Czech economy will grow by 3.2%

Published: 03.03.2021 Related countries:  Czech Republic Czech Republic

The economic growth in the Czech Republic will likely reach the level of +3.2% in 2021 after a drop of 5.7% in 2020.

The economic growth in the Czech Republic will likely reach the level of +3.2% in 2021 after a drop of 5.7% in 2020. The dynamic will likely accelerate to 5% in 2022. This stems from the winter forecast published by the European Commission (EC). EC expects the economic recovery to begin in 2Q 2021. The growth will likely be driven by the private consumption reflecting the stable situation on the labour market and deferred demand. After reaching 3.3% in 2020, inflation will likely slow down to 2.5% in 2021 and 2.2% in 2022.

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