Finance Ministry prediction: GDP to grow by 0.8 pct in 2012

The Czech Republic’s GDP is expected to grow by 0.8 percent next year while inflation should reach 3 percent due to a higher VAT rate, a survey carried out by the Finance Ministry and based on predictions by domestic and foreign economic institutions suggests. The Czech economy should grow by 2.1 percent in 2013 and by 2.3 percent in 2014 while inflation in those years should hover around the 2-percent target set by the Czech National Bank, the news site reported.