OECD: Czech economy will fall by 6.8%

Published: 07.12.2020 Related countries:  Czech Republic Czech Republic

Czech economy under its pre-crisis level for the next two years.

The performance of the Czech economy will fall by 6.8% y/y in 2020. This stems from an OECD survey. The economy will likely resume growth to 1.5% in 2021 and 3.3% in 2022. Overall, GDP will remain below pre-crisis levels for the next two years. According to OECD, the government should be ready to provide further support in the context of the expected growth in the number of bankruptcies and job losses. It should also focus on more effective retraining and the inclusion of more women in the labour market.

Source: ČIA NEWS, December 7th, 2020
Compiled by the team of CzechTrade office in Riga.