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The economy has finally recovered from unnecessary fiscal consolidation. With low levels of public and private debt and growth-friendly monetary and fiscal policies, continuing recovery in 2015-2017 seems assured. But the growth speed-up can be gradual as fixed investment (especially in housing) is unlikely to expand at a very high rate. It will take some time before investment enters a path of fast and sustained growth. Also, uncertainties persist concerning the performance of foreign trade.
|Main Economic Indicators||2012||2013||2014||2015||2016||2017|
|Population, 1000 persons.||10511||10514||10534||.||.||.|
|GDP, real change in %||-0.9||-0.5||2.0||2.6||2.4||2.4|
|GDP per capita (EUR at PPP)||21700||21600||22500||.||.||.|
|Gross industrial production, real change in %||-0.8||-0.1||5.0||.||.||.|
|Unemployment rate - LFS, in %, average||7.0||7.0||6.1||5.8||5.5||5.3|
|Average gross monthly wages, EUR||997||964||930||.||.||.|
|Consumer prices, % p.a.||3.5||1.3||0.4||0.4||1.5||1.5|
|Fiscal balance in % of GDP||-3.9||-1.2||-2.0||.||.||.|
|Public debt in % of GDP||44.6||45.1||42.6||.||.||.|
|Current account in % of GDP||-1.6||-0.5||0.6||-1.0||-1.2||-1.5|
|FDI inflow, EUR mn||7348||5544||3679||.||.||.|
|Gross external debt in % of GDP||60.3||63.5||66.6||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Monthly Report No. 7-8/2015
Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2015
25 pages including 1 Table and 2 Figures
THE CZECH REPUBLIC: Second dip left behind
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 57-58 Details and Buy