Czech Growth Outlook Revised

BusinessEconomy ♦ Published: November 1, 2013; 15:47 ♦ (Vindobona)

The Czech Ministry of Finance has improved its economic forecasts.

Czech Growth Outlook Revised / Picture: ©

This year, the Czech GDP will contract by 1.0%, the Czech Finance Ministry projects. Next year, the Ministry estimates a growth rate of 1.3%. Compared to the prior forecast, this is a significant upward revision. In July, the Ministry projected a GDP fall of 1.5% this year and a 0.8% growth in 2014.

The inflation rate will be very low next year, the Ministry added. As a result,…