Czech Republic and Poland face severe floods, worst in two decades, exacerbating existing financial pressures from pandemic and inflation.

Central European nations, notably the Czech Republic and Poland, are grappling with significant fiscal challenges exacerbated by severe floods, the worst in two decades. The Czech Republic was poised to reduce its budget deficit below the EU's 3% GDP cap but now faces setbacks. The estimated damage could reach $10 billion, with recovery costs outpacing EU funding. These weather events compound existing financial pressures from the pandemic and rising inflation.

September 20, 2024
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