Czech Republic: Staff Report for the 2003 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 002

Publication date: January 2004

ISBN: 9781451810073

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , deficit , producer price deflation , growth prospect , inflation projection , CNB's decision , headline inflation , Inflation , Inflation targeting , Privatization , Europe , Western Europe

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Summary

The Czech economy has turned in a solid performance, and the medium-term prospects are good. The short-term outlook is positive, although downside risks are significant The outlook for low underlying inflation leaves scope for monetary policy to continue to support growth. The government's resolve to address the deterioration in the fiscal accounts has been commended. The challenge now is to implement the proposals and prepare for medium-term output. Redressing shortcomings of the judicial and legal systems is the top priority for structural reform.