig de store virksomheder, der er dominerende; i 1995 stod de store virksomheder (over 100 ansatte) for 81 % af produktionen og de meget store virksomheder (over 5 000 ansatte) for 20 %. De mest dynamiske virksomheder er de meget små og meget store; mellemstore virksomheder med 100-5 000 ansatte ligger under gennemsnittet.
Its main objective was to ensure stability of the national currency. It was made independent from the government, but is accountable to Parliament.
Der findes ikke data om virksomhedernes ren tabilitet, men der er en vis frygt for, at der kun er foretaget investeringer i virksomheder med el vist udenlandsk ejerskab.
The CNB does not set tar gets for inflation, but has a target range for money supply growth.
I 1995 gik størstedelen af investeringerne til telekommunikation og bankområdet frem for fremstillingsvirksomhed.
Although inflation has come down and the currency remained stable, the targets for money have generally been missed.
Der er adskilte budgetter for stat, kommuner og de forskellige fonde, der finansierer det sociale sikringssystem.
The move to a market economy is clearly intimately linked with privatisation of stateowned property and the restructuring of the production processes.
For at nedbringe omkostninger ne blev den generelle indkomststøtte til den erhvervsaktive befolkning fjernet i 1993, og arbejdsløshedsunderstøttelsen blev beskåret.
The privatisation process in the Czech Republic has been rapid and comprehensive.
Det sociale sikringssystem finansieres gennem bidrag fra både arbejdsgivere og arbejdstagere (henholdsvis 26% og 8% af bruttolønnen).
Privatisation of small stateowned enterprises took place in 1991/1992.
Det er klart, at en omstilling til markedsøkonomi er tæt forbundet med privatisering af stats ejet ejendom og omstrukturering af produktionsprocessen.
The majority of the vouchers for the mass privatisation distributed to individuals were placed with investment funds which then bought up the shares.
Privatiseringsprocessen i Den Tjekkiske Republik er blevet gennemført hurtigt og har været omfattende.
As a result, the role of the investment funds in firms' management is extensive.
Privatiseringen af mindre statsejede virksomheder fandt sted i 1991-1992.
Since the investment funds are largely owned by banks, there are questions over the ability of the funds to manage companies objectively — there are potential conflicts of interest as banks are both owners and creditors.
De store virksomheder blev solgt i forbindelse med det massive privatiseringsprogram, der blev gennemført i to etaper, nemlig 1992-1993 og 1994-1995.
In addition, bank ruptcies tend to propagate more rapidly because of the existence of such links: there was indeed a series of failures across banks and investment funds in 1996 and in early 1997.
Investeringerne kan finansieres via tilbageholdt overskud eller indenlandsk låntagning, salg af aktier eller udenlandske investeringer.
Although small enterprises have increased their share of the market, large firms dominate: in 1995, 81% of output was produced by large firms (with over 100 employees) and 20% by very large firms (with over 5000 employees).
Der er generelt fore taget store investeringer, dog væsentligst offentlige investeringer til infrastrukturprojekter, lige som der har været store udenlandske direkte investeringer.
The most dynamic enterprises are the very small and the very large; medium-sized firms with 100-5000 employees are below average.
Omstruktureringen af virksomhederne skal styrkes yderligere.
There is no evidence on the profitability of firms but
Der har været en ret dæmpet produktivitetsstigning i betragtning af investeringernes andel af BNP og den lave arbejdsløshed.
The two-tier banking system, in which the central bank is separated from commercial banking, was well established by 1993.
Virksomhedsledelsen er fortsat ikke tilstrækkelig stærk, bl.a. på grund af den anvendte privaliseringsmetode.
Initially, the main instrument of monetary policy was quantity limits on the amounts banks could lend and borrow.
Siden 1996 har der endvidere været strejker og protester mod omstruktureringsplanerne, bl.a. i jernbanesektoren og andre offentlige sektorer.
The use of indirect instruments, such as open-market operations (treasury bills and bank bills) and regulation (e.g., setting minimum reserve requirements, discount and Lombard rates), to manage the money supply and the exchange rate became common only gradually after 1993.
Den finansielle sektor re disse fire store banker, dog således at der privatiseres en ad gangen.
also proposed tackling the transparency problem by increasing reporting of financial results, and by limiting the number of markets on which stocks can be simultaneously quoted.
Den pengepolitiske myndighed er Den Tjekkiske Nationalbank, der blev oprettet den 1. januar 1993 og dermed erstattede den tidligere føderale bank. Hovedformålet var at sikre stabilitet for den nationale valuta.
The insurance market is still under-developed but competition is increasing.
Banken er uafhængig af regeringen, men ansvarlig over for parlamentet.
