Czech economy to grow by 2.4 percent in 2022, according to banking association forecast

The Czech Banking Association (ČBA) has improved its forecast for the growth of the Czech economy from May’s previous estimate of 1.8 percent to 2.4 percent. In an on-line conference, representatives of the ČBA said that this was due to the Czech economy developing better in the first half of the year than was previously expected.

However, the association expects that the country’s economy will enter a light recession in the second half of 2022. This recession could continue into the next year, and the ČBA has therefore also lowered the country’s forecasted growth from 3 percent to just 1 percent.

In 2021, the Czech economy grew by 3.3 percent.