Czech Republic’s real GDP will grow 2.2% in 2016. This stems from the Ministry of Finance’s macroeconomic forecast, revised downwards from the originally estimated 2.5%. The ministry has also adjusted the economic growth outlook for 2017 to 2.4% from original 2.6%. The inflation rate prediction for 2016 was cut to 0.5% from 0.6%. According to the authority, the favourable situation on the labour market led to further reduction of the unemployment rate outlook for 2016 (to 4.1% from 4.4%) and for 2017 (to 4.0% from 4.3%).