GDP in the Czech republic to drop 7.5%, economy to recover in Q3

Published: 28.07.2020 Related countries:  Egypt Egypt

Statement of the Czech Banking Association (ČBA)

CBA (Czech Banking Association): GDP to drop 7.5%, economy to recover in Q3
Banks’ chief economists generally expect that Czech economy will
start to recover from Q3 2020. However, they differ in their outlook
on the speed and strength of the recovery, which is reflected in the
forecast of the depth of this year's economic downturn. This stems
from the macroeconomic forecast of the Czech Banking Association
(ČBA). The resulting consensus is that Czech GDP will fall by 7.5% in
2020. For 2021, the ČBA forecast panel agrees on a return to
relatively dynamic economic GDP growth of 5.3% y/y.

Source: CIA News
Prepared by the team of CzechTrade Cairo