Finance Ministry reduces GDP growth forecast for 2009
The Finance Ministry has reduced its expectation of GDP growth in 2009. Its analysts now predict the Czech economy will grow by 3.7 percent next year, down from the 4.8 they forecast in July, prior to the international credit and banking crisis. The draft budget for 2009 was drawn up on the basis of the July estimate. The ministry has revised its GDP forecast for this year from 4.6 percent to 4.4 percent. 2007 saw record Czech GDP growth of 6.6 percent.