Analysts lower expectations for growth of Czech economy

Some analysts have revised downwards their expectations for growth in the Czech economy in 2009. The Czech News Agency reported that Patria Finance had lowered its GDP growth projection from 3.1 to 2.5 percent, a view shared by analysts from Erste Bank. Patria’s David Marek said the reasons for the revision were worsening conditions in the eurozone and the negative impact of the Czech crown’s fast growth, in view of the fact the Czech Republic exports so much to countries which have adopted the common European currency.