IMF improves Czech economic outlook, predicts 1.1% growth for 2024

The International Monetary Fund (IMF) has revised its outlook for the Czech economy, forecasting a 1.1% GDP growth for 2024, up from the 0.7% predicted in April. This follows a 0.1% decline in 2022. For 2024, the IMF expects a 2.3% growth, slightly below the Czech Finance Ministry's estimate of 2.7%. Among Visegrád countries, the Czech Republic is projected to have the lowest growth this year. Inflation is expected to slow to 2.3% in 2023, with a further decline to 2% next year. Unemployment is forecasted to rise slightly to 2.8% before dropping to 2.5% in 2025.