8th April 2014

Competitiveness: IMF believes that Czech economy will grow faster

According to the IMF World Economic Outlook for April 2014 the Czech Republic should grow faster than in the previous year. Estimated growth of Czech economy by 1.9 % for 2014 is in comparison to previous growth of 0.9 % last year 1 % higher. The percentage is also higher in comparison to IMF economic forecast for the Czech Republic at the beginning of this year which stated potential growth of only 1.5 % higher which illustrates that Czech economy is doing better than IMF anticipated. The IMF outlook for the Czech Republic with the growth of 1.9 % ranks in general among higher estimates. For example Czech National Bank believes that Czech GDP will grow by 2.2 % which is higher than IMF estimate but on the other hand Ministry of Finance foresees the growth of only 1.4 %, according to the European Commission the Czech GDP should grow by 1.8 % and OECD by only 1.1 %. For the year 2015 the outlook looks brighter and IMF with its estimate of 2 % is rather on the safe side here in comparison to Czech National Bank with 2.8 %, Ministry of Finance with 2 %, European Commission with 2.2 % and OECD with expected growth of 2.3 %.

Members of the American Chamber of Commerce in the Czech Republic