The article analyzes the development of relations of major macroeconomic indicators in the Czech Republic in the last 20 years. It shows what the development of these relations was after a change of ownership in the country in early 1990s. It also discusses how these relations were affected by the economic growth in the years 2000-2007 and the financial and economic crisis in 2008-2010. The paper shows how the key factors are reflected in the relations between the fundamental economic indicators (exchange rate of CZK, trade balance, inflation rate, y-o-y growth of GDP, government deficit, government debt).

Keywords: Financial and economic crisis; GDP; Government deficit; Government debt

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