Investor Presentaiton
1 A resilient economy with below average indebtedness as % of GDP, substantial foreign
currency reserves and unemployment among the lowest in the EU, rated Aa3 / AA / AA-
GDP & GDP Real Growth, 2018 - 2022
Inflation Rate, 2018 - 2022
Avg. inflation rate of
4.2% vs. 2.1% in the EU(1)
4,4%
Avg. real growth of 1.2% vs
0.7% in the EU(1)
9.3%
0,4%
0,2%
0,3%
0,3%
550
3,2%
3,0%
3,2%
508
4%
2%
457
2,7%
2,9%
500
474
0%
2,1%
3,2%
3,8%
-2%
445
438
450
-4%
-5,8%
-6%
400
-8%
2018A
2019A
2020A
2021A
2022E
2018A
2019A
2020A
GDP ($ Intl. PPP)
GDP Real Growth (% p.a.)
I Inflation (CPI, % p.a.)
2021A
Interest Rate (% p.a.)
2022E
Unemployment Rate, 2018-2022
6.9% in the EU(1)
2,2%
2,0%
2,6%
2,8%
2,6%
Public Debt as % of GDP, 2018 - 2022
Czech Macro Developments
Robust medium-term growth dynamics and broad economic
resilience in the midst of current geopolitical crisis
ā Record levels of employment, labour market cushioned by the
wage-subsidy scheme introduced during the pandemic
Liquid and well capitalised banking system
Central bank reacted to rising inflation figures by a sharp
tightening of its monetary policy
Rating agencies have reaffirmed their views on the Czech
economy
Rating Agencies' Views
88.1% in the EU(1)
MOODY'S
Aa3 (Stable)
"Czech Republic's credit profile is supported by a strong
government balance sheet ... and track record of
economic resilience..."
42,7%
43,0%
37,8%
32,0%
30,0%
S&P Global
Ratings
AA- (Stable)
2018A
2019A
2020A
2021A
2022E
2018A
2019A
Unemployment Rate (%)
9
Source: Rating Agency reports, EIU.
Note: (1) EU considers EU-27 as of 2020.
2020A
2021A
Debt-to-GDP Ratio (%)
2022E
Fitch Ratings
AA- (Negative)
Moody's, April 2022
several years of strong economic growth before the
pandemic; strong external balance sheet; tight fiscal
management..."
S&P Global Ratings, April 2022
"...balances its record of credible macroeconomic and
monetary policies... very strong external finances..."
Fitch Ratings, May 2022
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