In the new forecast, the Czech Banking Association expects that the economy will decline by an average of 7.5 percent this year due to the effects of the spread of coronavirus. Next year, the economy should return to 5.3 percent growth. Current CBA estimates do not anticipate a possible second wave of the pandemic in the autumn, nor the repetition of widespread measures against the spread of coronavirus infection in the event that the number of infected increases sharply. Such comprehensive measures could further worsen the economic outlook.
Prepared by the team of foreign office CT San Francisco