Czech Chamber of Commerce expects consumption-driven 2% economic growth in 2024

Published: 12.07.2023 Related countries:  United Kingdom United Kingdom

The Czech Chamber of Commerce (Hospodářská komora ČR) expects the local economy to increase its performance by 2% in 2024

President Zdeněk Zajíček said the revival would be more gradual than expected this February. The reason is mainly the impact of the government consolidation package. Companies will invest more carefully in more efficient production processes and expansion. The strongest growth factor should be the renewed consumption by households, as wages start to return to growth in real numbers as well. According to the new forecast, the unemployment rate will not return to record lows despite the economic revival. A slight increase in unemployment is expected due to legislative changes in the area of agreements on work performance and agreements on work activity.

Source: CIA News