Caspian region has significant potential which must be used

Caspian Energy (CE): Your Excellency, was 2012 a successful year for the EU and the Czech Republic? Which events would you choose to emphasise? 

Petr Necas, Prime Minister of the Czech Republic: I think that with caution we might assess this year on a generally positive note. In spite of what was objectively a difficult economic position within the European Union, especially in the Eurozone - which determines economic conditions for the Czech Republic - the government is successfully continuing in its reform efforts to consolidate the public finances and reduce the national budget deficit. Next year we have set ourselves the demanding target of reducing the national budget deficit to under 3% of GDP. This year a number of macroeconomic indicators have stayed at a relatively satisfactory level, with the level of unemployment as one example. The confidence of foreign investors that the Czech government’s policies are the right ones is illustrated by the favourable interest rates applied to Czech national bond issues, better than those for a number of countries in western Europe.  That our reforms, which in addition to fiscal responsibility are also focused on strengthening economic growth, are the right ones is also confirmed to a great extent by the European Commission and Council in their assessment of the Czech Republic National Reform Programme for 2012.