Czech Economic Outlook for 2023

Published: 27.02.2023 Related countries:  U.S.A. U.S.A.

2023 economic outlook in the Czech Republic continues to point towards a recession. Expected post covid recovery may come in the second half of the year.

In Czech Republic the GDP is expected to fall by 1.1%, with an average inflation reaching 8.5%.

The energy crisis, supply chain issues, and high inflation – these are the three fundamental factors that influenced the Czech economy in 2022 and will continue to do so in 2023. The originally expected recovery after the covid pandemic did not occur and, on the contrary, the economy of the Czech Republic slid into a recession. This trend will continue in the first half of 2023, with a slight recovery in the second half of the year.


Presented by the team of employees of CzechTrade Chicago, USA.