Czech Republic: Staff Report for the 2011 Article IV Consultation
IMF Staff Country Reports, April 7, 2011
Source details
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- Czech Republic: Staff Report for the 2011 Article IV Consultation
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Bibliographic details
- Published: April 7, 2011
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455232109.002
Overview
- The Czech economy has rebounded from the downturn owing to its strong fundamentals and the global recovery.
- Domestic demand has become self-sustaining since mid-2010.
- Fiscal consolidation commenced in 2010 and helped yield significant credibility gains.
Economic performance and growth
- GDP has grown by 2.3 percent in 2010.
- Fixed investment grew moderately in the second half of 2010, mostly on account of one-off factors.
Inflation and monetary policy
- Despite accommodative monetary policy, inflation pressures remained subdued until the recent surge in commodity prices.
- Headline and core inflation descriptors referenced in the source: "commodity prices inflation", "core inflation", "headline CPI inflation", "inflation expectation", "prices inflation".
Financial sector and banking
- The virtually foreign-owned banking system has been stable throughout the crisis.
Fiscal stance and public finances
- Fiscal consolidation has commenced in 2010, contributing to significant credibility gains.
- Subject tags related to fiscal policy in the source: "Expenditure", "Fiscal policy", "Fiscal stance", "Public debt".