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Fiscal Outlook of the Czech Republic (January 2021)

Fiscal Outlook of the Czech Republic (January 2021)

The Czech economy did not escape the economic downturn either. We expect gross domestic product to decline by 6.1% in 2020. Except for public expenditure, the decline was seen in all its components. The recovery in 2021 should be gradual. The development of the economy, the solution of the epidemic and the package of stimulus measures significantly affected the performance of public finances in the Czech Republic. The general government balance probably ended with a deficit of −5.8% of GDP and the debt rose to 38.3% of GDP at the end of 2020 […]