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: Global Economic Outlook and Interim Economic Outlook | CNB global economic outlook
In the Global Economic Outlook and Interim Economic Outlook, the OECD projects that the global economy will grow by 3 percent this year and 3.3 percent in 2017, which is well below long-run averages of around 3¾ percent. The Interim Economic Outlook calls for a stronger policy response, changing the policy mix to confront the current weak growth more effectively. It points out that sole reliance on monetary policy has proven insufficient to boost demand and produce satisfactory growth, while fiscal policy is contractionary in several major economies and structural reform momentum has slowed....
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Czech Statistical Office: 126 pensioners per 100 children below 14 years of age in Prague, Královéhradecký, Zlínský regions
The Czech Statistical Office published facts and figures related to the elderly, showing that the number of pensioners is rising. Earlier in January 2016, representatives of WHO, medical staff and hospitals informed that the Czech Republic was not ready for ageing of the society, does not have a system of care for the elderly in place and called for a solution. The pension system changes with every government. This government abolished the second tier of the pension system but has not moved further.
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EC: Winter 2016 Economic Forecast for Czech Republic: Lower but still strong growth, lower public investment, low inflation, accelerated wage rise, slower imports growth
According to the recently published European Commission's European Economic Forecast, the acceleration of economic activity expected in the EU in 2016 is minor: GDP in the euro area is forecast to expand by 1.7% compared to 1.6% last year. Growth should pick-up further to 1.9% in 2017 but this will depend crucially on a rebound in investment, which has so far remained elusive and is sensitive to the materialisation of the risks surrounding the central scenario. As for the Czech Republic, as an exceptional boost to growth from EU co-financed investment fades, growth is expected to slow to 2.3% in 2016 before picking up again to 2.7% in 2017. The headline government deficit is expected to fall to 1.1% of GDP in 2016 and then to 1% in 2017, the forecast says.
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