OECD: Czech economic growth to reach pre-coronavirus crisis level by end 2022

The Czech economy should recover to growth levels achieved before the coronavirus pandemic by the end of 2022, OECD Secretary General Ángel Gurría told a news conference on Friday, presenting a regular report. The OECD has estimated the Czech economy will shrink by 6.8 percent this year, that GDP will rise by 1.5 percent in 2021, and by 3.3 percent the year after that.

In its November forecast, the Czech National Bank estimated that the economy would decline by 7.2 percent this year and grow by 1.7 percent next year. According to the CNB, the performance of the Czech economy will not reach the pre-crisis level even at the end of 2022. The OECD expects unemployment and the number of failing companies to rise gradually.

Author: Brian Kenety