IMF Concludes Article IV Consultation with Czech Republic - July 1999 - selected indicators
Czech Republic: Selected Economic and Financial Indicators
| 1994 | 1995 | 1996 | 1997 | 1998 | |
|---|---|---|---|---|---|
| (Change in percent) | |||||
| Real Economy | |||||
| Real GDP | 2.7 | 6.4 | 3.8 | 0.3 | -2.3 |
| Consumer prices | |||||
| Period average | 10.0 | 9.1 | 8.8 | 8.4 | 10.7 |
| End-period | 10.2 | 7.9 | 8.6 | 10.0 | 6.8 |
| Unemployment rate (end of period) | 3.3 | 3.0 | 3.1 | 4.3 | 6.0 |
| Gross national savings (in percent of GDP) 1/ | 26.1 | 28.2 | 24.9 | 23.7 | 25.3 |
| Gross domestic investment (in percent of GDP) | 28.7 | 32.0 | 31.8 | 30.2 | 27.5 |
| (In percent of GDP) of beginning of period broad money) | |||||
| Public Finance 2/ | |||||
| Revenues | 46.4 | 45.1 | 43.2 | 41.8 | 41.5 |
| Expenditures | 46.0 | 44.9 | 43.6 | 43.1 | 43.0 |
| Deficit (-) | -1.2 | 0.2 | -0.4 | -1.4 | -1.4 |
| Gross debt (central government) | 13.8 | 11.2 | 9.9 | 10.3 | 10.7 |
| Loan guarantees outstanding | ... | ... | ... | 15.0 | 15.4 |
| (year-on-year change in percent | |||||
| Money and Credit (end of period) | |||||
| Broad money | 19.9 | 19.8 | 9.2 | 10.1 | 5.2 |
| Credit to enterprises and households | 16.6 | 12.7 | 9.7 | 8.7 | -2.4 |
| Net foreign assets | 11.2 | 10.6 | -1.7 | 6.4 | 5.9 |
| (In percent) | |||||
| Interest Rates (average) 3/ | |||||
| Lending rate | 12.9 | 12.8 | 12.5 | 13.9 | 10.7 |
| Deposit rate | 6.9 | 6.9 | 6.7 | 8.1 | 7.3 |
| (US$ billions) | |||||
| Balance of Payments | |||||
| Trade balance | -1.3 | -3.7 | -5.9 | -4.5 | -2.6 |
| Current account | -0.8 | -1.4 | -4.3 | -3.2 | 1.1 |
| (Percent of GDP) | -1.9 | -2.7 | -7.6 | -6.2 | -1.9 |
| Gross official reserves (end of period) | 6.2 | 14.0 | 12.4 | 9.8 | 12.6 |
| Reserve cover (months of merchandise imports) | 4.3 | 6.7 | 5.4 | 4.3 | 5.2 |
| External Debt, end of period | |||||
| External debt in convertible currencies | 10.7 | 16.5 | 20.8 | 21.4 | 24.0 |
| (SDR millions) | |||||
| Fund Position 4/ | |||||
| Quota | 819.30 | ||||
| Fund holdings of currency | 819.30 | ||||
| (In percent of quota) | 100 | ||||
| Exchange Rate | |||||
| Exchange rate regime: | Currently a managed float; until May 27, 1997, pegged to a DM/US$ basket with fluctuation margins | ||||
| Present rate (July 14, 1999) | CZK 36.500 = EURO 1 | ||||
| Nominal effective exchange rate 5/ | -0.2 | -0.9 | 1.0 | -3.7 | -0.6 |
| Real effective exchange rate | |||||
| (ULC-based) 5/ | 9.0 | 4.2 | 5.9 | -0.3 | 8.5 |
Sources: Data provided by the Czech authorities; and Fund staff estimates.
1/ Includes statistical discrepancy (in contrast to official statistics which include the discrepancy in domestic investment)
2/ General government. Includes privatization revenues.
3/ Average rate in last quarter.
4/ As of May 31, 1999
5/ Percent change. Increase = appreciation.
July 1999