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OECD Economic Outlook for Czechia (June 2023)
According to OECD, GDP growth in Czechia will slow to 0.3% in 2023, before picking up to 2.4% in 2024. In 2023, high energy prices, tight financing conditions and weak sentiment will hold back private investment, and still elevated inflation will constrain private consumption. Private consumption will pick up in 2024, underpinned by growing real wages. Inflation will start falling from currently high levels but will only approach the 2% target towards the end of 2024. The unemployment rate will remain low, close to 3%.
Strategic Directions for Czech Economic Policy
- Transition to High-Tech Manufacturing and Exports
- The City Campus as Idea Factory
- Government Programs and Processes That Drive Innovation
- Government as a Competitive Advantage, including Digitization
Advocacy Priorities for 2023
Technology, People, Infrastructure
Actions Recommended in Areas:
1. Establishing Policy Objectives for Research.
2. Research Investment and Cooperation. Big Bets (Key Technology Projects).
3. Establishing Databases for Tracking Public Policy Outcomes.
4. Public Procurement as an Innovation Tool.
5. Immigration of STEM Talents.
6. Digitization of Immigration.
7. Adult Reskilling and Upskilling.
8. Digitization of Land Use.
9. Infrastructure Development, including Technology Parks.
Read the documents in English and Czech.
Policy pipeline
In Policy Pipeline policy developments in the Czech Republic and abroad are monitored to bring better understanding of current topics and trends.
