MF worsens economic forecast to 0.2% drop

(CIANEWS) - The Ministry of Finance (MF) expects the gross domestic product for 2023 to drop 0.2%. Adjusted for calendar influences, it should stagnate. The Ministry’s August forecast thus sees the Czech economic performance as slightly weaker than in April, mainly because of a more perceptible decrease in household consumption and a lower increase in investments. However, the economic activity will be slightly dampened by the impacts of the consolidation package. This year’s average inflation rate should reach 10.9% and drop to 2.8% in 2024. The average unemployment rate of 2022 was 2.3%. It might increase to 2.8% in 2023 and drop to 2.7% in 2024.



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