Czech Republic to Remain in Recession

People ♦ Published: July 26, 2013; 12:19 ♦ (Vindobona)

The Czech economy will, according to the Finance Ministry in Prague, shrink by 1.5 percent and only start growing again in 2014 by 0.8 percent.

Czech Republic to Remain in Recession / Picture: ©

The Czech Finance Ministry has corrected its original prognosis downward. Earlier, it had forecast stagnation for 2013 and economic growth of 1.2 percent in 2014. The reason for the pessimistic forecast is, according to the Ministry, the decrease of investments.

The Czech economy has been in recession since the end of 2011 – the longest in the recent history of the country. In…