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Economic Challenges in Czech Republic, Hungary, and Poland Post-EU Integration

This article examines the economic conditions in the Czech Republic, Hungary, and Poland following their EU accession in 2004. It highlights key issues such as excessive deficit procedures, unemployment rates, and trade dynamics. With Czech unemployment at 8.6%, Hungary at 11.2%, and Poland at 12.6%, the report discusses the reliance on agriculture and industry in these economies. It also addresses the societal impact of poverty and the usage of EU funds for economic development, alongside delays in euro adoption amid the eurozone crisis.

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Economic Challenges in Czech Republic, Hungary, and Poland Post-EU Integration

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  1. CzechHungaryPoland & the Financial Crisis Tereza, Anel and Yanita

  2. Background: • EU accession: 2004 • Subjects to excessive deficit procedures • Have not yet adopted the euro

  3. Background Unemployment Exports/Imports • CZR – 8.6% • HUN – 11.2% • POL – 12.6% • CZR – machinery and transport equipment, raw materials, chem. (exp. & imp. POL 6.3%, 7.1% ) • HUN – machinery, other manufacture (imp. POL 4.7%) • POL – machinery, manufacture, food and live animals, chemicals Occupied in agriculture & industry: • CZR – 3.1%, 38.6% • HUN – 4.7%, 30.9% • POL – 17.4%, 29.2%

  4. Background • People at risk of poverty or social exclusion: Czech > 15%, Hungary > 30%, Poland > 25%. • Common policy issues: public finance, economic growth, narrowing budget deficit, employment & labor force participation

  5. News: Inside the borders

  6. EU Budget

  7. Comparison Millions of euros

  8. Comparison Millions of euros

  9. Comparison Millions of euros

  10. Comparison Millions of euros

  11. Comparison Millions of euros

  12. Czech Republic • Czech is a net beneficiary, opposing decreasing of the budget. • Money saved on CAP will be allocated to education, research and energy security. • 5.4 bil euros for agriculture and 1.9 bil for development.

  13. Hungary • 60% of EU funds will be used on economic development • €48m for unemployment • Biggest payout per capita • 10% lower than the previous budget deal

  14. Poland • Finance Minister JacekRostowski : “a unique, huge success” • 52% of all public investment comes from EU budget • “Development eastern Poland" programme • Wants a "European defense force" to guarantee European security

  15. Delaying Euro Adoption • Excuse: Eurozone crisis • Exchange Rate Mechanism II (ERM II) • Minimum 2 years % of respondents who think that the consequences of adopting the euro are “very and rather negative”

  16. Conclusion • Friends of Cohesion • Poorer regions that benefit highly • “Everyone is a winner”

  17. Sources The Guardian: EU budget: how much does each country pay and where does it get spent? EurActiv: EU budget summit aftermath: ‘Everyone’s a winner’ European Commission: Where does the money go? 4-traders: Government succeeds in EU budget negotiations Syracuse University Conference: “The Euro Crisis and the Future of the European Union” The Guardian: EU budget interactive The Guardian: EU leaders reach historic budget deal - as it happened

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