Macro - Country Economic Forecasts - Czech Republic
We have cut our 2022 growth forecast sharply by 1.2pp to 1.9% following Russia's invasion of Ukraine. Higher inflation due to soaring commodity prices is the main cuplrit, but supply chains, the exchange rate and trade will all be negatively affected. We expect the economy to rebound in 2023, growing 3.4% as many of the adverse factors from this year subside.
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