Czech Republic: Staff Report for the 2001 Article IV Consultation

After three years of recession, the economy grew by 2.9 percent in 2000, supported by a revival of investment in primarily foreign-owned firms and a modest increase in household consumption. Against the background of a still nascent recovery, fiscal policy was expansionary in 2000, with the general government deficit (excluding privatization receipts and bank restructuring costs) increasing by nearly 1 percentage point to 4.1 percent of GDP. Executive Directors noted that flexibility in the conduct of monetary policy is key to ensuring that inflation remains under control.
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Volume/Issue: Volume 2001 Issue 110
Publication date: July 2001
ISBN: 9781451810042
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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.

Business and Economics , Exports and Imports , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , privatization receipt , deficit , bank privatization , headline inflation , price pressure , inflation outcome , June inflation figure , government privatization receipt , consumer price inflation , Inflation , Privatization , Global , Africa

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Summary

After three years of recession, the economy grew by 2.9 percent in 2000, supported by a revival of investment in primarily foreign-owned firms and a modest increase in household consumption. Against the background of a still nascent recovery, fiscal policy was expansionary in 2000, with the general government deficit (excluding privatization receipts and bank restructuring costs) increasing by nearly 1 percentage point to 4.1 percent of GDP. Executive Directors noted that flexibility in the conduct of monetary policy is key to ensuring that inflation remains under control.

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