Czech Finance Ministry predicts 2% growth for 2020, blames global tensions

Czech Finance Ministry predicts 2% growth for 2020, blames global tensions

Published at: 2020-02-05 06:47 | Author: CIJEurope.com
The Czech economy will bottom out this year, according to the Czech Finance Ministry, which predicts that GDP will rise just 2 percent. But the ministry isn't overly excited about 2021, forecasting growth of just 2.2 percent. It sees slow global growth this year as one of the biggest factors in the sluggish pace of business at home. "The deepening of tensions in global trade relations, the growth of protectionism and the uncertainty that goes with them is causing losses in the world economy in the form of reduced confidence from businesses and consumers in the future economic development, which above all influences investment decisions," wrote the ministry.

Similar Stories:

Hankook Tire to suspend production in Hungary
In another hit to the European automotive market, Hankook Tire is planning to temporarily  »
MOL producing sanitizer products to fight coronavirus
Hungarian oil and gas company MOL is now producing hand and face sanitizer to help boost s  »
Serbia's industrial base shutting down
The South Korean coffee machine producer Jura has shut down production at its Serbian plan  »
BMW to continue developing €1bn Debrecen plant
While car manufacturers start suspending operations across Europe in response to the coron  »
How does Bucharest’s investment market compare to Prague’s? There’s little compari   »
How much are you lending on infrastructure projects in Slovakia? How does it compare to ot   »
Should we believe people in the market when they say they’re working on five to six deal   »
Going into 2016, most observers assumed Czech retail assets would be a major investment ta   »