The article is devoted to the assessment of the state of the economies of the Visegrad countries in 2022. The first consequences of the new challenges faced by the members of the Visegrad Group, as well as long-standing problems that manifested themselves in crisis conditions, are considered. Special attention is paid to the problem of price growth. The current forecasts regarding the economic dynamics of the V4 in 2022–2023 are evaluated. Based on the analysis of not only the current key challenges, but also the weaknesses and strengths of the Visegrad countries themselves, a possible direction for the future development of the region is outlined. Additionally an assessment of the state of relations with Russia, with an emphasis on the corporate aspect, is given.