The Czech Ministry of Finance (MF) expects real gross domestic
product (GDP) to decline by 5.6% and nominal GDP by 2.2%. Foreign
trade and fixed capital investment are likely to decrease the most.
Household consumption should also be lower (-1.5%). Starting from
H2 2020, economic activity is expected to recover. The ministry
anticipates a general government deficit of 4.1% of GDP. The
inflation forecast for 2020 is 3.2% and for 2021 1.6%. The
unemployment rate could rise to 3.3% and in 2021 to 3.5%. The
ministry predicts economic growth of 3.1% for 2021. q
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