EC lowers growth forecast for Czech economy

The European Commission’s newly published economic forecast expects the Czech economy to grow by 0.1 percent next year.

This is significantly less than the two-percent growth predicted by the Commission in its previous forecast released in February.

According to the European Commission, growth will be hindered by the ongoing war in Ukraine and the related energy crisis.

The Commission also raised its estimate of the inflation rate, which is expected to reach 15.6 percent this year, the highest in the EU after the three Baltic States.

On the other hand, unemployment in Czechia should remain the lowest among the 27 countries this year at 2.7 percent.