IMF Staff Country Reports

Czech Republic: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Czech Republic

Publication Date:

January 30, 2024

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Growth slowed considerably following Russia’s invasion of Ukraine, reflecting disruptions in global value chains, significant increases in energy and commodity prices, an erosion in real wages, and a necessary tightening in monetary policy. Growth is expected to pick up in 2024, led by consumption and fixed investment—as inflation fades and real income recovers—supported by net exports. Nevertheless, over the medium term, GDP is not expected to reach the levels consistent with its pre-pandemic trend. Inflation peaked in 2022 and is projected to meet its target by early 2025. Risks are tilted to the downside for activity and to the upside for inflation.

Series:

Country Report No. 2024/028

Subject:

Economic and financial statistics External sector statistics Fiscal policy Fiscal stance Inflation International organization Labor Monetary policy Monetary tightening Prices Real wages

Frequency:

regular