Czechia

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The Czech economy is slowly entering recovery mode: the second quarter saw a return to growth and tamed inflation. However, any optimism about the economic prospects must be tempered by the weak performance of Czechia’s export-oriented industry, which continues to grapple with the stagnation in Germany. Investments also remain sluggish amidst the high level of uncertainty. While consumption will support growth this year, a more extensive recovery is to be anticipated in the years to follow, assuming gradually improving external demand and revived investment activity.
        FORECAST*
Main Economic Indicators202220232024202520262027
Population, 1000 persons1067210864....
GDP, real change in %2.8-0.11.02.52.7.
GDP per capita (EUR at PPP)3215034480....
Gross industrial production, real change in %2.1-1.3....
Unemployment rate - LFS, in %, average2.22.62.82.62.6.
Average gross monthly wages, EUR16251796....
Consumer prices, % p.a.14.812.02.72.22.2.
Fiscal balance in % of GDP-3.1-3.8-2.5-2.0-2.2.
Public debt in % of GDP42.542.4....
Current account in % of GDP-4.70.31.00.91.4.
FDI inflow, EUR m87297620....
Gross external debt in % of GDP67.459.9....


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. 7-8/2024

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, Zuzana Zavarská and Adam Żurawski
wiiw Monthly Report No. 7-8, July-August 2024
45 pages including 5 Tables and 12 Figures

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

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