Hi, this is Krystof Chamonikolas and Andrea Dudik in Prague. Welcome to our weekly newsletter on what’s shaping economics and investments from the Baltic Sea to the Balkans. You can subscribe here.

The Czech economy was one of the most dynamic in Europe two decades ago. But the outperformer has turned into a laggard since the start of the coronavirus pandemic because of a dearth of foreign investment and subdued consumer demand after a period of rampant inflation.