Mediafax (Mediafax)
Macroeconomics  |  April 12, 2013 16:08:44

Real wages or GDP will not grow and unemployment will increase, estimated Kalousek

Latest statistics on real development of the gross domestic product of the Czech Republic last year show a decline of 1.3 percent, while the economy is in recession throughout the year. The slump should the economy get while in the first half of 2013, reviving economic activity will be according to the Ministry still very slow.

The driving force of the economy should be this year, mainly by net exports and to a lesser extent, gross capital formation. Since these two components of the resort finance promises that could offset the decline in household consumption. "In 2014, GDP could increase by 1.2 percent, while positive contribution to foreign trade and gross domestic expenditure. At the same time, we expect a slowdown in consumer prices to 1.7 percent," the ministry said.

Employment, which last year increased by 0.4 percentage points this year, probably by 0.2 percentage point drop in 2014 should stagnate. Growth in wages and salaries in that year could reach 1.4 percent in 2014, then 2.7 percent. In both years, the growth rate of wages and salaries was slightly outpace nominal GDP growth.

The greatest risk of these estimates are in accordance with Treasury primarily influences arising from the external environment, especially due to the decline in GDP in the euro area, which goes to 0.3 percent of domestic exports.

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Reálné platy ani HDP neporostou a nezaměstnanost se zvýší, odhaduje Kalousek

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