Czech Banking Association lowers forecast for this year’s economic growth

The Czech Banking Association has lowered its forecast for the growth of the Czech economy this year. According to the latest prediction by its economic panel, GDP is expected to grow by two percent, compared to the 2.6 percent growth forecast in February.

For 2027, the association expects a return to stronger economic growth of 2.4 percent. Average inflation is also expected to accelerate this year to 2.5 percent, whereas the February forecast predicted inflation at 1.7 percent.