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The Czech economy has finally recovered from the effects of fiscal consolidation. Given the relatively low level of debt burden in both the government and private sectors and the ‘growth-friendly’ monetary and fiscal policies, recovery over the period 2015-2017 seems assured. Acceleration of growth, however, may only be gradual as fixed investment is unlikely to expand at a markedly high rate. Doubts have recently been voiced about the country’s foreign trade performance in the years to come.
|Main Economic Indicators||2012||2013||2014||2015||2016||2017|
|Population, 1000 persons.||10511||10514||10534||.||.||.|
|GDP, real change in %||-0.8||-0.7||2.0||2.3||2.4||2.4|
|GDP per capita (EUR at PPP)||21800||21600||22500||.||.||.|
|Gross industrial production, real change in %||-0.8||-0.1||4.9||.||.||.|
|Unemployment rate - LFS, in %, average||7.0||7.0||6.1||6.0||5.8||5.8|
|Average gross monthly wages, EUR||997||965||933||.||.||.|
|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||45.0||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||60.2||63.4||66.5||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
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
Monthly Report No. 7-8/2014
Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Michael Landesmann, Sebastian Leitner, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July 2014
23 pages including 1 Table and 2 Figures Details