Czech Republic: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Czech Republic

July 7, 2016

Preview Citation

Format: Chicago

Czech Republic: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Czech Republic, (USA: International Monetary Fund, 2016) accessed September 18, 2024

Summary

A favorable external environment, high utilization of EU funds, and supportive macroeconomic policies have boosted economic growth. The authorities’ medium-term fiscal objective is appropriate, but fiscal framework legislation that would anchor policy is yet to be approved by parliament. The central bank’s use of an exchange rate floor to achieve its inflation target has helped stem deflationary pressures, but inflation is still well below target. The financial system is sound and resilient to shocks. Policy recommendations. Policies should aim at comprehensively addressing obstacles to strong and sustained growth, while safeguarding macroeconomic stability.

Subject: Economic and financial statistics, Exchange rates, External sector statistics, Fiscal policy, Fiscal stance, Foreign exchange, Inflation, Prices, Public debt, Public financial management (PFM)

Keywords: CNB staff, CR, EU fund absorption, EU funds, Exchange rates, Expenditure method, External sector statistics, Fiscal stance, Global, Headline inflation, Indexation, Inflation, Inflation expectation, ISCR, Monetary policy rate, Pressures build-up

Publication Details

Pages:

73
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/213
Stock No:

1CZEEA2016001
ISBN:

9781475568011
ISSN:

1934-7685

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