Economists: Czechia is in recession and its prospects are not good

The Czech economy is in a period of recession-inflation, characterised by high inflation and slow economic growth at the same time, economist Jan Švejnar said on Czech Television on Sunday in a discussion between himself and two other economists. He further stated Czechia and Spain are the only countries currently in recession in Europe, and only three countries have high core inflation (which does not include fluctuating food and energy prices): Czechia, Poland and Hungary.

Fellow economist Jan Gregor pointed out that the situation is made all the more difficult by the fact that the whole of Europe is in a period of economic decline. Mojmír Hampl added that, based on historical experience, Czechia is not good at handling economic crises and the effects of such crises are worse here than in other countries.