{
  "title": "Czech Republic: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Czech Republic",
  "publication": "IMF Staff Country Reports, June 26, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/06/26/czech-republic-2017-article-iv-consultation-press-release-staff-report-and-statement-by-the-45003",
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  "summary": "This 2017 Article IV Consultation highlights the strong Czech economy. It grew by 2.4 percent in 2016, and unemployment is now the lowest in the European Union. Headline inflation is at the target, and external deflation pressure has faded. In addition, nominal incomes are growing solidly.",
  "publishDate": "2017-06-26",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Summary findings",
      "content": "- The Czech economy grew by 2.4 percent in 2016.\n- Unemployment is now the lowest in the European Union.\n- Headline inflation is at the target.\n- External deflation pressure has faded.\n- Nominal incomes are growing solidly.\n- Given momentum in the economy, real GDP growth is projected to increase to 3 percent in 2017, largely driven by domestic demand.\n- Strong economic growth and better revenue collection mean a surplus of 0.4 percent of GDP is expected for 2017.\n- Current policies and improved tax collection would imply continued small surpluses from 2018."
    },
    {
      "heading": "Macroeconomic outlook",
      "content": "- 2016 actual real GDP growth: 2.4 percent.\n- 2017 projected real GDP growth: 3 percent (driven largely by domestic demand).\n- Fiscal balance projection for 2017: surplus of 0.4 percent of GDP.\n- Fiscal outlook beyond 2017: continued small surpluses from 2018 under current policies and improved tax collection."
    },
    {
      "heading": "Prices, labor market, and external conditions",
      "content": "- Headline inflation: at the target.\n- External deflation pressure: has faded.\n- Unemployment: lowest in the European Union.\n- Nominal incomes: growing solidly."
    },
    {
      "heading": "Policy-relevant implications",
      "content": "- Continued implementation of current policies combined with improved tax collection is expected to sustain small fiscal surpluses from 2018.\n- Strong domestic demand is the primary driver of the 2017 growth projection.\n\nCzech Republic: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Czech Republic — June 26, 2017.\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/06/26/czech-republic-2017-article-iv-consultation-press-release-staff-report-and-statement-by-the-45003"
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    "Published: June 26, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484305256.002",
    "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.",
    "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.",
    "Headline inflation: at the target.",
    "External deflation pressure: has faded.",
    "Unemployment: lowest in the European Union.",
    "Nominal incomes: growing solidly.",
    "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.",
    "**Country Report**"
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