EC revises Czech growth figures down

The European Commission has revised downward its growth forecast for the Czech economy for both this and next year. According to figures released on Thursday the EC expects the Czech economy to grow by a mere 1.8 percent this year, from an earlier 2 percent forecast, while next year’s growth estimate is now at 0.7 percent down from a previous 2.9. The predictions are more dire than those released both by the International Monetary Fund and the Czech Finance Ministry. The ministry’s latest growth predictions speak of a 2.1 percent growth this year and a 1 percent growth in 2012. However Finance minister Miroslav Kalousek said that a worse result could be expected next in view of the economic slow-down in Europe.