OECD confirms poor economic outlook for 2012
The Organisation for Economic Cooperation and Development is the latest institution to confirm a poor economic outlook for the Czech Republic in 2012. The OECD estimates a drop in growth next year to 1.6% compared to this year’s 2.1. The organisation’s report does however say the Czech economy is stable and successful and commends the current reform plans. In the spring, the OECD predicted Czech economic growth of 2.4% this year and 3.5% in the next. Its revised estimate remains more optimistic than those of the Czech National Bank, the Ministry of Finance and the European Commission.