Ministry cuts growth forecast for this year and next

The Ministry of Finance has cut its forecast for expansion of the Czech economy this year. While in July officials said gross domestic product appeared set to grow by 3.2 percent, they have now revised that figure to 3.0 percent.

Similarly the ministry had previously predicted GDP growth for 2019 of 3.1 percent but now says 2.9 percent is more likely.

The Ministry of Finance says it regards Brexit, increased protectionism and Italy’s economic problems as the greatest threats to the Czech economy.