Czech Republic: 2018 Article IV Consultation - Press Release; Staff Report; and Statement by the Executive Director for the Czech Republic

International Monetary Fund

No 2018/187, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2018 Article IV Consultation highlights that Czech Republic’s growth has been strong, broad-based and job rich. The economy grew at 4.4 percent in 2017, led by strong domestic demand. The unemployment rate fell to a record low of 2.3 percent in April 2018, even with increased participation. Meanwhile, headline and core inflation are close to the target of 2 percent. Growth is projected to remain strong this year, at 3.7 percent, but labor shortages are putting constraints on future growth. In the near term, a decline in global trade is a major risk for a small economy highly dependent on external demand, particularly from the euro area, but also indirectly from other regions given how tightly integrated is the Czech economy into supply chains.

Keywords: ISCR; CR; koruna; core inflation; government; headline inflation; surplus; household lending; vocational training reform; potential GDP; exchange rate arrangement; monetary management; financial asset; fiscal policy; Fiscal stance; Labor productivity; Europe; Global; Western Europe (search for similar items in EconPapers)
Pages: 67
Date: 2018-06-26
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