The Czech economy continues to grow steadily. GDP growth is forecast to be well above potential in 2017 due to buoyant investment and private consumption, but is expected to moderate in 2018 and 2019. While exports are forecast to continue growing solidly thanks to robust global demand, their positive effect on GDP growth is set to be neutralised by strong import growth. The labour market is nearing full employment and inflation is projected to remain close to the central bank’s target of 2%. The headline government balance is on course to remain in surplus territory.

Indicators 2016 2017 2018 2019
GDP growth (%, yoy) 2,6 4,3 3,0 2,9
Inflation (%, yoy) 0,6 2,4 2,1 2,0
Unemployment (%) 4,0 3,0 2,9 2,9
Public budget balance (% of GDP) 0,7 1,2 0,8 0,6
Gross public debt (% of GDP) 36,8 34,6 33,3 32,5
Current account balance (% of GDP) -0,1 -0,2 -0,3 -0,6

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