Czechia
| FORECAST* | ||||||
|---|---|---|---|---|---|---|
| Main Economic Indicators | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Population, 1000 persons | 10698 | 10506 | 10672 | . | . | . |
| GDP, real change in % | -5.5 | 3.6 | 2.4 | 0.1 | 2.0 | 2.7 |
| GDP per capita (EUR at PPP) | 28050 | 29710 | 31950 | . | . | . |
| Gross industrial production, real change in % | -7.2 | 6.9 | 2.5 | . | . | . |
| Unemployment rate - LFS, in %, average | 2.6 | 2.8 | 2.2 | 2.8 | 2.6 | 2.6 |
| Average gross monthly wages, EUR | 1367 | 1478 | 1641 | . | . | . |
| Consumer prices, % p.a. | 3.3 | 3.3 | 14.8 | 11.0 | 4.0 | 2.8 |
| Fiscal balance in % of GDP | -5.8 | -5.1 | -3.2 | -4.2 | -1.9 | -1.0 |
| Public debt in % of GDP | 37.7 | 42.0 | 44.2 | . | . | . |
| Current account in % of GDP | 2.0 | -2.8 | -6.1 | -1.2 | -0.6 | -0.1 |
| FDI inflow, EUR m | 7367 | 10953 | 10045 | . | . | . |
| Gross external debt in % of GDP | 76.3 | 76.3 | 66.9 | . | . | . |
Basic data are continuously updated.
* Forecasts are changed beginning of January, April, July and November.
See Press Conferences.
publication_icon
Executive summary
Branimir Jovanović
in: Beneath the Veneer of Calm
wiiw Forecast Report No. Autumn 2023, October 2023 , pp. I-VI
Details
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Monthly Report No. 7-8/2023
Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Selena Duraković, Meryem Gökten, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Sandor Richter, Bernd Christoph Ströhm, Maryna Tverdostup, Nina Vujanović, Zuzana Zavarská and Adam Żurawski
wiiw Monthly Report No. 7-8, July-August 2023
51 pages including 3 Tables, 24 Figures and 1 Box
There are not too many reasons to be optimistic about the economic performance of Czechia in 2023. The economy will remain stagnant (0.1%) and inflation high (11%). With prices rising steeply, household consumption is dragging growth downward, as are declining inventories. Following a period of surprising resilience, industry is also losing steam. The dim outlook for Germany is further weakening Czechia’s prospects. A mild recovery can be expected in 2024, helped by inflation falling back.