Deloitte: Czechia facing recession, GDP expected to fall by 1.1 %

The Czech economy is facing a recession this year caused by the energy crisis and inflation, with GDP expected to fall by 1.1 % , Deloitte predicts in its latest report. According to the study, real wages will fall again this year, but unemployment should remain at its current level. Deloitte says the economic downturn will also threaten compliance with the state budget deficit planned at CZK 295 billion.