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

8th March 2021 / Economic policy / Macroeconomic Indicators, Economic Growth


Soaring Czech wages mainly driven by one-off factors

The 6.5% of Czech wage growth in 4Q20 is a positive surprise, but this quarter was affected by several one-off factors and bonuses for healthcare workers. This year we expect wage growth to slip below 3%
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3rd March 2021 / Economic policy / Macroeconomic Indicators, Economic Growth


After modest growth in 4Q20, the economy is likely to decline again in 1Q21

According to the CZSO’s refined estimate, the Czech economy grew by 0.6% qoq in 4Q20, with the year-on-year decline easing from -4.9% to -4.7%. These figures were slightly up on the advance estimates from the beginning of February of +0.3% qoq and -5.0% yoy. For full-year 2020, the economy recorded its steepest ever decline, of 5.6%, due to the pandemic.
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3rd March 2021 / Economic policy / Macroeconomic Indicators, Economic Growth


Erste Group expects economic upturn in 2021

GDP growth rates seen between +3% and +6%, with Hungary posting region’s strongest upswing CEO Bernd Spalt: „We will experience an economic rebound in 2021“ Insolvencies: only trailing effect, no insolvency wave Company outlook: lower risk costs, significantly higher profits
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Members of the American Chamber of Commerce in the Czech Republic