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8-8-2020, 20:58 UTC
[31.01.2011 19:00 UTC] Více autorů
Finance Ministry revises economic growth forecast upwards

The Finance Ministry revealed on Monday it has revised upward its economic growth forecasts for 2010 and 2011 because of a lasting recovery in the economy. The ministry said it would revise its growth forecast for 2010 to 2.5 percent from the previously predicted 2.2 percent, and for 2011 to 2.2 percent from 2.0 percent. Statisticians will release an estimate of 2010 growth on February 15. The ministry expects growth to slow this year against 2010 amid austerity measures adopted by the centre-right government in a bid to bring the country's public finances back on track. But it forecasts a pick-up in the pace to 2.7 percent in 2012. The Czech National Bank, which will update its own forecast on Thursday, expects economic growth for 2010 to have reached 2.3 percent, before a slowdown to 1.2 percent this year and an acceleration to 2.5 percent in 2012. In 2009, the Czech economy, which is heavily dependent on car production, contracted by 4.1 percent as a result of the global crisis, while the public finance deficit climbed to 5.8 percent of GDP.