Further monetary policy tightening may be needed to ensure that inflation targets are met. Greater fiscal consolidation in 2007 would both help to damp inflationary pressures and create a larger safety margin for respecting the Maastricht fiscal criteria. Labour market reforms are needed to bring the long-term unemployed back into employment.

Population (000s), 2005	5 387
Area (000 sq km)	49
Currency	Koruna
GDP (Billion USD), 2005	81
Life expectancy at birth (Women, Men), 2004	77.8, 70.3
Total labour force (000s), 2005	2 646
Government type	Parliamentary Democracy

Indicators	% change unless otherwise indicated
	2006	2007	2008
GDP growth	8.2	8.0	5.7
Consumer price index	4.5	2.8	2.2
Unemployment rate (%)	13.5	12.2	11.7
General government financial balance (% GDP)	-3.7	-2.7	-2.2
Current account balance (% GDP)	-6.4	-3.9	-3.3

Source: OECD©OECD Observer No. 258/259, December 2006