Czech Republic to Stagnate

BusinessEconomy ♦ Published: November 2, 2012; 17:18 ♦ (Vindobona)

The economic outlook for the Czech Republic had to be revised again. After a significant recession in 2012, the Czech GDP will only grow by 0.2% next year.

Czech Republic to Stagnate / Picture: © Czech National Bank

The Czech National Bank (CNB) lowers its economic forecast for 2013. In the previous forecast, CNB anticipated a GDP growth of 0.8%. Today, the estimate was revised down to 0.2%. In 2014, the growth rate will not be much higher, CNB´s governor Miroslav Singer explained. The main reasons for the weakness are the slowdown in exports and the decent domestic demand. Inflation is expected…