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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OECD: Czech Republic needs new reforms to boost productivity, accelerate convergence with the most advanced countries
The Czech Republic needs new reforms to boost productivity, improve economic growth and accelerate convergence toward the levels of income and well-being seen in the most advanced European countries, according to a new OECD report. The Survey, which coincides with the 20th anniversary of the Czech Republic’s accession to the OECD, projects GDP growth of 2.4% this year and 2.6% in 2017.
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OECD Global Economic Outlook June 2016: Czech Republic: Falling public investment is weighing on growth in 2016
GDP growth increased strongly in 2015, partly due to EU-financed public investment. Financial conditions and income growth will continue to support domestic demand, but falling public investment is weighing on growth in 2016. Although gains in market share are likely to be smaller than in recent years, stronger demand from European countries will support export growth, the newest OECD Economic Outlook says about the Czech Republic.
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European Semester: Czech Republic: Challenges include public finances, health care, administrative burden, public procurement
In February 2016, the European Commission published a series of country reports for each Member State, analysing Member States' economic and social policies. In May 2016, based on the analysis presented in the country reports and the dialogue held with Member States, the Commission presented country-specific recommendations for the next 12 to 18 months. The Czech Republic needs to improve sustainability of public finances, health care financing, to lower the existing administrative burden, improve public procurement, increase the cooperation between businesses and universities, increase the attractiveness of the teacher profession and improve inclusion (in eduaction, labor market).
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