OECD improves Czech GDP growth outlook
The Organisation for Economic Cooperation and Development has published a more optimistic growth outlook for the Czech Republic. The OECD revised its forecast for Czech GDP growth in 2015 to 3.1 percent, compared to November’s 2.3 percent. According to the OECD, the Czech economic outlook is favourable, driven primarily by strong domestic demand, although it estimates a drop in GDP growth to 2.5 percent next year. The OECD’s revised estimate for the Czech Republic remains more optimistic than those of the Czech National Bank, the Ministry of Finance and the European Commission, neither of which expect growth to exceed 2.7 percent.