The Czech Ministry of Finance increases economic growth estimate to 2.5%

Published: 01.08.2019 Related countries:  United Arab Emirates United Arab Emirates

The Economy has been stable and grow sice 2019

The Czech Ministry of Finance (MF) has adjusted its GDP growth prediction for 2019 from 2.4% to 2.5%. The expected growth pace for 2020 decreased from 2.4% to 2.3%. In both years, economic growth should be driven by household consumption reflecting wage dynamics, a low unemployment rate, and increased old-age pensions. The MF increased its forecast of the average inflation rate for 2019 from 2.3% to 2.5%. The reviewed estimate for 2020 (from 1.6% to 2.2%) is based on an increased excise tax on tobacco and alcohol.