The rating is in part owed to the fiscal surpluses of state management and low indebtedness. According to the ERA, the advantages of the Czech economy include high competitiveness, which is evidenced not only by solid GDP growth but also low unemployment, which in 2018 fell below 2 %.
According to the agency, the increase in salaries will in the medium term continue at an above-average rate. But the growth of salaries had climaxed in 2018 (+8 %). The ERA expects the economy of the Czech Republic to slow in 2019 to just below 3 %, primarily due to weaker external demand.
Written by the team of CzechTrade office in Calgary, Canada