EBRD reduces 2024 outlook for Czech economy

The European Bank for Reconstruction and Development has downgraded its outlook for the Czech economy this year. The EBRD said on Wednesday that it now expected Czechia’s gross domestic product to expand by only 0.1 percent in 2023, down from the 2.5 percent it predicted last September.

The institution said the Czech economy should benefit from a slight recovery in consumption and investment this year, though demand will be sluggish.

The EBRD said Czech GDP should grow by 2.5 percent in 2025.