Czechia

map Czechia
The Czech economy continues to grow, although the surge in fossil fuel prices is expected to limit GDP growth to 1.7% in 2026. Growth is driven mainly by household consumption, supported by strong real wage growth, projected to be 5.0% year on year in 2026. Steady industrial production provides further support. The Czech National Bank raised its policy rate to 3.75% in July and, given the inflationary pressures stemming from disruptions in the Strait of Hormuz, is expected to lift it by a further 25 basis points in November.
        FORECAST*
Main Economic Indicators202320242025202620272028
Population, 1000 persons108641090510913...
GDP, real change in %0.01.32.61.72.62.3
GDP per capita (EUR at PPP)349703626038560...
Gross industrial production, real change in %-1.3-0.71.9...
Unemployment rate - LFS, in %, average2.62.62.83.02.82.5
Average gross monthly wages, EUR178318271993...
Consumer prices, % p.a.12.02.72.32.12.82.4
Fiscal balance in % of GDP-3.7-2.0-2.2-2.7-3.5-3.0
Public debt in % of GDP42.243.244.2...
Current account in % of GDP-0.11.70.7-0.6-0.7-0.4
FDI inflow, EUR m11010124759475...
Gross external debt in % of GDP61.065.067.5...


Basic data are continuously updated.

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

publication_icon

Monthly Report No. 7-8/2026

Vasily Astrov, Alexandra Bykova, Selena Duraković, Meryem Gökten, Richard Grieveson, Ioannis Gutzianas, Gabor Hunya, Branimir Jovanović, Biljana Jovanovikj, Niko Korpar, Dzmitry Kruk, Isilda Mara, Michał Możdżeń, Emilia Penkova-Pearson, Olga Pindyuk, Sandor Richter, Marko Sošić, Bernd Christoph Ströhm and Marina Tverdostup
wiiw Monthly Report No. 7-8, July-August 2026
52 pages including 5 Tables

Details

publication_icon

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

top