EC: GDP to grow 3%, CR may make structural changes

7. 3. 2018

Czech Republic is well-positioned to adopt the requires structural changes after having reached GDP growth of 4.5% in 2017.

(ČIA) Czech Republic is well-positioned to adopt the requires structural changes after having reached GDP growth of 4.5% in 2017. This stems from an analysis by the European Commission (EC). EC predicts that the economic growth rate will slow down to 3.0% in 2018 and 2019. EC has informed that CR has made progress in long-term sustainability of public finance, youth employment, fight against corruption, public contract awarding and simplification of building permit proceedings. Problematic items include increasing complicacy of the tax system, growing housing costs, low attractiveness of the teacher profession, e-government below EU average and higher spending on pensions due to the population’s ageing.