The Czech Republic has a population of 10,3 million.
Dens uafhængighed er sikret af loven om Den Tjekkiske Nationalbank og den tjekkiske grundlov.
As with many countries the population is ageing: birth rates are low and life expectancy is increasing.
Banken opstiller ikke inflationsmål, men mål for væksten i pengeforsyningen.
Some 60% of the population is of working age.
Selv om inflationen er faldet, og valutaen forblevet stabil, er målene for pengeforsyningen generelt ikke blevet opfyldt.
This is set to increase slightly in the short to medium term as the retirement age is raised.
Det tostrengede banksystem, hvor centralbanken er adskilt fra forretningsbankerne, blev ind ført i 1993.
In general, there has always been broad con sensus on reforms and little social unrest.
Til at begynde med var det vigtig ste pengepolitiske instrument at begrænse bankernes låntagning og långivning.
How ever, in 1996 and early 1997 a number of strikes was held in the public sector.
Kapitalmarkedet, især børsen i Prag, har delvis udviklet sig som følge af denne masseprivatisering.
The formal reform of the banking sector is essentially complete, but further restructuring is both necessary and expected.
De grundlæggende retlige og institutionel le retningslinjer er blevet indført.
State participation accounted for 31,5 % of banks' capital by the end of 1995.
Det er den største børs i området efter antal værdipapirer og kapitalstørrelse, men handelen er ikke steget hurtigt, formodentlig fordi markedet ikke er gennemsigtigt.
Domestic banks accounted for 91,5 % of deposits at the end of 1995; banks with state participation accounted for about 70 % of total bank assets.
Børsen er endnu ikke blevet en vigtig finansieringskilde for virksomhederne.
Banks only fulfil their role of financial intermediation to a limited extent, and there are problems facing the sector at present.
Kapitalmarkederne er af observatører og investorer blevet kritiseret for at være dårligt reguleret og forvirrende struktureret.
Firstly, there are too many small banks that are inefficient and therefore will not be able to survive as they are.
Der er blevet opdaget ulovlige aktiviteter i nogle investeringsfonde.
During 1996, the rate at which banks ran into problems increased.
Herudover findes der i dag en række markeder for handel med aktier og værdipapirer, således at der kan gælde forskellige priser for samme papirer.
Secondly, there is a significant amount of inter-ownership of banks and cross-ownership between invest ment funds and banks.
Som svar på denne kritik blev der i juli 1996 indført stærkt ændrede børs regler med det formål at fremme investeringsbeskyttelsen og gennemsigtigheden på markedet. Endvidere ønsker Finansministeriet at oprette et uafhængigt værdipapirudvalg for at forbedre kontrollen med og reguleringen af de finansielle markeder samt et clearinginstitut for at samle de mange markeders aktiviteter.
Finally, the bad loans problem for banks, though it has improved, is still present. There are still wide spreads between interest rates on credits and on deposits.
Bør sens ledelse har ligeledes foreslået at forbedre gennemsigtigheden ved i højere grad at give finansielle oplysninger og ved at begrænse det antal markeder, på hvilke der samtidig kan handles med værdipapirer.
As a result of the unease in the sector, the government is concentrating on privatising each of the main four banks, one at a time.
Forsikringsmarkedet er stadig underudviklet, men konkurrencen er stigende.
The labour force is skilled and educated: in 1995, 32% of the employed had higher sec ondary education, including vocational training.
Den økonomiske udvikling
In addition, 40% had apprenticeship qualifications and a further 11 % had university education.
Som i mange andre lande er befolkningen aldrende: Fødselstallet er lavt, og levetidsforventningen stigende. Ca.
Prague has developed more rapidly than any other area, and its economy is showing signs of overheating: very low unemployment, and high and rising costs both in terms of wages and rents.
60% af befolkningen er i den arbejdsdygtige alder. Dette tal forventes at stige en smule på kort til mellemlang sigt, idet pensionsalderen sættes op.
Meanwhile the fortunes of other regions have depended largely on the existing industrial base and on whether they could expand tourism and/or exploit proximity to Germany and Austria and the capital.
Den formelle reform af banksektoren er stort set afsluttet, men nye omstruktureringer er nødvendige og forventede.
The capital market, in particular the Prague stock exchange, has developed partly because of mass privatisation.
Ved udgangen af 1995 ejede staten 31,5% af bankernes kapital.
The basic legal and institutional frameworks have been set up.
Ban ker med offentlig kapital udgjorde ca. 70% af de samlede bankaktiver.
It is the largest stock exchange in the region, by number of stocks and capitalisation, but trading has not increased rapidly, probably because the market lacks transparency.