Czech growth likely to shrink up to 0.23 percent a year in case of Brexit: Deloitte

A British withdrawal from the European Union could result in a drop in Czech growth of up to 0.23 percent of Gross Domestic Product a year or around 10.4 billion crowns, according to a study released on Monday by the consultancy Deloitte. The Deloitte study is based on figures from the British Treasury which sees GDP down by 3.6 percent in the short term compared to the scenario if the country remained in the group of 28 countries. The long term impact over 15 year is shrinking of GDP to the tune of 3.4 to 4.3 percent. The consequences are based on Britain, like Norway, signed up to the European Economic Area (EEA) if it quit the EU. The impact would be much more dramatic if Britain just remained in the World Trade Organisation.

Author: Chris Johnstone