Prague, Oct 25 (CTK) - The Czech economy will grow by 1-to-2 percent next year, analysts polled by CTK said Sunday. The growth will be limited by the budget savings package, according to them. For this year, economists foresee GDP contraction of 4-to-5 percent. Unless the austerity measures are adopted, the economy may rise 0.5 percentage point faster, analysts agreed. Finance Minister Eduard Janota himself conceded that the impact of the package on economic growth is minus 0.8 percentage point. According to the Finance Ministry, the economy will not grow by 0.3 percent next year but fall by 0.5 percent. "If more or less the same version of the 2010 budget as the one proposed by the government is approved, the negative effects on the pace of economic growth will be minus 0.5 percentage point according to our preliminary...
[read full story]
powered by 