The Czech Republic economy forecast for upcoming two years

Published: 12.11.2020 Related countries:  United Arab Emirates United Arab Emirates

GDP in CR to fall by 6.9% and in SR by 7.5% The output of the Czech economy will fall by 6.9% in 2020.

The Czech economy will then see growth by 3.1% in 2021 and 4.5% in 2022. This is estimated by the autumn prediction of the European Commission (EC). The inflation will likely reach 3.4% in 2020 and it will likely slow down to 2.0% in the next two years. Unemployment in the Czech Republic will increase from 2.7% in 2020 to 3.3% in 2021. EC then expects a decrease to 3.2% in 2022. Czech public debt will likely increase by 7.7 pp to 37.9% of GDP in 2020 (2021: 40.6%; 2022: 42.2%).