Czech government unveils crisis plan

The Czech government has announced measures to cope with the impact of the global financial crisis on the Czech economy. Speaking after a late night session with members of the National Economic Council, a group of leading economic experts who are to advise the cabinet in crisis management, Finance Minister Miroslav Kalousek said the government’s crisis plan would be aimed at creating new job opportunities as well as boosting investment in research, education and infrastructure. The finance minister said the plan would include both legislative and executive measures and would almost double the country’s budget deficit. Revised figures forsee a growth of only 1.4 percent in 2009, down from the 5 percent predicted earlier.