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Czech Republic: 2018 Article IV Consultation - Press Release; Staff Report; and Statement by the Executive Director for the Czech Republic
Author:
International Monetary Fund. European Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2018: Issue 187
Language:
English
Publication Date:
26 Jun 2018
DOI:
https://doi.org/10.5089/9781484363669.002
ISBN:
9781484363669
ISSN:
1934-7685
Pages:
67
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
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund