Finance ministry worsens outlook

31-01-2013

The Czech Finance Ministry has worsened its economic prognosis for the upcoming years in a new micro-economic analysis released on Thursday. According to the new estimates, the Czech GDP will grow only by 0.1%, compared to the 0.7% that was estimated in October. The Czech National Bank has previously placed the estimate at 0.2%. The Finance Ministry has dampened its prognosis because of the anticipated slowing down of growth in the Eurozone countries, which will influence Czech exports. The analysis predicts that the economic growth will pick up in 2014, when the economy should grow by 1.4%.