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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Spotlight issue
AmCham and US Embassy Meeting on Joint Priorities and Business Outlook
The AmCham Board discussed 2024 priorities with US Ambassador Bijan Sabet and his political, economic and commercial team on January 22nd. Both sides agreed to address climate change and digitization, particularly cybersecurity, in the coming year.
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Outlook for the Czech economy in 2024: Recovery from high inflation
A look back at last year reveals the problems of an economy that has undergone a series of unusually strong shocks in recent years. From the pandemic to the energy crisis. Unfortunately, the Czech Republic is the only EU country that has still not been able to cope with the negative effects of these shocks and where the performance of the economy has still not reached the level of the end of 2019.
However, last year can also be seen as a turning point. The government was able to push through a consolidation package that should bring public finances significantly closer to a sustainable long-term position. In other words, the growth rate of government debt as a share of GDP should slow down significantly in the coming years.
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AmChamIntel: Macro - Too high too long
The ECB’s Christine Lagarde described inflation as holding too high for too long. CNB vice-governor Eva Zamrazilová viewed Czech inflation similarly during our AmChamIntel talk.
The CNB predicts a higher rate and the consolidation of public finance will bring inflation back to approximately 2% by Q3 2024.
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AmCham Macro Intel: What is driving high prices?
What is driving high prices was the subject of regular AmCham Macroeconomic Intel session led by AmCham CZ Vice President Martin Skřehota of Carrier Refrigeration and Jaromír Šindel of Citi.
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