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23rd January 2019 / Economic policy / Macroeconomic Indicators, Economic Growth


Eurozone: The best is now (firmly) behind us

Peak growth is now behind us and while there are still positive drivers that make it too soon to call the end of the expansion, growth in 2019 is likely to come out much lower than last year. We forecast 1.4% GDP growth in 2019 and 1.3% in 2020 but the risks are skewed to the downside. In these circumstances, the probability of an ECB rate hike is melting away

22nd January 2019 / Competitiveness / Tax & Finance


Czechs will Spend 174 Days Working to Pay Taxes as this Year’s Tax Freedom Day Falls on 23 June

This year, taxpayers in the Czech Republic will spend 174 days working to pay taxes, which is one day fewer than last year. According to Deloitte’s calculations, Tax Freedom Day will fall on 23 June 2019. Approximately the same as in the Czech Republic will apply to Germany and Slovenia. Taxpayers will have to spend the most days paying taxes to the government in France, while the fewest in Romania and Bulgaria.

19th January 2019 / Competitiveness / Macroeconomic Indicators, Economic Growth


PwC Global Economy Watch: January 2019 predictions

PwC's Macroeconomics team presents Global Economy Watch, a short publication that looks at the trends and issues that are affecting the global economy and details our latest economic projections for the world's leading economies.

19th January 2019 / Competitiveness / Transport, Infrastructure and Tourism


expats.cz: Czech Republic rated the 2nd most-welcoming country in the world

The Czech Republic isn’t exactly known for its customer service. Which is why a new ranking from Dutch start-up Booking.com may come as a bit of surprise to anyone who’s been given the evil eye from an icy receptionist or grouchy waiter, expats.cz writes.

18th January 2019 / Competitiveness / Technology, R&D and Innovation


2019 will be Defined by Smart Speakers, Rise of 5G Networks and Development of Cloud-Based AI

In 2019, smart speakers will be the fastest-growing connected IoT device category. Their market will be worth USD 7 billion. Fifth-generation (5G) wireless networks will burst onto the scene in 2019, and by 2020, around 50 operators will offer this service. Among companies using artificial intelligence (AI), more than two thirds will obtain these capabilities through the cloud. These are some of the conclusions of Deloitte’s Technology, Media & Telecommunications (TMT) Predictions 2019.

Strategic Directions for Czech Economic Policy

  1. 1) The home of value-added manufacturing
  2. 2) Prague-Brno-Ostrava Creative Triangle
  3. 3) Health Care as an export industry
  4. 4) Government as a competitive advantage

Advocacy Priorities for 2018-2020 
 
People 

1. Setting a predictable policy for economic immigration based on the goal of maintaining current levels of employment for Czech citizens and wage growth that corresponds to productivity growth.  

2. Establishing incentives for companies and individuals to provide the qualifications and skills necessary for the automation of production and service industries.  

3. Introducing machine and computer programming as a required language in elementary and high schools.  

4. Improving the Healthy Life Years of the workforce and overall population through better prevention programs, better diagnostics, and better treatment.  
 
Infrastructure 

1. Develop a plan for developing and maintaining an integrated rail, road and air commercial logistics systems.  

2. Integrate the Prague airport into the national commuter network.  

3. Increase digital infrastructure capacity throughout country. 

4. Develop a housing plan that will create more entry-level housing in Prague and Brno for purchase or rent.  
 
Technology 

1. Reform investment incentives to concentrate on product research, development and production.  

2. Establish policy objectives in the area of health, energy, transport, environment and other areas and use these objectives for allocating public research funds. 

3. Require major public procurements to use objective and measurable criteria for innovation. 

 

Read the document in English and Czech.

Policy pipeline

In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.

Members of the American Chamber of Commerce in the Czech Republic