Last year was one of the most successful in the history of the Czech economy. The recovery, which began a year earlier, gained momentum and the growth rate reached 4.3 percent.
Stable economic growth, according to the Governor of the Czech National Bank Miroslav Singer, was based on monetary easing through the weakening of the koruna and low interest rates, fiscal discipline, stronger absorption of EU funds, and an increase in personal consumption. More about the tools of central banks for stimulating economic growth will be discussed by Governor Singer at the Lider Regional Governors’ Meeting, which is held for the fourth consecutive year from March 31 to April 1 in Rovinj.
Namely, the Czech National Bank has used the exchange rate as a monetary policy instrument for the last two and a half years. Thanks to the weakening of the koruna, it avoided the looming deflation and stimulated economic recovery, and this year it expects further GDP growth at a rate of 2.7 percent. The Lider Regional Governors’ Meeting traditionally gathers the leaders of central banks from Montenegro, Serbia, North Macedonia, Croatia, Slovenia, and Montenegro. In addition to the governors, representatives of commercial banks will participate in the meeting to enhance cooperation between financial institutions in the region and exchange experiences in combating and mitigating the effects of the financial crisis.
