Ministry revises GDP growth predictions, predicts 16 percent inflation in 2022

The Czech Ministry of Finance has revised its estimate for economic growth this year and in 2023. It had previously expected GDP expansion of 1.2 percent this year, but now says 2.2 percent should be achieved.

However it has lowered its outlook for next year, from 3.6 percent to 1.1 percent.

Ministry officials also said they expected 16.2 percent inflation this year, falling to 8.8 percent next year.