Economic policy / Macroeconomic Indicators, Economic Growth
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.
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AmCham suggests steps to achieve innovative economy in 2020 Letter on Priorities
The American Chamber of Commerce in the Czech Republic (AmCham) has suggested twelve steps that could be taken in 2020 that would help the Czech Republic become a top ten EU economy by 2025. Adjusted for the progress of the past two years and the government's new innovation strategy, the new Letter on Priorities sets four strategic directions: high-tech manufacturing, innovative cities, government policies that drive innovation, and government as an competitive advantage. For each strategic direction, the letter recommends steps that would align the country's key assets- people, technology, infrastructure, and government- to these strategic goals.
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ING Bank Czech Republic: The Czech economy slows to 2.5% in 3Q
Growth in the Czech economy slowed to 2.5% in the third quarter, according to refined estimates. Household consumption is lower, but it's still the main growth driver. Fixed investments fell slightly. We expect the economy to grow around 2.5% this year, falling closer to 2% in 2020.
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IMF World Economic Outlook October 2019: Global Manufacturing Downturn, Rising Trade Barriers
Global growth is forecast at 3.0 percent for 2019, its lowest level since 2008–09 and a 0.3 percentage point downgrade from the April 2019 World Economic Outlook, according to the International Monetary Fund (IMF). Making growth more inclusive, which is essential for securing better economic prospects for all, should remain an overarching goal, the IMF advise.
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State budget worsening
The state budget ended in a deficit of CZK21bn in September, while it was a CZK17bn surplus a year ago. Though worse, the year-on-year result is optically higher due to EU funds flow. After adjusting, the budget ended CZK14bn worse in September than a year ago and is the weakest since 2015.
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