WB puts Czech economic growth at 1.9% in 2010.

By bne IntelliNews June 11, 2010
The economy is to expand by 1.9% this year after the 4.1% GDP contraction in 2009, the WB projected in the summer update of its Global Economic Prospects for 2010. The economic revival this year is to be mainly driven by net exports and to a lesser extent - by investments. The contribution of consumption will remain relatively weak due to the still high unemployment and the government commitment to budget austerity measures. In 2011, the economy is to expand by 2.9% y/y - net exports are to be also the main growth driver, while private consumption is to regain its importance. Investments are to continue being important source of growth, but the importance of government consumption is to diminish in line with government plans for fiscal consolidation. In 2012 the economy is to grow by 3.4% y/y with the structure of growth remaining broadly the same - a further increasing contribution of net exports and private consumption and similar contributions on part of investments and government consumption.

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