EC publishes revised economic growth forecast for Czech Republic

The European Commission has revised its forecast of Czech economic growth for 2010, predicting a growth of 2.4 percent, up from its 1.6 percent forecast in the spring. For next year it predicts a growth of 2.3 percent. Both predictions are more optimistic than those of the Czech finance ministry and the central bank which are expecting a growth of 2.2 percent this year and a mere 1.5 percent growth in 2011 due to the government’s austerity package and slower economic growth in the countries which are the Czech Republic’s main business partners.