2018 OECD Economic Surveys: Czech Republic 2018

image of OECD Economic Surveys: Czech Republic 2018

The economy of the Czech Republic is thriving, growth is high, unemployment rate is low and fiscal stance is positive. Strong demand from the external sector and household consumption boosted by high increases in wages are driving growth. However, labour productivity remains low contributing to maintaining low wages. Deeper structural reforms and investment in skilling, education, R&D and innovation are needed to support further convergence towards OECD standards.


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Basic statistics of Czech Republic, 2017

(Numbers in parentheses refer to the OECD average)

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of the Czech Republic were reviewed at a meeting of the Economic and Development Review Committee on 5 June 2018. The draft was revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 22 June 2018.The Secretariat’s draft report was prepared for the Committee by Falilou Fall and Daniela Glocker under the supervision of Piritta Sorsa. The draft has benefitted from valuable background research by Ales Belohradsky, seconded from the Ministry of Finance of the Czech Republic. Statistical research was provided by Béatrice Guérard. Assa Fofana formatted and produced the layout.The previous Survey of Czech Republic was issued in June 2016.


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