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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Czech CSSD proposes 2014 general and European elections to be held together.

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

Tesco Czech faces fine for selling products containing undeclared horsemeat

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

Czech Senate votes to limit immunity of lawmakers, judges.

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

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    5 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss