Government prepares plan of action in case GDP growth falls below 2 percent next year

The Czech government is preparing a plan of action to be implemented if economic growth slows to below 2 percent next year, the minister of finance, Miroslav Kalousek, said on Wednesday. Speaking after a meeting of the Chamber of Deputies’ budget committee, the minister refused to reveal any details of the plan, saying he did not want to create “virtual reality”. On Tuesday the International Monetary Fund warned that GDP growth in the Czech Republic could fall below 2 percent in 2009. The European Commission’s estimate is that it will slow to 3.6 percent. The Czech economy saw record growth of over 6.5 percent in both 2006 and 2007.

Author: Ian Willoughby