Economic policy

This section reports on economic policy initiatives of the Czech government, the EU, and other entities that have a direct impact on the competitiveness of the country. It also includes information on economic priorities of the AmCham and other leading associations.

Spotlight issue

20th February 2018 / Economic policy / Employment and Social Affairs

AmCham CZ: Brains and Brawn: Melding research & high-tech production

A day after CVUT and GE announced a research agreement that should make the university a top center for aviation research in Europe, AmCham manufacturing members met in the AmCham offices to compare notes on current and future challenges.
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20th February 2018 / Economic policy / Macroeconomic Indicators, Economic Growth

ING Bank Czech Republic: GDP growth in 4Q17 at 5.1% YoY

The first estimate of the GDP growth in 4Q17 is 5.1% (0.5% QoQ). Though slightly below market estimates, it confirms the good shape of the Czech economy. In 2017, the Czech economy accelerated by 4.5%, ING Bank Czech Republic writes.
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16th February 2018 / Economic policy / Macroeconomic Indicators, Economic Growth

Domestic economy did not surf the strong global growth wave in 4Q

The flash estimate for Czech GDP growth in the last quarter of 2017 showed a relatively weaker performance of the domestic economy compared with its regional peers. The qoq GDP dynamics printed 0.5% while yoy growth recorded 5.1%. According to the CZSO’s comments, the strong dynamics were driven by all demand components. That corroborates our estimates, but we expected a slightly stronger magnitude of demand. In a qoq comparison, Czech GDP did not even match the dynamics of the German economy. The lack of an available labour force probably played a role to some extent. Employment remained at the same level as in the preceding quarter while it increased 1.5% in yoy terms, Komercni banka says.
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14th February 2018 / Economic policy / Macroeconomic Indicators, Economic Growth

Inflation eased despite an increase in energy prices

The price level increased significantly at the beginning of the year. Energy prices are partially to blame as distribution fees increased. But other prices joined, as well. Businesses traditionally change price lists at the beginning of the year. They have already factored in their expectations about wage growth, which mainly impacts the core element. Food prices also increased.  Headline inflation eased due to statistical base effects as the beginning of 2017 was also marked by a strong price increase. Yet, inflation still remains above the 2% CNB target, where it should remain for the months to come, Komerční banka says.   
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Members of the American Chamber of Commerce in the Czech Republic