OECD puts GDP growth forecast in negative figures

29-05-2013

The Organisation for Economic Co-operation and Development has published a more pessimistic growth outlook for the Czech Republic. The OECD announced on Wednesday that it expects the country’s GDP to contract by 1 percent this year, even though in November it forecast growth of 0.8 percent. It also cut projected growth for next year from 2.4 to 1.3 percent. The organization suggested that the Czech central bank may want to ease monetary policy in order to improve the situation. Czech officials say they are prepared to weaken the crown if necessary.