Czech GDP fell by 5.6 percent last year
In the Czech Republic, gross domestic product (GDP) fell by 5.6 percent year-on-year last year, the Czech Statistical Office (CSÚ) announced on Friday. This is the biggest economic downturn since the formation of the independent Czech state (1993).
Over the past six years, Czech GDP has been growing steadily.
In the last quarter of last year, the year-on-year decline was 4.8 percent, while compared to the previous quarter, it was already up 0.6 percent.
Last year’s performance was also fundamentally affected by the coronavirus pandemic from an economic point of view. (MTI)
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