Vaccine brings prospects of economic growth

The arrival of the vaccine against Covid-19 has brought more optimism on the economic front as well. Economists predict that after this year's decline of 7.1 percent, the Czech economy should return to growth next year, by 3.3 percent. Inflation is expected to fall from over 3 percent this year to 2 percent in 2021. On the contrary, unemployment should rise.

According to the Ministry of Finance the coronavirus pandemic will continue to negatively affect the domestic economy in the first half of 2021, but the outlooks for the second half have improved, with a projected growth of over 3 percent in 2021 and a further acceleration in the following year.