Country Economic Forecasts - Czech Republic
We have lowered our 2020 GDP growth forecast significantly to -0.8% following the rapid spread of COVID-19 throughout Europe, prompting a flurry of severe containment measures. A sharp recession now seems inevitable, but we expect a strong rebound towards the end of the year. The shock is likely to hit all parts of the economy as some sectors contract sharply. We see the recovery continuing in 2021, with growth now forecast at 3.4% as containment measures are eased once the outbreak is under control.
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