(last updated on Jan 8 with Nov foreign trade and end-Dec forex reserves)
and 2008 government debt
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KEY INTEREST RATES 2-WEEK REPO DISCOUNT LOMBARD
rate 2.25 pct 1.25 pct 3.25 pct
last changed
(date of decision) Dec 17, 2008 Dec 17, 2008 Dec 17, 2008
former rate 2.75 pct 1.75 pct 3.75 pct
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CZECH GDP (in pct) Q3/08 Q2/08 Q3/07 2007
Real change yr/yr 4.2 4.6 5.8 5.9
Final consumption 2.7 2.9 4.0 3.8
Household 2.5 3.2 5.5 5.2
Government 3.7 2.4 0.3 0.4
Gross capital formation -2.0 -4.0 7.2 8.4
fixed capital formation 4.5 5.9 6.0 6.7
Foreign trade balance n/a n/a n/a n/a
exports of goods 4.0 13.4 16.8 15.7
export of services 12.7 17.4 12.8 9.6
imports of goods 1.0 9.4 15.9 15.0
imports of services 7.2 12.0 12.9 8.3
NOTE. All current data are seasonally adjusted and those from previous
quarters are revised. In the third quarter, GDP totalled 780.7 billion crowns in
seasonally adjusted constant prices of 2000.
CONSUMER INFLATION 11/08 10/08 11/07
pct change month/month -0.5 0.0 0.9
pct change year/year 4.4 6.0 5.0
NOTE: The average rate of inflation over the past 12 months was 6.5 percent
in November.
CZECH BALANCE OF PAYMENTS 10/08 09/08 10/07 01-10/08
(CZK billions)
I. CURRENT ACCOUNT -21.99 -12.10 -12.57 -82.41
Trade balance -0.63 13.74 11.48 109.45
Balance of services 5.55 6.52 3.46 71.10
Income balance -24.53 -29.83 -23.12 -256.44
Current transfers -2.37 -2.52 -4.39 -6.52
II. CAPITAL ACCOUNT 0.66 0.35 2.29 22.26
III. FINANCIAL ACCOUNT 11.61 24.88 10.88 85.22
Net Direct Investment 17.36 16.41 20.11 138.65
Czech abroad -1.28 -3.82 -1.68 -18.26
Into Czech Republic 18.64 20.23 21.79 156.90
Net Portfolio Investment -3.63 -5.80 8.16 31.11
Assets 19.84 -3.53 -17.39 -4.21
Liabilities -23.48 -2.27 25.55 35.32
Other Investments -0.24 12.39 -14.21 -44.32
Change in foreign exchange
reserves (minus = growth) -1.88 1.88 -0.59 -40.22
IV. BALANCE OF OMISSIONS &
EXCHANGE RATE ADJUSTMENTS 9.72 -13.13 -0.60 -25.07
NOTE. All 2008 figures are subject to revision. The 2007 figures are
revised. The CNB releases the monthly figures according to ECB methodology.
CZECH STATE BUDGET 01-12/08 01-11/08 01-12/07
revenue (CZK bln) 1,064.57 946.98 1025.88
expenditure 1,083.94 953.49 1092.97
balance -19.37 -6.52 -66.39
NOTE. The full-year 2008 budget was approved by parliament with a gap of 70.8
billion crowns. Following changes on June 30, the new deficit was planned at
71.34 billion crowns.
FOREIGN TRADE 11/08 10/08 11/07 01-11/08
(in bln CZK)
exports 194.73 217.45 237.33 2,309.78
imports 195.20 221.40 224.80 2,228.60
balance -0.47 -3.95 12.53 81.18
DYNAMICS OF TRADE (pct y/y change in CZK terms)
nominal exports -18.0 -10.7 12.6 0.3
nominal imports -13.2 -5.9 9.3 0.8
NOTE. All data are subject to further revision. Numbers may not add up due
to rounding.
CZECH FOREX RESERVES END-DEC 08 END-NOV 08 END-DEC 07
euro bln 26.576 27.106 23.705
$ bln 36.995 34.496 34.905
CZK bln 715.695 683.330 631.016
NOTE. The central bank said it sold foreign currency worth an equivalent of
54 million euros in spot foreign exchange market operations in November. It sold
foreign currency worth 44.9 million euros in client operations in November.
CZECH M2 MONEY SUPPLY END-NOV 08 END-OCT 08 END-NOV 07
M1 change yr/yr 8.1 6.5 11.4
M2 change yr/yr 7.9 8.3 11.3
Loans to businesses
and households yr/yr 18.6 19.9 24.3
M2-M1 (deposits) yr/yr 7.5 10.9 11.2
