The Czech Republic last year attracted nearly $5bn in foreign direct investments (FDI), according to Finance Minister Jiri Rusnok. He quoted the figures last week at the annual meeting of the European Bank for Reconstruction and Development (EBRD), which is taking place in Bucharest (Romania).

Over the past few years, FDI in the Czech Republic has amounted to around $2,500 per person, Rusnok said. In its last report, the EBRD forecast GDP growth in the Czech Republic to be 3.5% in 2002. While praising the government for its economic management, the EBRD called for reform of public finances including the pension system and mentioned the need to sort out bad loans accumulated by the Czech Consolidation Agency CKA.

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