IMF cuts Czech growth forecast


The Czech Republic has not yet been hard hit by the global financial crisis, but its economy will slow next year, suggested the International Monetary Fund in a report published Monday. The IMF predicted that the Czech economy would grow by less than two percent in 2009, down sharply from the previous forecast of four percent. In 2007, the economy expanded by a record 6.6 percent. Subhash Thakur, head of the IMF’s mission in the Czech Republic, said the economy was well protected against the crisis by its solid growth in recent years, a strong currency and recent public finance reforms.