{
  "title": "Czech Republic: 2018 Article IV Consultation - Press Release; Staff Report; and Statement by the Executive Director for the Czech Republic",
  "publication": "IMF Staff Country Reports, June 26, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/06/26/czech-republic-2018-article-iv-consultation-press-release-staff-report-and-statement-by-the-46019",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Economic performance and labor market",
      "content": "- Growth has been \"strong, broad-based and job rich.\"\n- The economy grew at 4.4 percent in 2017, led by strong domestic demand.\n- The unemployment rate fell to a record low of 2.3 percent in April 2018, even with increased participation.\n- Labor shortages are putting constraints on future growth."
    },
    {
      "heading": "Inflation and monetary conditions",
      "content": "- Headline and core inflation are close to the target of 2 percent."
    },
    {
      "heading": "Projections and near-term risks",
      "content": "- Growth is projected to remain strong this year, at 3.7 percent.\n- Major near-term risk: a decline in global trade for a small economy highly dependent on external demand, particularly from the euro area.\n- Additional risk channel: indirect exposure from other regions due to the Czech economy's tight integration into supply chains."
    },
    {
      "heading": "Subjects and keywords covered",
      "content": "- Subjects: External sector statistics, Fiscal policy, Fiscal stance, Labor, Labor productivity, Production, Public debt\n- Keywords: core inflation, CR, Europe, exchange rate arrangement, financial asset, fiscal policy, Fiscal stance, Global, government, headline inflation, household lending, ISCR, koruna, Labor productivity, monetary management, potential GDP, surplus, vocational training reform, Western Europe\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\"}"
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    "Published: June 26, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484363669.002",
    "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.",
    "Headline and core inflation are close to the target of 2 percent.",
    "Growth is projected to remain strong this year, at 3.7 percent.",
    "Major near-term risk: a decline in global trade for a small economy highly dependent on external demand, particularly from the euro area.",
    "Additional risk channel: indirect exposure from other regions due to the Czech economy's tight integration into supply chains.",
    "Subjects: External sector statistics, Fiscal policy, Fiscal stance, Labor, Labor productivity, Production, Public debt",
    "Keywords: core inflation, CR, Europe, exchange rate arrangement, financial asset, fiscal policy, Fiscal stance, Global, government, headline inflation, household lending, ISCR, koruna, Labor productivity, monetary management, potential GDP, surplus, vocational training reform, Western Europe",
    "**Country Report**"
  ],
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