Czechia

map Czechia
The resilience of the Czech economy is fading, and it is anticipated that the coming months will bring recessionary pressures. The reasons for pessimism are piling up: inflation will remain high, real wages will continue to decline, and industry will struggle with supply-chain issues. As a result, after 2% in 2022, growth will slow to a modest 1% in 2023.
        FORECAST*
Main Economic Indicators201920202021202220232024
Population, 1000 persons106721069810506...
GDP, real change in %3.0-5.53.52.01.02.8
GDP per capita (EUR at PPP)291602787029500...
Gross industrial production, real change in %-0.3-7.26.9...
Unemployment rate - LFS, in %, average2.02.62.82.52.62.6
Average gross monthly wages, EUR134713671478...
Consumer prices, % p.a.2.63.33.315.08.53.2
Fiscal balance in % of GDP0.3-5.8-5.1-4.7-3.7-1.9
Public debt in % of GDP30.037.742.0...
Current account in % of GDP0.32.0-0.9-2.6-4.0-3.1
FDI inflow, EUR m958273676491...
Gross external debt in % of GDP76.576.375.5...


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: Bracing for the Winter
wiiw Forecast Report No. Autumn 2022, October 2022 , pp. I-VIII
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Monthly Report No. 7-8/2022

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Selena Duraković, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Sebastian Leitner, Isilda Mara, Bernhard Moshammer, Olga Pindyuk, Sandor Richter, Bernd Christoph Ströhm, Maryna Tverdostup, Nina Vujanović, Zuzana Zavarská and Adam Żurawski
wiiw Monthly Report No. 7-8, July-August 2022
58 pages including 4 Tables and 21 Figures

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