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.
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EC Autumn 2016 Economic Forecast: Czech Republic: Growth expected to gather speed but downside risks dominate
The economic growth is expected to fall to 2.2% in 2016 from 4.5% in 2015, largely due to the drop in investment linked to the cycle of EU investment funding. Growth is expected to pick up to 2.6% in 2017 and 2.7% in 2018 as investment activity recovers, also supported by the continuing strength in private and public consumption. The headline government deficit is forecast to decline to 0.2% in 2016, from 0.6% in 2015, but to creep upwards in 2017 and 2018, Autumn 2016 Economic Forecast published by the European Comission says.
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IMF: In some CESEE EU countries, current solid growth may be difficult to sustain
According to the recently published IMF report Central, Eastern, and Southeastern Europe: Effective Government for Stronger Growth, with profit margins near 2009 lows in some and falling appreciably in other CESEE EU countries, the current solid growth may be difficult to sustain. Without a rebound in productivity, which takes time, it may be difficult to achieve durable growth.
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Czech Statistical Office: Share of workers aged 70-74 with tertiary education 3rd highest in EU | PwC: Czech Republic could boost its GDP by 7% by increasing employment rates of people aged over 55
According to the Czech Statistical Office, the number of older workers in management positions (mainly specialists) has been rising. Life expectancy for Czech women is 81.7 years, 75.8 for men (2014 data), compared with 50 and 47 years, respectively, in 1920. PwC Golden Age Index: How well are OECD countries harnessing the power of their older workers? measures the labour market impact of workers aged over 55 in 34 OECD countries, including employment, earnings and training. The Czech Republic ranks 18th, improving steadily.
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