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Economy is Dominated by Industry

The Czech economy did unexpectedly well in 2015 and the trend remains positive also in 2016. Although there is no chance of surpassing last year’s record 4.6 % growth, overall economic performance is still very good due to growing domestic and foreign demand. The manufacturing industry, the country’s largest employer, continues to be the main motor force of GDP growth. In addition, the industry continues to participate signifi cantly in the creation of new jobs, leading to an accelerated growth of real wages, without there being any signs of overheating in the form of growing infl ation. The position of the Czech economy in relation to other countries is signifi cantly improving, while internal imbalances are receding. The state debts are being reduced and there is a good chance that this year again public budgets will be nearly balanced. The exchange rate regime, which does not allow for any strengthening of the crown beyond the 27 CZK/EUR limit, remains in force and both the offi  cial and market interest rates remain at a record low level.

Full article you can find: https://issuu.com/ppagency/docs/db_aj_2017_web/21