Czech Republic Economic Snapshot

Economic Forecast Summary (November 2022)

Economic Outlook Note - Czech Republic

GDP growth will slow from 2.4% in 2022 to -0.1% in 2023, before picking up to 2.4% in 2024. Higher energy and commodity prices and supply disruptions to gas and oil imports from Russia have triggered steep rises in the cost of living and a risk of energy shortages. Lower global growth, persistent constraints in global supply chains and tight financing conditions will hold back activity in 2023. Inflation will start subsiding in 2023 but will remain well above the 2% target.


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Reform Priorities (April 2021)

Going for Growth 2021 - Czech Republic

The recovery offers an opportunity to focus on productivity-enhancing investment and upskilling, including better targeting of R&D support and improved business environment.

©Shutterstock/Anton Petrus

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2021 Structural Reform Priorities

  • Labour market: Make the labour market more fluid and inclusive
  • R&D and digitalisation: Enhance R&D investment and improve business environment
  • Environmental policy: Pursue greener growth
  • Labour market: Reform the pension system and promote longer working lives
  • Public sector efficiency: Improve public sector efficiency by consolidating local government services


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Economic Survey of the Czech Republic (December 2020)

Executive Summary