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Recession is likely to come to an end in 2014, mostly on account of the discontinuation of negative developments such as fiscal consolidation and contraction of inventories. Competitive devaluation will help preserve positive impulses from external trade. A very weak recovery in 2014 is likely to follow primarily from a slight strengthening of private and public consumption. But fixed capital formation is not likely to rebound strongly before 2015. Only in 2015-2016 growth can become adequate.
|Main Economic Indicators||2011||2012||2013||2014||2015||2016|
|Population, 1000 persons.||10496||10511||10514||.||.||.|
|GDP, real change in %||1.8||-1.0||-0.9||1.4||2.4||3.0|
|GDP per capita (EUR at PPP)||20300||20700||21000||.||.||.|
|Gross industrial production, real change in %||5.9||-0.9||0.5||.||.||.|
|Unemployment rate - LFS, in %, average||6.7||7.0||7.0||7.7||7.3||7.0|
|Average gross monthly wages, EUR||995||999||967||.||.||.|
|Consumer prices, % p.a.||2.2||3.5||1.4||1.7||1.8||1.5|
|Fiscal balance in % of GDP||-3.2||-4.4||-2.5||.||.||.|
|Public debt in % of GDP||41.4||46.2||49.0||.||.||.|
|Current account in % of GDP||-2.7||-2.4||-1.2||-1.5||-1.6||-1.7|
|FDI inflow, EUR mn||1632||8244||4000||.||.||.|
|Gross external debt in % of GDP||46.8||50.8||54.1||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
THE CZECH REPUBLIC: A change (for the better?)
in: Investment to the Rescue
wiiw Forecast Report No. Spring 2014, March 2014 , pp. 41-43 Details and Buy
Monthly Report No. 2/2014
Vladimir Gligorov, Olga Pindyuk, Leon Podkaminer, Johannes Pöschl and Roman Römisch
wiiw Monthly Report No. 2, February 2014
29 pages including 14 Tables and 8 Figures Details