2016 OECD Economic Surveys: Czech Republic 2016

image of OECD Economic Surveys: Czech Republic 2016

This 2016 OECD Economic Survey of the Czech Republic examines recent economic developments, policies and prospects. The special chapters cover: Fostering productivity for sustainable convergence; Public sector effectiveness.



Assessment and recommendations

During twenty years of OECD membership the Czech Republic successfully adopted many best practice policies. Since the early 1990s growth has been strong, though volatile, driven by opening markets, inflows of foreign investment supported by a competitive industrial base, a favourable geographical location and good initial conditions. Until the mid-2000s income per head also grew relatively strongly, catching up toward the OECD average (). However, in the aftermath of the crisis, growth almost stopped, mainly reflecting a decline in productivity growth. Growth picked up sharply in 2015 although to a considerable extent it was on account of one-off factors, in particular exceptionally high public investment.



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