Economic and Financial Affairs

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• Economic forecasts for the 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) and include a chapter on the Czech Republic.
  
  
• Monitoring the budgetary situation in the Czech Republic
  
  

  Assessments of the Czech Republic’s convergence programme
  
  As required by the Stability and Growth Pact, at the end of each year the Czech Republic submits an update of the medium-term fiscal strategy it first presented in mid-2004. 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 the Czech Republic, the related Commission assessments and Council opinions, as well as the working documents containing expanded assessments prepared by DG ECFIN, can be accessed here.
  
  Public finance report
  
  The Commission’s annual public finance report prepared by DG ECFIN – entitled "Public Finances in EMU" – includes a chapter on the Czech Republic.
  

  
  
  
• The Czech Republic and the euro
  
  The Czech Republic has not yet adopted the euro as its currency. It will join the euro area as soon as it fulfils the necessary conditions as defined in the 'Maastricht' convergence criteria. Progress toward meeting these criteria is assessed by the Commission and the European Central Bank in regular convergence reports. The most recent Commission convergence report covering the Czech Republic can be accessed here and the most recent Commission report on the practical preparations for the introduction of the euro in the Czech Republic as well as other information about Czech Republic and the euro here.
  
  
• The Czech Republic and economic policy coordination in the EU
  
  As part of the Lisbon Strategy for growth and jobs, the Czech Republic presented its 3-year national reform programme (NRP) in 2005 and reports each autumn on its implementation. The Commission analyses all Member States’ reports in its Annual Progress Report (APR) and proposes, as appropriate, country-specific recommendations. All available reports can be accessed here (NB this Europa subsite is not maintained under the responsibility of the Directorate-General for Economic and Financial Affairs).
  
  
• Selected topics
  
  The Country Focus series produced by DG ECFIN provides a concise analysis, set within the broader economic and policy debate, of a topical economic issue concerning one or more Member State(s). Country Focus issues on the Czech Republic are listed below, the most recent first.
  
  

  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)

  
  
  On 7 May 2008, the Commission adopted a Communication on "EMU@10: successes and challenges after 10 years of Economic and Monetary Union" (it was on 1 May 1998 that European Union leaders decided to launch the euro on 1 January 1999). The Communication, which takes stock of what has been achieved over the past ten years and makes proposals on the way forward, builds on an in-depth study by DG ECFIN. Both documents can be found on DG ECFIN’s EMU@10 website
  
  The enlargement study entitled "Enlargement, Two Years After - An Economic Evaluation" produced by the Bureau of European Policy Advisers and DG ECFIN reviews the experience of the May 2004 enlargement of the EU and draws lessons for future enlargement. The study focuses on the economic aspects of enlargement and assesses whether the expectations of a positive economic impact prevaling in the run-up to the enlargement have been fulfilled.