National Bank published revised economic forecast

The Czech National Bank on Thursday published a revised economic forecast according to which the national economy is expected to fall by 4.4 percent this year but to grow by 1.4 percent next year. The bank’s previous forecast released in August, expected GDP to fall by 3.8 percent this year and to grow by 0.7 percent next year. National Bank Governor Zdeněk Tůma said the economy had already hit the bottom and was on the rebound. Next year we expect moderate growth tempered by the budgetary policy and growing unemployment, Tůma said.