OECD adjusts Czech economic outlook to 2.5 % growth

Published: 08.12.2021 Related countries:  United Kingdom United Kingdom

After contracting sharply in 2020, GDP is projected to grow by 2.5 % and 3 % in 2021 and 2022, respectively, and 3.9 % in 2023. The removal of most containment measures amid steady progress with vaccinations will support a rebound in services and boost household consumption.

After a dramatic economic decrease in 2020, the OECD expects the Czech Republic's GDP to grow 2.5 % in 2021 and 2022 and 3.9 % in 2023. In the meantime, exports and production activities will be facing restricted supplies until mid-2022. According to the OECD, unemployment will continue to drop. The currently high inflation should continue growing at the beginning of 2022 and decrease to the target value of 2 % at the end of 2023.

Source: CIA News