The Czech Republic possesses a developed, high-income economy with a per capita GDP rate that is 81% of the European Union average. One of the most stable and prosperous of the post-Communist states, the Czech Republic saw growth of over 6% annually in the three years before the outbreak of the recent global economic crisis. Growth has been led by exports to the European Union, especially Germany, and foreign investment, while domestic demand is reviving.
Most of the economy has been privatised, including the banks and telecommunications. A 2009 survey in cooperation with the Czech Economic Association found that the majority of Czech economists favor continued liberalization in most sectors of the economy.