Czech gov’t projects 2.4 pct GDP growth in 2020, driven by household demand

The Czech government expects economic growth to be driven mainly by rising household demand in 2020. According to the draft Convergence Programme submitted to the European Commission, Czech GDP should grow 2.4 percent next year, down from nearly 3 percent growth in 2018.

According to projections released earlier in May by the Czech National Bank, however, the economy should grow by 2.5 percent in 2019 and 2.8 percent in 2020.

Analysts warn the risks are skewed in the direction of weaker growth, mainly due to slowing industrial production and external demand.

Author: Brian Kenety