Czech c-bank keeps 2012 economic growth forecast, cuts outlook for 2013.

By bne IntelliNews November 2, 2012
The Czech central bank continues to expect the economy to contract by 0.9% in 2012 and return to a growth next year but the expansion will be weaker than previously thought, the bank said in a newly-released forecast. The bank now expects a 0.2% GDP growth for 2013, down from 0.8% forecast in August. The economy will contract this year as a result of a marked slowdown in external demand and subdued domestic demand coupled with fiscal consolidation. A gradual revival of foreign demand will offset the effect of public finance consolidation in 2013, the bank said. In 2014, the Czech economy should expand by 1.9%. According to the new forecast, headline inflation is seen at 2.3% in the fourth quarter of 2012 and at 1.6% in the first quarter of 2013.

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

Dismiss