Czech economic output could fall ten percent this year according to Deloitte’s chief economist David Marek. He said the result would be accompanied by a tripling of the unemployment rate, lower trade and a drop in inflation. Finally, he predicts that the country’s public deficit could exceed 5 percent of GDP, but added that this would still be among the lowest rates in Europe. He based his figures on a sharp decline in economic activity lasting two months. He added that it was necessary to take all economic predictions as speculative since it was still unclear how long the current crisis will last and how it would damage the economy. He expects the construction, airline and tourism sectors to be hard hit, agriculture, energy and most service-oriented companies would be less affected. Industrial output, however, could fall as much as 16 percent.
