The Czech government lowered its economic-growth forecasts for this year and next as the global outlook worsens, CTK reported, citing documents from a Cabinet meeting today.
Gross domestic product will contract 0.5 percent this year before returing to growth of 1 percent in 2013, the newswire reported. The public-finance deficit will be narrowed until 2015 at a slower pace then previously estimated, CTK said. By 2015, the shortfall will be 1.6 percent of GDP, compared with an April outlook of 0.9 percent, according to the materials.
The deficit this year will be 3.2 percent of GDP, compared with a previous estimate of 3 percent, CTK said.
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