CIANEWS) - According to the International Monetary Fund (IMF) forecast, the Czech Republic's gross domestic product (GDP) will grow by 2.3% in 2022. In 2023, it will show a decline of 0.5%. The development will be affected by lower purchasing power of households and lower investment by companies. The IMF has recommended raising interest rates to contain inflation. Migration and integration of Ukrainian refugees would help alleviate labour shortages and reduce labour market tensions, according to the IMF. The analysis was published by the Ministry of Finance.