Central bank –GDP forecast

The Czech National Bank expects Czech gross domestic product to grow by 1 to 2 percent this year, the bank’s governor Miroslav Singer said in a report to the Senate on Wednesday. Next year, GDP growth should accelerate further. Mr. Singer said the bank did not expect any significant inflationary pressures and if any do appear, he said they were more likely to be caused by tax adjustments than real price growth. The central bank revised its estimate of this year's economic growth up to 1.6 percent in its latest forecast in early August from the previous 1.4 percent. For next year, the central bank left its estimate of GDP growth unchanged at 1.8 percent. In 2012 the economy should expand by 2.9 percent.