CZECH RESPONSE TO THE POST-PANDEMIC
Ing. Renata Cuhlova, Ph.D, BA (Hons)
Abstract
Despite the strong interconnectedness and deep integration in the European economy, Czechia has been in comparison with Western European countries less impacted by the during the spring peak of Covid-19 pandemic. Moreover, the local situation has been thanks to the specific steps called as exemplary and seems to be managed successfully as well as within the whole Central and Eastern European region. The development in the second half of the year 2020 however showed different direction and Czechia has been facing higher numbers and return of restrictions to the region. The paper firstly gives an introduction on different government strategies in response to Covid-19. Like China, Czechia belongs to the countries that take strict protectionist measures with the immediate effect of reducing economic performance in order to stabilize the spread of the virus as much as possible and prevent the collapse of the public health system. The paper continues with development of the coronavirus situation in Czechia and analysis of the Czech government´s steps. Special attention is given to the several measures that have been adopted and recognized as highly effective in slowing down the spread of infection (such as smart quarantine) in spring 2020. Because Czechia is an economy with minimal macroeconomic imbalances and strong financial stability for many years, it can be an advantageous factor in overcoming the consequences and recovering the economy. Next part of the paper thus analyses and compares the main economic indicators of the Czech economy before the coronavirus hit and presents experts´ predictions about future development. The final part provides information on programs and incentives of the Czech institutions for re-boosting economic performance. The main data sources are Czech Statistical Office, Czech National Bank, governmental reports and press releases.
Keywords: COVID-19, Czechia, pandemic, smart quarantine