IMF downgrades growth forecast for Czechia

The International Monetary Fund has downgraded its global growth forecast and forecast for individual states for 2023.  It predicts a slowdown in Czech economic growth this year to 1.9 percent down from 3.5 percent last year. Its last prediction for this year’s growth, released in April, was 2.3 percent. Global growth is expected to slow to 2.7 percent in 2023.

Czechia has an export dependent economy and its performance is closely linked to that of its trade partners, particularly neighboring Germany.