TNBiz (TNBiz)
Markets  |  November 01, 2012 17:36:24

Czech economy will decline by 0.9 percent, estimates CNB


PRAGUE (MEDIAFAX) - According to recent estimates, the Czech National Bank (CNB) will fall this year, gross domestic product (GDP) of the Czech Republic by 0.9 percent. CNB so on Thursday confirmed its earlier forecast of the end of September.

"The Czech economy will decline by 0.9 percent due to a marked slowdown in external demand and generally subdued domestic demand," said Governor of the Czech National Bank Miroslav Singer.

By contrast, in the next Czech GDP is estimated to increase by the central bank's 0.2 percent. CNB this development, which represents a deterioration of the previous estimate of 0.6 percent, mainly due to expected slow recovery in foreign demand and also due to restrictive effects of domestic fiscal consolidation.

"In 2014, already but we expect an acceleration of economic growth in almost two percent," said Singer, with the exchange rate to the euro is roughly stable over the forecast horizon.

Against this, the Ministry of Finance in its current forecast of slightly more pessimistic when the expected decline in the Czech economy this year by one percent. Next year, however, GDP, according to the Finance Sector growth by up to 0.7 percent.

Czech National Bank is the central bank of the Czech Republic and the supervisor of the financial market. The main objective of the CNB is to maintain price stability. CNB also determines monetary policy, issues banknotes and coins and manages the circulation.


Jan Soukup, soukupj@mediafax.cz

Was this article: 10 | 8 | 6 | 4 | 2 | 0




Česká ekonomika letos klesne o 0,9 procenta, odhaduje ČNB (1.11.2012)

Diskuze a názory

Na dané téma nejsou žádné názory.


Zobrazit sloupec 
Moner | ISIN database | Weather forecast
Česká verze
Kurzy.cz - Akcie cz, kurzy měn, forex, zlato.
Favorite: Prague Stock Exchange Czech crown Czech economy Commodities Gold Trademarks Prague Weather

Copyright © 2000 - 2018

Kurzy.cz, spol. s r.o., AliaWeb, spol. s r.o.,

ISSN 1801-8688