Finance Ministry downgrades economic growth estimate, ups inflation forecast

The Ministry of Finance has downgraded its estimate of Czech economic growth for 2022 to 1.2 percent down from 3.1 percent in January. In its latest forecast the ministry also upped its inflation estimate to 12.3 percent. According to the forecast, the deficit in public finances should fall to 4.5 percent of the GDP this year and to 2.7 percent by 2025. The national debt is expected to rise to 45.4 percent of the GDP by 2025.