Mediafax (Mediafax)
Macroeconomics  |  July 07, 2012 09:14:32

CBA publish its forecast for the Czech economy this year


PRAGUE (MEDIAFAX) - Czech Banking Association (CBA) on Tuesday published its forecast for this year the Czech economy. It should according to the March forecast to stagnate this year, the association of red zero, but also its representatives in late June warned that they probably expect the March forecast revision downward.

According to recent estimates, the Czech National Bank (CNB) published the third May, the Czech economy will stagnate due to a considerable slowdown in external demand and the ongoing fiscal consolidation. Next year, gross domestic product (GDP) will grow by 1.9 percent in connection with the recovery in external demand. Further development of the Czech GDP estimate published CNB second August.

Ministry of Finance (MF) in its latest forecast of 12 April confirmed its January estimates, according to which the Czech economy this year, slightly better off by 0.2 percent. Ministry of Finance forecast but noted that it is possible further escalation of problems in the euro area and therefore no possibility of passing on any negative external shocks to the Czech economy. Current forecasts of the Ministry of Finance will be published in late July.

CBA was founded in 1990 and is a voluntary association of legal entities doing business in finance. Currently comprises 38 members. Association's role is primarily to represent and promote the common interests of its members, present role and banking interests to the public and participate in the standardization of practices in banking.

Jan Soukup, soukupj@mediafax.cz

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ČBA zveřejní svoji prognózu o vývoji české ekonomiky v letošním roce

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