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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Spotlight issue
Ministry of Industry and Trade: Czech export hit record high in 2015 | CzechTrade: 122 new orders worth CZK 1.3bn for Czech companies in 2015
Czech export hit record high in 2015, reaching almost CZK 4 trillion, the Czech Minister of Industry and Trade Jan Mládek informed and listed some of the attractive markets for Czech companies. Also, the CzechTrade government agency facilitated new orders worth CZK 1.3bn in 2015 and plans to open four new offices worldwide.
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OECD: Czech R&D expenditures of 2% of GDP slightly above EU average, bellow OECD average. UNESCO Women in science data inside
OECD recently published data on R&D expenditures for 41 countries, including the Czech Republic. The country, with R&D expenditures amounting to 2% of GDP (622.9 USD per capita (2014)) ranks slightly above the EU average, but bellow the OECD average. South Korea spends 4.29% of its GDP on research and development, followed by Israel with 4.11% and Japan with 3.58% of GDP in 2015.
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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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