Czech Republic
GDP growth has been losing momentum gradually as productive investment starts to decline. Labour resources are nearing depletion, but labour shortages have failed to prompt intensified capital formation. A high dependence on the car industry may become a problem. Signs of recession in Germany are spilling over into Czech manufacturing. Consumption remains the backbone of a subdued output growth. We forecast average growth of around 2.5% in the medium run.
| FORECAST* | ||||||
|---|---|---|---|---|---|---|
| Main Economic Indicators | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| Population, 1000 persons | 10594 | 10630 | 10670 | . | . | . |
| GDP, real change in % | 4.4 | 2.8 | 2.5 | 2.4 | 2.6 | . |
| GDP per capita (EUR at PPP) | 26800 | 28000 | 29100 | . | . | . |
| Gross industrial production, real change in % | 6.5 | 3.1 | -0.4 | . | . | . |
| Unemployment rate - LFS, in %, average | 2.9 | 2.2 | 2.0 | 2.0 | 2.0 | . |
| Average gross monthly wages, EUR | 1126 | 1243 | 1328 | . | . | . |
| Consumer prices, % p.a. | 2.4 | 2.0 | 2.6 | 2.1 | 2.1 | . |
| Fiscal balance in % of GDP | 1.6 | 1.1 | 0.6 | . | . | . |
| Public debt in % of GDP | 34.7 | 32.6 | 30.3 | . | . | . |
| Current account in % of GDP | 1.6 | 0.3 | 0.3 | 0.3 | 0.2 | . |
| FDI inflow, EUR mn | 9997 | 7272 | 8000 | . | . | . |
| Gross external debt in % of GDP | 89.3 | 81.6 | 80.0 | . | . | . |
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
CZECH REPUBLIC: Weak growth at full employment
Leon Podkaminer
in: Braced for Fallout from Global Slowdown
wiiw Forecast Report No. Autumn 2019, November 2019 , pp. 60-63
Details and Buy
Monthly Report No. 6/2019
Vasily Astrov, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Hermine Vidovic and Goran Vuksic
wiiw Monthly Report No. 6, June 2019
27 pages including 24 Tables and 1 Figure