IMF: GDP to grow 2.6% in 2021

Published: 24.11.2021 Related countries:  Czech Republic Czech Republic

International Monetary Fund changes its forcast for the Czech economy.

Czech economy will grow by 2.6% in 2021 and 3.5% in 2022. This is predicted by the International Monetary Fund (IMF), adding that pent-up demand will continue to boost private consumption. In addition, public consumption will fall as support measures are withdrawn. At the same time, the IMF expects unemployment to remain low, wages to continue to rise and exports to recover. Inflation is expected to remain elevated in 2022 on account of overheating in the labour and housing markets. External factors will include supply chain disruptions and high energy prices.

Source: ČIA NEWS, November 24th, 2021, www.cianews.cz/en
Compiled by the team of CzechTrade office in Latvia.