Czech economists: Pandemic cost 350 billion crowns and 80,000 jobs

The year-long pandemic has brought the sharpest economic downturn since 1991, when the country underwent a transformation to a market economy, the ctk news agency reported.

Economists estimate losses of 300 to 350 billion crowns and 80,000 jobs. The economy fell by a record 5.6 percent in 2020.

David Marek, chief economist at Deloitte, says the economy is unlikely to return to the pre-pandemic level until 2022 or 2023.