Czech economy to grow 3.4% in 2018

Published: 01.02.2018 Related countries:  United Arab Emirates United Arab Emirates

Czech Economy will grow little bit slower than in 2017. But still good prognosis for 2018.

Czech economy’s performance in 2018 and 2019 will be driven primarily by domestic demand and investment activity of companies and government institution, the Ministry of Finance has informed. The ministry estimates in the latest macro-economic prediction that the economic growth rate will gradually slow down to 3.4% in 2018 and 2.6% in 2019. The economic performance retained its dynamism in Q3 2017, as real GDP soared 4.7% y/y. GDP adjusted for seasonal and calendar factors grew 5.0% y/y and 0.5% q/q. Household consumption gained 4.1%, mainly thanks to higher wages and salaries, decreasing savings rate, low interest rates and high consumer confidence. International trade also contributed positively. Full-year GDP growth in 2017 is estimated at 4.3%.