Czech Republic: GDP to Shrink Further

BusinessEconomy ♦ Published: August 31, 2013; 13:48 ♦ (Vindobona)

The Czech Republic will not leave the recession behind soon. The economic forecasts had to be revised again.

Czech Republic: GDP to Shrink Further / Picture: © Wikimedia Commons / [Public Domain]

According to the business advisor Ernst & Young, the Czech Republic will record a negative economic growth rate this year. In the spring forecast, Ernst & Young expected a growth rate of -0.5% in 2013. Now, Ernst & Young predicts the Czech GDP to shrink by 1.0%. The Czech Ministry of Finance anticipates a negative growth rate of 1.5% this year.

Regarding 2014, Ernst…