Czech Republic

Fiscal and monetary policy moves cannot neutralise the effects of the slump in external demand for the products of the automotive industry, the economy’s most important sector. Progressive easing of the epidemic-related restrictions will limit the damage to those sectors dependent on domestic sales. The deep recession – inevitable in 2020 – will be moderated by the strong devaluation of the domestic currency. The economic fundamentals will remain strong, enabling a recovery in 2021.

map Czech Republic
Main Economic Indicators201720182019202020212022
Population, 1000 persons105941063010672...
GDP, real change in %
GDP per capita (EUR at PPP)272002850029600...
Gross industrial production, real change in %6.53.1-0.3...
Unemployment rate - LFS, in %, average2.
Average gross monthly wages, EUR112612501329...
Consumer prices, % p.a.
Fiscal balance in % of GDP1.50.90.3...
Public debt in % of GDP34.232.130.2...
Current account in % of GDP1.50.5-
FDI inflow, EUR mn999771298314...
Gross external debt in % of GDP88.181.377.0...

Basic data are continuously updated.

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

Due to the unusually high level of uncertainty caused by COVID-19, we only present forecasts for 2020-2021.


Monthly Report No. 5/2020

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Bernd Christoph Ströhm and Hermine Vidovic
wiiw Monthly Report No. 5, May 2020
96 pages including 27 Tables and 39 Figures



CZECH REPUBLIC: Weak growth at nearly full employment

Leon Podkaminer
in: Uncertainty in Turbulent Times
wiiw Forecast Report No. Spring 2020, March 2020 , pp. 83-86
Details and Buy