Czech Republic

The strong rise in public investment in 2018 is to moderate in 2019 thus reducing overall growth accordingly. Tight labour markets and the ongoing wage push support private consumption. Despite this, higher inflation is not on the horizon while rising unit labour costs are responsible for falling corporate profitability and may weaken foreign trade performance. Monetary policy may become too restrictive. Fiscal policy targeting surpluses does little to support growth.

map Czech Republic
Main Economic Indicators201620172018201920202021
Population, 1000 persons105661059410630...
GDP, real change in %
GDP per capita (EUR at PPP)256002690027800...
Gross industrial production, real change in %
Unemployment rate - LFS, in %, average4.
Average gross monthly wages, EUR102711201243...
Consumer prices, % p.a.
Fiscal balance in % of GDP0.71.60.9...
Public debt in % of GDP36.834.732.7...
Current account in % of GDP1.
FDI inflow, EUR mn980982067272...
Gross external debt in % of GDP73.489.381.9...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


CZECH REPUBLIC: Stability and (undue) caution

Leon Podkaminer
in: Moving Into the Slow Lane
wiiw Forecast Report No. Spring 2019, March 2019 , pp. 80-83
Details and Buy


Monthly Report No. 1/2019

Richard Grieveson, Julia Grübler, Peter Havlik and Roman Stöllinger
wiiw Monthly Report No. 1, January 2019
42 pages including 23 Figures