MF: Industry not threatened in coming heating season

Published: 30.08.2022 Related countries:  Japan Japan

Neither Czech households nor the industry are threatened, at least in the coming heating season, according to an analysis conducted by the Czech Ministry of Finance (MF), which monitored the economic impacts of a hypothetical cut-off from gas supplies from Russia.

This year’s heating season should be covered from domestic reserves and with the help of the LNG terminal in the Netherlands. According to the Ministry, significant macroeconomic impacts of being cut off from Russian natural gas could be expected only at the beginning of the 2023/2024 heating season. Without gas and other substitutes, real GDP would drop 2.9% in 2023 and 1.6% in 2024.