map Czechia
With persistently high inflation, cooling internal and external demand, tight monetary conditions and a deteriorating fiscal position, the macroeconomic challenges facing Czechia are mounting. The Czech economy will manage to keep its head just above water and will avoid a recession, but it will be stagnant this year. The slowdown is expected to be temporary, and the economy should be in a position to see renewed growth from 2024 onwards.
Main Economic Indicators202020212022202320242025
Population, 1000 persons106981050610525...
GDP, real change in %-
GDP per capita (EUR at PPP)280502971032060...
Gross industrial production, real change in %-
Unemployment rate - LFS, in %, average2.
Average gross monthly wages, EUR136714781643...
Consumer prices, % p.a.3.33.314.810.44.03.0
Fiscal balance in % of GDP-5.8-5.1-3.6-4.2-2.5-1.9
Public debt in % of GDP37.742.044.1...
Current account in % of GDP2.0-2.8-6.1-2.8-1.7-0.5
FDI inflow, EUR m73671095310045...
Gross external debt in % of GDP76.376.366.8...

Basic data are continuously updated.

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


Executive summary

Olga Pindyuk
in: Sailing Through Rough Waters
wiiw Forecast Report No. Spring 2023, April 2023 , pp. I-VI


Monthly Report No. 4/2023

Vasily Astrov, Olga Pindyuk, Maryna Tverdostup and Sergey Utkin
wiiw Monthly Report No. 4, April 2023
53 pages including 2 Tables and 33 Figures