MF: Economic growth to stall, inflation to fall below 10%

(CIANEWS) - Czech economy is going to stagnate in 2023. This stems from the survey of macroeconomic forecasts of the Ministry of Finance(MF), with the participating institutions estimating GDP growth of 0.1%. The inflation rate will fall to 9.7% after this year's 15.4%. An important inflationary factor is the increase in electricity and gas prices, which is gradually reflected in the prices of other goods and services. Real household consumption could fall by 0.8%. Government consumption growth should remain almost flat y/y, but investment growth is expected to slow down. The main driver of economic growth should be the external trade balance. The unemployment rate could rise to 2.9% in the context of weak economic dynamics, according to respondents.



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