Finance Ministry revises 2012 growth figure down

The Czech Finance Ministry has revised its economic growth forecast for 2012 down to 0.2 percent and is not ruling out a recession. The revised forecast, down from a predicted 1 percent growth, is based on growing problems in the euro-zone which are expected to impact the export-dependent Czech economy. The government is expected to draft an amendment to the 2012 budget which was tailored to 2.5 percent growth.