GDP growth in 2021, driven by gross fixed capital formation, stock renewals and general government consumption, could reach 3.1 %. This follows from the macroeconomic forecast of the Ministry of Finance of the Czech Republic. Thanks to the recovery abroad, the foreign trade balance should also make a positive contribution. While household consumption is likely to stagnate, in 2022 its recovery should accelerate economic growth to 3.7 %. Measures taken to prevent the spread of the pandemic caused a decline of the Czech economy, which reached 5.6 % in 2020.
Source: ČIA NEWS.
Prepared by CzechTrade office in New York.