Stable economic growth is projected for 2017 and 2018. Solid labour demand will push unemployment towards its lowest rate in the last two decades, supporting consumption. Investment was cut sharply in 2016 due to the transition in EU funding programmes, but is projected to rebound in 2017. Rising cost pressures will push consumer price inflation to the 2% target during 2017.
A city’s brand is pivotal for its position in global society, particularly in global competition. Indeed, a city has many aspects of a commercial product. The very strong international brand that I represent is Prague, the million-strong capital of the Czech Republic. Public perceptions of this brand generally focus on its cultural heritage, such as the Prague Castle and Charles Bridge, as well as its leading industries, science and research. This perception is an accurate one, and is how our city wishes to be seen.
"The number of people employed in R&D has grown by 50% in seven years. An extensive infrastructure of excellent scientific centres has been built in the Czech Republic in recent years. Centres like ELI, CEITEC or IT4Innovations have managed to establish partnerships with foreign partners and have excellent equipment and top scientists at their disposal via their extensive networks."
Czech Republic Snapshot 2013
Find key economic figures and trends for Czech Republic from OECD Yearbook 2013
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