The Czech Banking Association (CBA) expects the economy to post a zero growth this year due to subdued domestic demand and a 0.4% economic contraction in the eurozone, the countrys main export market, CBA said in an updated forecast comprising analysis from seven of the country's largest banks. The associations latest forecast represent an improvement from January 2012, when the CBA was expecting the Czech economy to contract by 0.1% this year. In 2013 the Czech economy should rebound posting a growth of 2%, the CBA said. Even in the worsening economic climate, the banking sectors lending will continue to show a mild expansion. Lending to businesses is seen rising by 3.3% y/y and to households by 3.8% y/y in 2012.
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Social Democrats (CDDS), the major Czech opposition party, proposed next year's general and European elections to be held on the same day, CTK news agency reported. CSSD leader Bohuslav Sobotka ... more
The Czech unit of UK retailer Tesco faces a fine of up to CZK 3mn (EUR 116,000) for selling beef lasagne containing undeclared horsemeat, Radio Prague reported. The state-run Agricultural and Food ... more
The upper house of the Czech parliament, the Senate, voted on March 20 a constitutional amendment to limit the immunity of lawmakers and constitutional judges, Radio Prague reported. Out of the ... more