Czech GDP to drop 8%, inflation to reach 2.5%

Published: 17.06.2020 Related countries:  Czech Republic Czech Republic

The Czech economy will fall by 8.0% in 2020 due to COVID-19.

The economy will fall by 8.0% in 2020 due to COVID-19. Subsequently, in 2021 it will strengthen by 4.0%. Households' final consumption expenditures will decrease by 4.8% in 2020. They will increase by 4.2% next year. Consumer prices should increase by 2.8% and 2.1%, respectively. The average monthly wage will increase by 2.5% in nominal terms in 2020 and by 5.8% in 2021. This stems from the forecasts by the Czech National Bank (ČNB).

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