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November 21, 2017 10:00 am | FILED UNDER: business

Czech Finance Ministry Revises GDP Forecast Upward – Economic Growth Better than Expected

By ČTK

Prague, Nov 20 (CTK) – The Czech Finance Ministry improved its economic growth estimate in the latest forecast to 4.1 percent for this year and to 3.3 percent for next year, which was caused by the good condition of the Czech economy and the development abroad, the ministry said in a press release today.

 

In its previous forecast published in July, the Finance Ministry envisaged a 3.1-percent growth rate for this year, and 2.9-percent expansion for next year. Last year, gross domestic product rose by 2.6 percent. The economic growth should be driven by domestic demand led by households’ final consumption expenditure, and investment activity of the corporate and government sectors, the ministry said.

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