Economic forecasts for Czech Republic

The Commission publishes macroeconomic forecasts for the EU and the Member States twice a year, in the spring (May) and in the autumn (November). These forecasts are produced by the Directorate-General for Economic and Financial Affairs (DG ECFIN).

DG ECFIN also produces more limited "interim forecasts" in February and September, wich contain one-year projections of GDP growth and consumer price inflation for the euro area, the EU and seven large Member States.

>> Macroeconomic forecasts and interim forecasts

Monitoring the budgetary situation in Czech Republic

1. Assessments of Czech Republic's stability programme

As required by the Stability and Growth Pact, at the end of each year Czech Republic submits an update of the medium-term fiscal strategy it first presented in 1998. Euro area Member States submit stability programmes while countries outside the euro area submit convergence programmes. Based on an assessment by the Commission prepared by DG ECFIN, the Council adopts an opinion on each programme.

>> All programmes of Czech Republic, Commission assessments, Council opinions, working documents

2. The EU the excessive deficit procedure and Czech Republic

The Czech Republic is currently subject to the excessive deficit procedure (EDP) as specified in the Stability and Growth Pact. Based on the country’s budgetary performance against the Treaty reference values of 3% of GDP for the general government deficit and 60% of GDP for the government debt, the Council decided in July 2008 that the Czech Republic was in excessive deficit and set the deadline of financial year 2013/2014 to correct the situation.

>> Excessive deficit procedure for Czech Republic
>> Related articles. Stability and Growth Pact

3. The Public finance report and Czech Republic

The Commission's annual public finance report prepared by DG ECFIN – entitled "Public Finances in EMU"

Czech Republic and the euro

The Czech Republic has not adopted the euro as its currency.

>> Czech Republic and the euro

Czech Republic and economic policy coordination in the EU

As part of the Europe 2020 strategy for a smart, sustainable and inclusive EU economy, Czech Republic reports each autumn on the implementation of its national reform programme (NRP).

>> National reform programme and Commission assessment

ECFIN publications and Czech Republic

1. The EU and Czech Republic

>> EMU@10 website
>> Enlargement, Two Years After - An Economic Evaluation (Occasional Papers 5/2006)

2. Country Focus on Czech Republic

>> The Czech labour market: room for further improvement(December 2008)
>> Liberalisation and development of the Czech financial sector: more to come(December 2007)
>> Foreign Direct Investment in the Czech Republic: A Challenge for Domestic Firms(February 2007)
>> Social cohesion in the Czech Republic: a blessing or a trap?(September 2006)
>> Terms-of-trade effects in catching-up countries: the case of the Czech Republic(Marchations/cou 2006)
>> Pension reform in the Czech Republic: ageing rapidly, reforming slowly(April 2005)