Czechia

map Czechia
Czechia’s economy grew by 1.1% in 2024, driven by private and public consumption; meanwhile investment and industry remained weak. Inflation stabilised at 2.7%, and the central bank cut the policy rate to 4%. Fiscal consolidation in 2025 may retard growth, though a potential post-election spending boost and German defence spending could offer support. The external risks, including a potential US-EU trade war, have led us to reduce the 2025 growth forecast to 2%.
        FORECAST*
Main Economic Indicators202220232024202520262027
Population, 1000 persons106721086410850...
GDP, real change in %2.8-0.11.12.02.52.7
GDP per capita (EUR at PPP)321503448036150...
Gross industrial production, real change in %2.1-1.3-0.7...
Unemployment rate - LFS, in %, average2.22.62.62.82.72.6
Average gross monthly wages, EUR162517961838...
Consumer prices, % p.a.14.812.02.72.32.21.6
Fiscal balance in % of GDP-3.1-3.8-2.2-2.4-1.9-1.8
Public debt in % of GDP42.542.543.6...
Current account in % of GDP-4.7-0.11.81.81.61.5
FDI inflow, EUR m87291101012048...
Gross external debt in % of GDP67.461.365.6...


Basic data are continuously updated.

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

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Monthly Report No. 4/2025

Alexandre Bernier, Doris Hanzl-Weiss, Philipp Heimberger, Michal Hrubý, Ambre Maucorps and Leon Podkaminer
wiiw Monthly Report No. 4, April 2025
56 pages including 2 Tables 36 Figures and 2 Boxes

Details

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Executive summary

Olga Pindyuk
in: The Crisis is Over, but its Scarring Effects are Hindering Recovery
wiiw Forecast Report No. Spring 2024, April 2024 , pp. I-VII
Details