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.

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Spotlight issue

15th December 2021 / Economic policy / Health Care

AmCham Health Care Council held discussion on digitization of health care: plans & projects in the pipeline

The Czech Republic has a once-in-a-generation chance to improve its citizen's health and increase the efficiency of its health care system. This opportunity is provided by the dedication of EU funds to national health care in the Recovery program.

10th December 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

Inflation hit 6%; without the VAT waiver on energy it would be 7%

Inflation rose in November in line with market expectations, but well above the Czech National Bank's forecast. Price increases were driven by fuel and food, while housing costs fell due to the waiver of VAT payments on energy. Without it, inflation would be 7% yoy. We expect the CNB's repo rate to increase to 3.25% in December and 3.75% in February.

9th December 2021 / Economic policy / Macroeconomic Indicators, Economic Growth

Czech wages increased by 5.7% yoy in 3Q21

Czech average wage growth slowed from 11.4% yoy in 2Q to 5.7% yoy in 3Q. This was due to the higher base of 3Q20, when the economy had already partly recovered, as well as to the fading effect of the second round of extraordinary bonuses paid in health and social care in 2Q. However, elevated inflation significantly downsized real wage growth, which was only 1.5% yoy in 3Q.