Czech gross domestic product (GDP) contraction in Q4 last year was a bad surprise for some foreign analysts who say that the country will have to implement austerity economic measures. They say at the same time that the GDP fall is the smallest in the eastern part of the European Union, except for Poland.
According to an estimate of Czech statisticians, the economy fell by 0.6 percent in the last three months of 2009 against the previous quarter and year-on-year decrease is estimated at 4.2 percent.
The Czech Republic relies on exports much more than Poland and also its internal market is smaller than the Polish market that had pushed the output up, he said.
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