The decline of the Czech economy

Published: 15.06.2020 Related countries:  Egypt Egypt

The huge fall of the Czech economy

  The decline of the Czech economy will be massive in 2020

The decline of the Czech economy will be the fifth largest in the world According to the OECD, the Czech gross domestic product (GDP) will fall by 9.6 percent this year. In 2021, there will be an economic recovery and the Czech economy will grow by 7.1 percent. If the second wave of the epidemic came in the autumn and with it a further reduction of the economy, the Czech GDP would fall by 13.2 percent, and next year it would increase by only 1.7 percent. An important factor was the form of quarantine in the Czech Republic. It was decided on one of the most restrictive versions of possible quarantines. Government compensation for damage caused lags far behind other states if we do not take into account promises, but reality. Fears of continued restrictions further affect consumers, who are now afraid to shop