Czech Republic: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Czech Republic
IMF Staff Country Reports, June 26, 2017
Source details
- Canonical URL
- Czech Republic: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Czech Republic
Other formats
Bibliographic details
- Published: June 26, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484305256.002
Summary findings
- The Czech economy grew by 2.4 percent in 2016.
- Unemployment is now the lowest in the European Union.
- Headline inflation is at the target.
- External deflation pressure has faded.
- Nominal incomes are growing solidly.
- Given momentum in the economy, real GDP growth is projected to increase to 3 percent in 2017, largely driven by domestic demand.
- Strong economic growth and better revenue collection mean a surplus of 0.4 percent of GDP is expected for 2017.
- Current policies and improved tax collection would imply continued small surpluses from 2018.
Macroeconomic outlook
- 2016 actual real GDP growth: 2.4 percent.
- 2017 projected real GDP growth: 3 percent (driven largely by domestic demand).
- Fiscal balance projection for 2017: surplus of 0.4 percent of GDP.
- Fiscal outlook beyond 2017: continued small surpluses from 2018 under current policies and improved tax collection.
Prices, labor market, and external conditions
- Headline inflation: at the target.
- External deflation pressure: has faded.
- Unemployment: lowest in the European Union.
- Nominal incomes: growing solidly.
Policy-relevant implications
- Continued implementation of current policies combined with improved tax collection is expected to sustain small fiscal surpluses from 2018.
- Strong domestic demand is the primary driver of the 2017 growth projection.
Czech Republic: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Czech Republic — June 26, 2017.
Content in this bundle
- Country Report