Czech Economy to Shrink by 1.0% This Year

Central- & Eastern Europe › Czech Rep. ♦ Published: October 10, 2012; 18:27 ♦ (Vindobona)

According to IMF, the Czech GDP will shrink by 1.0% this year. Next year an economic growth rate of 0.8% is expected.

Czech Economy to Shrink by 1.0% This Year / Picture: © Vindobona.org

Compared to the spring forecast, IMF´s economic forecast for the Czech Republic was cut substantially. The Czech National Bank anticipated a growth rate of -0.9% this year and an increase of 0.8% next year. By contrast, the Czech Ministry of Finance is more optimistic and estimates GDP growth to come at -0.5% this year and at 1.0% next year.

The Central and Eastern European…

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