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The Czech economy is finally recovering from the effects of fiscal consolidation. Given the relatively low levels of debt burdening both the government and the private sector (corporate as well as household debts) coupled with growth-friendly monetary and fiscal policies, recovery over the biennium 2014-2015 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 arisen 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||2.4||2.6||.|
|GDP per capita (EUR at PPP)||21800||21600||22100||.||.||.|
|Gross industrial production, real change in %||-0.9||0.0||4.8||.||.||.|
|Unemployment rate - LFS, in %, average||7.0||7.0||6.4||6.3||6.3||.|
|Average gross monthly wages, EUR||997||965||933||.||.||.|
|Consumer prices, % p.a.||3.5||1.3||0.4||1.8||1.5||.|
|Fiscal balance in % of GDP||-4.0||-1.3||-1.5||.||.||.|
|Public debt in % of GDP||45.5||45.7||45.0||.||.||.|
|Current account in % of GDP||-1.3||-1.4||-0.5||-1.2||-1.6||.|
|FDI inflow, EUR mn||6211||3783||.||.||.||.|
|Gross external debt in % of GDP||60.2||63.1||67.2||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
THE CZECH REPUBLIC: The second dip about to be left behind
in: On Thin Ice: CESEE Core Resilient in the Face of EU Stagnation and the Ukraine Crisis
wiiw Forecast Report No. Autumn 2014, November 2014 , pp. 55-57 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