Page 14 - CE Outlook Regions 2023

2.0 Macroeconomic Outlook

2.1 Macroeconomy - Czech Republic

Czechia: key economic figures and forecasts

2016 2017 2018 2019 2020 2021 2022

Nominal GDP (EUR bn) 175 190 201 207 190 202 222

Real GDP (% y/y) 2.5 5.2 3.2 3.0 -5.5 3.6 2.4

Industrial output (% y/y) 0.8 7.5 3.5 0.9 -6.1 10.8 1.9

Unemployment rate (avg, %) 4.0 2.9 2.2 2.0 2.6 3.0

Nominal industrial wages (%
y/y)

Producer prices (avg, % y/y)

Consumer prices (avg, % y/y) 0.7 2.5 2.1 2.8 3.2 3.8 15.0

Consumer prices (eop, % y/y) 2.0 2.4 2.0 3.2 2.3 6.6 15.5

General budget balance (% of 0.7 1.5 0.9 0.3 -5.8 -5.1 -4.6
GDP)

Public debt (% of GDP) 36.6 34.2 32.1 30.0 37.7 42.0 42.9

Current account balance (% of 1.8 1.5 0.4 0.3 2.0 -0.8 -5.1
GDP)

Official FX reserves (EUR bn 81 120 125 132 134 153 140
exc gold)

Gross foreign debt (% of GDP) 81.3 108.4 106.5 108.0 105.8 107.0 83.3

CZK/EUR (avg) 27.03 26.33 25.65 25.67 24.64 25.64 24.60

CZK/USD (avg) 24.44 23.37 21.75 22.93 23.21 21.69 23.90

Source: Thomson Reuters, RBI/Raiffeisen RESEARCH, ING

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