OECD Economic Outlook, Volume 2021 Issue 1
The COVID-19 pandemic continues to cast a long shadow over the world’s economies. The OECD Economic Outlook, Volume 2021 Issue 1, highlights the improved prospects for the global economy due to vaccinations and stronger policy support, but also points to uneven progress across countries and key risks and challenges in maintaining and strengthening the recovery.
This issue includes a general assessment of the macroeconomic situation, and a chapter summarising developments and providing projections for each individual country. Coverage is provided for all OECD members as well as for selected partner economies.
Also available in: French
Czech Republic
After contracting sharply in 2020, GDP is projected to recover by 3.3% and 4.9% in 2021 and 2022, respectively. The Czech Republic has experienced one of the highest infection and death rates in the OECD area and progress in vaccinations has been relatively slow, delaying the relaxation of containment measures. The recovery will nevertheless gather pace in the second half of 2021, once the population is more extensively vaccinated, triggering a rebound in services and boosting private consumption and investment. Inflation has picked up due to rising food and fuel prices. It is expected to remain between 2 and 3% in the latter half of 2021 and in 2022. Unemployment will start to decline.
Also available in: French
- Click to access:
-
Click to download PDF - 547.67KBPDF