In January 2023, the Ministry of Finance of the Czech Republic issued a press release in which it presented its economic forecast for 2023. According to the Ministry, the Czech economy should slow down slightly this year and GDP growth should reach 4.6%, which is slightly lower than the previous year . The Ministry of Finance emphasizes that the main risk for the Czech economy remains global uncertainty, especially in connection with the development of the COVID-19 pandemic and the associated restrictions and impacts on world trade.
However, the ministry also assumes that domestic demand and investment could continue to support the Czech economy. In terms of inflation, the ministry expects that it could fall slightly during 2023, but should still be at a relatively high level of around 4.5%.
Published by team CzechTrade Israel
Source: Ministry of Finance (CR)