Czech Republic: Economic Outlook Improves

People ♦ Published: November 8, 2013; 09:50 ♦ (Vindobona)

In its latest forecast, the Czech National Bank (CNB) has corrected the outlook on the Czech economy upward for the rest of 2013 while estimates for 2014 were slightly downgraded.

Czech Republic: Economic Outlook Improves / Picture: © Czech National Bank

In 2013 GDP is expected to decrease by 0.9 percent while in 2014 a growth of 1.5 percent is anticipated, according to Miroslav Singer, Governor of the CNB. Earlier estimates had expected economic growth to increase to 2.1 percent next year but a drop of 1.5 percent this year.

Yesterday, the board of the Czech National Bank decided to start intervening in the foreign exchange…