9th July 2015

Economic Policy: Recent reports by Czech Government summarizing 2014 results

At its session on 1 July the Government reviewed the Analysis of the Development of the Czech Economy in 2014 drafted by the Ministry of Industry and Trade. The real growth of the Czech economy in 2014, driven by domestic demand, was 2%. Gross added value grew by 2.6% and it was driven by the industry (which accounted for 32.6% of the total gross value added). The increase in total revenues from industrial production together with slower employment growth lead to an increase in labor productivity by 8%. Read the Analysis.

The Government also reviewed the Analysis of Employment in 2014. According to the report, the overall employment rose by 0.8%. The share of entrepreneurs, including family members, rose by 0.1 percentage points to 18% of the total number of those employed in 2014. The number of employees working under fixed-term contracts increased and the number of employees with employment contracts for indefinite period decreased. The number of employees working full-time rose significantly, whereas the number of part-time employees dropped in 2014. The share of school graduates on the total number of the unemployed Czechs decreased from 6.6% in 2013 to 5.1% in 2014. Read the Analysis.

The Government reviewed the analysis of the Progress in Reducing the Administrative Burden for Entrepreneurs in the Czech Republic in 2014 written by the Ministry of Industry and Trade. In 2013, the Ministry set a goal to reduce administrative burden in the country by implementing 60 specific measures by the end of 2015. These include reducing administrative burden of participation in public procurement and publishing all forms used by public authorities on the internet, for example.

Members of the American Chamber of Commerce in the Czech Republic